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Top 5 Saudi Real Estate and Infrastructure Projects Shaping the Future

Published on October 07, 2024

Saudi Arabia's Vision 2030 has crossed the halfway mark, and the Kingdom is charging ahead with over $1.25 trillion invested in transformative real estate and infrastructure projects.

Saudi Arabia's Vision 2030 has crossed the halfway mark, and the Kingdom is charging ahead with over $1.25 trillion invested in transformative real estate and infrastructure projects. These monumental developments are positioning Saudi Arabia as a global leader in innovation, tourism, and sustainable living. They're reshaping the landscape of the nation and its economy.

But what does this mean for investors?

If you're looking to tap into one of the world's fastest-growing markets, understanding these key projects is crucial. They offer opportunities for investment, partnership, and long-term growth. In this guide, we'll explore five groundbreaking real estate and infrastructure projects that are driving Saudi Arabia's future and redefining what's possible for the region.

1. NEOM: The Futuristic Megacity

NEOM is one of the most ambitious real estate projects in the world. It aims to redefine urban living by integrating cutting-edge technology and sustainability. Once completed, NEOM is expected to house nine million residents.

Focused on renewable energy, biotechnology, and luxury living, NEOM offers a glimpse into the future of living. The project has drawn global talent and investment, with over $70 billion in contracts already awarded and more than 20% of the development completed.

2. Diriyah Gate: A Cultural and Historical Revival

Diriyah Gate is a $20 billion project dedicated to restoring the historic city of Diriyah. The development will feature 20,000 new homes, luxury hotels, and retail spaces, all designed to honour the city's rich cultural heritage.

Expected to be fully finished by 2027, Diriyah Gate is quickly becoming a premier destination for those looking to experience and invest in a piece of Saudi Arabia's history.

3. The Red Sea Project: Luxury Meets Sustainability

Located along Saudi Arabia's stunning western coastline, the Red Sea Project is set to become a top-tier tourist destination.

Focusing on sustainable tourism, the project aims to protect the environment while offering high-end accommodation. The development will feature over 50 hotels, 8,000 hotel rooms, and a range of residential properties.

The first resort opened in 2023, with 16 more set to launch through 2025. With a goal of attracting one million visitors annually by 2030, the Red Sea Project plays a key role in Saudi Arabia's Vision 2030 tourism strategy.

4. Roshn: Redefining Residential Living

Roshn is a multi-billion dollar project focused on building vibrant and sustainable communities throughout Saudi Arabia. The project aims to provide modern housing with an emphasis on green spaces and community facilities.

The first Roshn development in Riyadh has already sold over $2.5bn-worth of residential units, with plans to expand into other major cities. As a key part of Saudi Arabia's Vision 2030, Roshn is driving efforts to boost homeownership and raise living standards across the Kingdom.

5. Qiddiya: The Ultimate Entertainment Hub

Located near Riyadh, Qiddiya is set to become Saudi Arabia's leading destination for entertainment, sports, and culture. This $8 billion project will feature theme parks, sports arenas, and other attractions.

Qiddiya is expected to generate over 325,000 jobs and contribute 135 billion Saudi Riyals ($36 billion) to the GDP annually. The Qiddiya Investment Company has already awarded contracts worth $2.7 billion, with the main waterpark 61% completed and the Six Flags theme park 59% finished.

Conclusion

Saudi Arabia's Vision 2030 is focused on building a brighter future by enhancing the quality of life for its people. These five projects highlight the Kingdom's dedication to achieving its goals.

To see these groundbreaking developments up close, secure your place at Cityscape Global 2024. Attending the world's largest real estate event is an opportunity to explore the future of living and discover top investment opportunities in Saudi Arabia and beyond.