Saudi Arabia megaprojects 2024: From Neom to AlUla, 17 developments shaping its future

Read More: Neom: A guide to the 11 projects in Saudi Arabia's mega-development From giant cubes to luxury seaside resorts, the list of megaprojects in Saudi Arabia continues to grow. The kingdom's transformation under the Saudi Vision 2030 plan , which aims to diversify its economy and reduce its reliance on hydrocarbons, is changing the landscape of its cities and surrounding areas. The Public Investment Fund , Saudi Arabia's sovereign wealth fund which manages more than $620 billion in assets, is at the heart of the Vision 2030 initiative. Several of PIF's entities are leading the transformation with megaprojects. Some of the projects are of such scale and ambition that they are defined as giga-projects, considered “once in a generation” undertakings . The value of property and infrastructure projects announced since Saudi Arabia rolled out its National Transformation Plan in 2016 has crossed $1.25 trillion, according to real estate agency Knight Frank. Here, The National takes a look at 17 megaprojects expected to shape the future of the kingdom. A futuristic multibillion-dollar megacity in the north-west of the kingdom, Neom forms a core part of Saudi Vision 2030. The ambitious $500 billion giga-project, supported with funding from the PIF as well as local and international investors, aims to be powered entirely by clean energy. The plan for Neom is a city where public transport and autonomous vehicles will be residents' main modes of travel. First unveiled by Crown Prince Mohammed bin Salman in 2017, it seeks to challenge the traditional concept of cities and lifestyle. Eleven projects have been announced within Neom , including The Line, a 170km-long, 500-metre tall city , and the most recent, a luxury eco-tourism destination, Zardun. The Red Sea Project, also announced in 2017, is set to add another layer to the region's booming tourism industry. The luxury regenerative tourism destination on the West coast, in the Tabuk province, is surrounded by the world's fourth-largest barrier reef system. The project covers more than 28,000 square kilometres and includes an archipelago of more than 90 islands, dormant volcanoes, mountain canyons and ancient archaeological sites. The plans include an eco-friendly resort carved into the mountains, futuristic overwater villas with views to rival the Maldives and new mangrove habitats. By 2030, it is hoped it will house 50 hotels with 8,000 rooms, and up to 1,000 residential properties. The Red Sea International Airport opened in September , with domestic flights now operating from Riyadh and Jeddah. The development of AlUla, a vast area estimated to be the size of Belgium, is planned to transform the region into one of the kingdom’s cultural capitals. The heritage site, with its preserved tombs and sandstone outcrops, is already a popular tourist destination and is served by Prince Abdul Majeed bin Abdulaziz International Airport, around 25km to the south-east. The Royal Commission for AlUla (RCU) was established in 2017 to preserve and develop the 2,000-year-old archaeological and historical site. AlUla Development Company, which is wholly owned by the PIF, launched operations in January last year. It plans to deliver hospitality, residential, retail and infrastructure projects as part of the tourism push. Planned developments include more than 7,500 hotel rooms, 5,000 residential units, a staff village comprising more than 1,000 units, as well as infrastructure support. AlUla is known as the home of Mada’in Salih, Saudi Arabia’s first Unesco World Heritage site. The master plan includes the development of five districts – AlUla Old Town, Dadan, Jabal Ikmah, Nabataean Horizon and Hegra Historical City . The RCU forecasts that the population of the area will triple to 130,000 by 2035, generating about 38,000 jobs. In 2023, the RCU signed an agreement with France's Centre Pompidou to develop a contemporary art museum in AlUla . Diriyah is a $62.2bn billion development project that aims to showcase Saudi Arabia's history. Founded around 1446, Diriyah served as the home of the Saudi royal family, and later, the capital of the First Saudi State. In 1824, the Second Saudi State was founded in Riyadh, just to the south of Diriyah. Diriyah Gate Development Authority, which is responsible for maintaining the heritage and history of Diriyah, is restoring many sites in the area, including Al Turaif District, the mud-brick city which is a Unesco World Heritage Site. The authority plans to complete restoration of all sites by 2025. Diriyah Company, the developer behind the transformation of the city into a tourism giga-project, announced plans to create King Salman Boulevard , a 1.9km avenue inspired by the Champs-Elysees in Paris, and the Royal Diriyah Opera House, a first for the kingdom. The heritage giga-project has set a target of 27 million domestic and international visitors by 2030. Qiddiya is a gigantic entertainment, sports and cultural development just outside Riyadh. It is set to be one of the largest entertainment destinations in the world, covering 334 square kilometres. When completed, it will have a Six Flags theme park , a Jack Nicklaus championship golf course, a water park, a speed park and a sports stadium. Contracts worth 10 billion Saudi riyals ($2.66 billion) have been awarded so far for Qiddiya City, which will include 60,000 buildings and is expected to eventually have more than 600,000 residents. The project aims to attract about 48 million visits a year. In December, Qiddiya Investment Company unveiled plans to open the world's first gaming and esports district as part of the project. The 500,000-square-metre centre is intended to host up to 25 esports teams at a time, as well as being the regional headquarters for more than 30 video game companies. Launched in 2019, the Sports Boulevard is planned to become the largest linear park in the world. It will be more than 135km long, extending through Riyadh, connecting Wadi Hanifa in the West to Wadi Al-Sulai in the east through Prince Mohammed bin Salman Road. It will have paths for pedestrians and cyclists, as well as horse trails and other sports facilities. Spanning more than 4,000 square kilometres on Saudi Arabia’s north-western coast, Amaala aims to be a year-round destination focusing on luxury tourism and wellness. When completed in 2027, it will have more than 25 hotels, luxury