INDEX Saudi | Saudi Mega Projects

SAUDI MEGA PROJECTS

Saudi Arabia is home to the Middle East’s largest construction market, making it the region’s largest interior design and fit out buyer, with an interior market value of US $3.5bn. With the entertainment industry opening its doors to the world and relaxing laws to encourage tourism, the country is gearing up for a massive change.

An astonishing volume and variety of major construction and fit-out projects are currently underway in Saudi Arabia as the Vision 2030 national development plan becomes reality.

AL WIDYAN

Budget: $2.7 billion

The development will be largely walkable and feature entertainment, leisure, retail and education facilities, as well as homes and offices. Al Widyan will be targeting young families, students, creatives and entrepreneurs with its mix of 20,000 high and low-rise housing units.

AMAALA

Budget: $2 billion | Completion: 2028

The project involves the construction of a luxury tourism destination spanning across 3,800 kms of untouched nature reserves in Saudi Arabia's northwestern coast. The project will include luxury hotels with 2,525 hotel rooms, 700 private villas, 1,496 residential units, a dedicated airport, more than 200 shops, a retail village, marinas, several yachting clubs and an Academy of the Arts.

MALL OF SAUDI

Budget: $3.2 billion | Completion: 2025

The project envisages the construction of a shopping mall spanning an area of 866,000 sqmtrs. The project will comprise an indoor snow park, shops built across 300,000 sqmtrs, besides restaurants, entertainment areas, offices, showrooms, luxury hotels, and serviced apartments.

JABAL OMAR

Budget: $4.4 billion

This major Makkah development is one of the kingdom’s largest construction projects, covering an area of 40 hectares and costing $4.4 billion. A mix of towering hotels and residential buildings, once complete, it will have the capacity to host up to 36,000 guests annually, and more than 100,000 during Hajj season.

Jabal Omar - Construction week (Source).jpg

RED SEA TOURISTIC DEVELOPMENT

Budget: : $4 billion

The project will focus on the development of resorts spread across 28,000 sqkms, including more than 90 natural islands, located between the cities of Umluj and Al Wajho, on the western coast of Saudi Arabia.

THE AVENUES MALL

Budget: $2.9 billion

Under this project a shopping mall complex will be constructed with a leasable area of approximately 400,000 sqmtrs, housing more than 1,300 stores as well as five multi-purpose towers consisting of hotels, exhibition and conference halls, residential apartments, offices and medical facilities.

KING ABDULLAH FINANCIAL DISTRICT

Location: Riyadh | Budget: $7.8 billion

Recently announced as the new home of the Kingdom’s sovereign wealth fund, the 17.2 million-square-foot master plan calls for over 60 residential, office, and retail towers; schools, medical clinics, civic buildings and hotels capable off housing 50,000 residents when complete.

KING ABDULLAH ECONOMIC CITY

Location: Rabigh | Budget: $100 billion

Situated off the Red Sea across 181 km², approximately the size of Washington DC, this is the largest private development of its kind in the world and is set become home to two million people. Its key target demographic are younger Saudi’s with international exposure.

RIYADH METRO

Budget: $22.5 billion | Completion: 1st Phase to open in 2020

The biggest urban mass-transit system that’s ever been created in one phase, this is a six-line, 85-station metro network for the national capital, whose population is projected to grow by 40% by 2030.

THE KNOWLEDGE ECONOMIC CITY

Location: Riyadh | Budget: $22.5 billion

NEOM

Budget: $500 billion | Completion: 2025

Announced in Riyadh in October 2017 with its first phase due to complete in 2025, this unprecedented project will build a new megacity on the Red Sea near Saudi Arabia’s northeast border with Egypt and Jordan and cover an area some thirty-three times the size of New York City.

JEDDAH TOWER

Location: Jeddah | Budget: $1.2 billion

The world’s first building to reach 1 km high, the Jeddah Tower is a symbol of the growth, prosperity, and regional emergence of its homeland on the global stage. Due to open in 2020 its 252 floors will house a 200 bedroom hotel, 121 serviced apartments, 61 residential floors and 318 apartments.

AL-QIDDIYA ENTERTAINMENT CITY

Budget: $500 billion | Completion: 2030

An entertainment city almost as big as Las Vegas located southwest of Riyadh, this major new development will include theme parks, resorts, hotels and residential units on about 100 miles of sandy coastline on the Red Sea. At a total size of 334 square km, its first phase due to open to the public in 2022.