Saudi Arabia is undertaking a series of ambitious megaprojects to position itself as a global economic hub. These large-scale initiatives, requiring multi-billion-dollar investments, aim to diversify the economy beyond oil, generate employment, and establish the kingdom as a center for business and tourism.
Here are 19 major projects driving this transformation:
1. NEOM
Located along the Red Sea in northwest Saudi Arabia, NEOM is a $500 billion futuristic city launched in 2017 by Crown Prince Mohammed bin Salman. Meaning “new future,” the project aspires to attract innovators and pioneers seeking to build sustainable communities.
Spanning 26,500 square kilometers, NEOM is strategically positioned on global trade routes and is designed to run entirely on renewable energy. Aligned with Vision 2030, it follows a carbon-neutral, circular economy model, focusing on sustainable urban planning. NEOM comprises key districts, including The Line, Oxagon, Trojena, Sindalah, and Magna.
2. Qiddiya
Qiddiya, a vast development southwest of Riyadh covering 376 square kilometers, is spearheaded by the Qiddiya Investment Company, a subsidiary of the Public Investment Fund (PIF). Designed as a cultural, sports, and entertainment hub, Qiddiya will feature theme parks, stadiums, and outdoor recreational facilities, boosting Riyadh’s economy and enhancing quality of life.
3. The Red Sea Project
Spanning 28,000 square kilometers, the Red Sea Project encompasses an archipelago of over 90 islands, along with volcanoes, deserts, and mountain canyons. The first five resorts opened as part of Phase One, which includes an international airport and 16 resorts across various locations.
By 2030, the development will include 50 hotels with 8,000 rooms and over 1,000 residential units. To protect the ecosystem, annual visitor numbers will be capped at one million.
4. ROSHN
ROSHN, a national real estate developer, is redefining urban living by creating energy-efficient, pedestrian-friendly communities. With a land bank exceeding 200 million square meters, ROSHN is committed to increasing homeownership to 70% by 2030, planning over 400,000 homes, 1,000 schools, and 700 mosques.
5. Diriyah
Covering 14 square kilometers, Diriyah is set to become a major cultural and heritage destination by 2030. The project includes 38 hotels, over 100 restaurants, multiple educational institutions, and aims to attract 50 million visitors annually while housing 100,000 residents.
6. New Murabba
New Murabba is a planned urban district in Riyadh designed to blend modernity with Saudi heritage. A quarter of its area will be dedicated to green spaces. At its core lies The Mukaab, a large architectural structure offering immersive digital experiences, retail, dining, and hospitality. The project will provide 100,000 homes and 4.19 million square meters of parks and plazas.
7. Jeddah Tower
Construction has resumed on Jeddah Tower, which will surpass 1,000 meters in height, becoming the world’s tallest building and overtaking Dubai’s Burj Khalifa. The tower, the centerpiece of Jeddah Economic City, will feature luxury residences, offices, a Four Seasons hotel, shopping malls, and the world’s highest observation deck.
8. SEVEN (Saudi Entertainment Ventures)
SEVEN, the entertainment arm of PIF, is investing $13 billion in leisure attractions across the kingdom. Its projects include entertainment destinations in Al Hamra, Tabuk, Al Madinah, Yanbu, Abha, and Jazan, featuring theme parks, immersive experiences, and adventure zones.
9. AlUla
AlUla, a historic site with over 200,000 years of heritage, is home to Saudi Arabia’s first UNESCO World Heritage Site, Hegra. The Royal Commission for AlUla is developing tourism, archaeology, and cultural projects while preserving its natural and historical elements.
10. King Salman Energy Park (SPARK)
SPARK is an industrial hub in Eastern Saudi Arabia designed to support global energy-sector businesses. Launched in 2018, the project promotes clean energy technologies and features a dedicated logistics zone and dry port.
11. King Salman Park
King Salman Park, the world’s largest urban park, is being developed in Riyadh. It will feature extensive green spaces, cultural and sports facilities, an Islamic-style garden, vertical gardens, a maze, and a bird and butterfly sanctuary.
12. Riyadh Sports Boulevard
Launched in 2019, the 135-kilometer-long Riyadh Sports Boulevard promotes healthy living with dedicated spaces for walking, cycling, and horse riding, connecting Wadi Hanifa to Wadi Al-Sulai.
13. Jeddah Central
The $19.9 billion Jeddah Central Project, initiated in 2021, aims to transform Jeddah into a global destination. Covering 5.7 million square meters, it will feature an opera house, museum, stadium, oceanarium, marina, and residential districts.
14. Rua Al Madinah
Rua Al Madinah enhances the spiritual and cultural experience for visitors to Al-Madinah Al-Munawarah. It improves accommodation near the Prophet’s Mosque, incorporating heritage-inspired designs and top-tier hospitality.
15. Soudah Peaks
Soudah Peaks, located 3,015 meters above sea level in Asir Province, is envisioned as a luxury mountain resort. Spanning 627 square kilometers, it will feature premium hotels, adventure tourism, and eco-friendly attractions.
Each of these projects plays a crucial role in shaping Saudi Arabia’s future, aligning with Vision 2030’s objectives to diversify the economy, boost tourism, and improve the overall quality of life.