homes, 200 fine-dining outlets and a host of wellness and recreational facilities, set across three communities. Projects already announced include Six Senses Amaala, Rosewood Amaala, Clinique La Prairie Health Resort and the Triple Bay Yacht Club. The first phase of development, Triple Bay, is set for completion by the middle of 2024 and will consist of six hotels and more than 1,000 rooms. The Amaala development will be powered by 100 per cent renewable energy and aims to have a zero-carbon footprint. The project is being overseen by Red Sea Global, the developer behind the Red Sea Project. Unveiled in 2019, King Salman Park will be one of the largest city parks in the world once completed. Located at the former Riyadh Air Base site, the park is envisioned as Riyadh's “green lung”, with sports amenities, a golf course and an equestrian centre. With an overall size of 13.4 square kilometres, King Salman Park will be five times larger than London’s Hyde Park. Work has already started on the Visitors Pavilion and the Royal Arts Complex . The King Salman Park Foundation, which is responsible for the construction and operation of the park, launched the King Salman Park Real Estate Development Fund in September to develop more than 290,000 square metres of the park in partnership with the private sector. The fund, valued at 4 billion riyals, will develop around 1,500 apartments and town houses overlooking the park, along with offices and retail, hotels and educational facilities. Jeddah Central is a $20 billion project to develop 5.7 million square metres in the heart of Jeddah. There will be six districts: the Beach, Leisure and Lifestyle district, the Sports Park district, the Wellness district, the Cultural and Creativity district, the Marina district and the Central district. It will include four new landmarks: the industrial museum, the opera house, the sports stadium and the oceanarium. The development will be completed across three phases, with the first, accounting for 45 per cent of the project, set to be finished by the end of 2027. The second phase, due for completion in 2030, will focus on creating an economic, cultural and entertainment hub. Roshn Group – Saudi Arabia's biggest developer, owned by the PIF – announced plans to develop Marafy, a mixed-use megaproject north of Jeddah that includes an 11km canal. The 100m-wide navigable canal, the first in Saudi Arabia, will be flanked by promenades and residential and commercial districts. The canal will create a waterfront comparable in size to Chicago, Hamburg and central London, Roshn Group said. Water taxis will provide a direct link to King Abdulaziz International Airport. The horseshoe-shaped waterway will be connected to Obhur Creek, which flows to the Red Sea. The megaproject will accommodate more than 130,000 residents once completed. Masar is a 1.2-square kilometre urban development project in Makkah. The 100 billion riyal project features a 3.6km-long and 300-metre-wide central pedestrian boulevard leading to the Al Haram Mosque. Hotels, commercial and retail facilities, residential buildings and public amenities are being developed either side of the walkway. The owner and developer of Masar is Umm Al Qura for Development & Construction, whose investors include the PIF, the Ministry of Finance and the Public Pension Agency. Launched in 2021, Mohammed bin Salman Non-profit City (Misk) in Riyadh is a district that will act as an incubator for youth volunteer groups, as well as local and international non-profit institutions. It will also house venture capital companies and investors who will support and incubate talent and businesses. Occupying approximately 3.4 square kilometres, the city will host the Misk Foundation and its subsidiaries, schools, academies, local and international institutions and entrepreneurs. It will also house nearly 18,000 people. More than 44 per cent of the city’s total area will be dedicated to open green spaces. The Thakher Makkah project is a master plan of around 100 plots that will be used for hotels, residential, commercial, and service-related projects. The total value of the project, which spans 320,000 square metres, is 26 billion riyals. Billed as Riyadh's new downtown, the New Murabba is a planned mixed-use development in the north-west of the city, at the intersection of King Salman and King Khalid roads. At the heart of the project will be a huge cube structure called the Mukaab, built in a modern Najdi architectural style. It is set to be the world’s first immersive destination, offering virtual technology experiences. The New Murabba will have more than 25 million square metres of floor area, feature more than 104,000 homes, 9,000 hotel rooms and vast retail space. It will also comprise office and leisure space, and 1.8 million square metres for community facilities. Built around the concept of sustainability, featuring green areas and walking and cycling paths, the project will also include a museum, a technology and design university, a multipurpose immersive theatre and more than 80 cultural and entertainment venues. The project is expected to be completed by 2030, in time for the global expo. Riyadh's Expo 2030 site will cover about seven square kilometres and feature a “loop of the world” avenue connecting more than 200 pavilions. Located near the under-construction King Salman International Airport, the site is designed as a futuristic city with a modern green oasis. While no specific details have been released about the site, Saudi Arabia announced in June that it has allocated $7.8 billion of investments for Expo 2030. Work continues on Riyadh Metro, a $22.5 billion project that will consist of six metro lines connecting 85 stations across a 176km network. The project is expected to carry 1.2 million passengers daily in its roll-out phase, growing to 3.6 million at full capacity. It is expected to be completed this year. Jeddah's planned metro, consisting of three lines, is expected to be completed by 2025. The first phase will link King Abdulaziz International Airport with the Prince Abdullah Al-Faisal Stadium, central Al-Ruwais and Al-Khozam. The $60 billion network was scheduled to be completed by 2020 but has been delayed due to hold-ups in the completion of Jeddah’s bus network.

Saudi Arabia megaprojects 2024: From Neom to AlUla, 17 developments shaping its future

Value of property and infrastructure projects announced since 2016 has topped $1.25 trillion