TRANSFORMING THE KINGDOM

Saudi Arabia is not just building cities, it's crafting a future. With a staggering portfolio of giga-projects stretching from the Red Sea coast to the heart of the desert, the Kingdom is redefining ambition on a global scale. Backed by Vision 2030, these developments are not mere infrastructure, they are statements of Saudi Arabia's intent to emerge as a global force.

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SAUDI Arabia is undergoing a transformation of historic proportions — one that is being watched, studied, and, increasingly, emulated around the globe. Fuelled by the bold ambitions of Vision 2030, the kingdom is rolling out an unprecedented wave of mega and giga projects that span sectors as diverse as tourism, energy, technology, logistics, and urban development.

From the smart city of NEOM to the transformation of the kingdom's birthplace in Riyadh and the luxury destinations rising along the Red Sea, these initiatives are redefining the scale and scope of national development. As cranes dominate skylines and ground breaks in previously untouched terrain, Saudi Arabia is not only reshaping its own future — it’s becoming one of the world’s most dynamic construction and investment frontiers.

Saudi Vision 2030, the kingdom's comprehensive national development plan, aims to pivot the country’s economy away from its historical dependence on oil revenues by fostering growth in diverse nonoil sectors. This ambitious agenda has seen the launch of gigaand mega-projects — many of them awe-inspiring in both scale and vision — that have begun to transform the kingdom's landscape. As a key enabler of this vision, the construction industry is already benefiting through creating the physical infrastructure necessary to support new mixed-use developments, communities, offices and industries, enhance tourism, and improve the overall quality of life for the kingdom's citizens and residents.

According to Knight Frank's Saudi Arabia Giga Projects Report 2024, Vision 2030 is driving a staggering $1.3 trillion in investments across the kingdom's real estate, infrastructure and transportation sectors, with $164 billion worth of real estate contracts awarded, the largest of which is for NEOM ($28.7 billion).