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Giga-projects construction news from the Middle East. All the important stories, exclusive interviews, plus authoritative opinion and analysis

Qiddiya tourism

$1bn tourism school to open in Saudi’s Qiddiya

Saudi Arabia plans to build a $1 billion tourism school in the Qiddiya sports, culture and entertainment city giga-project.  The Riyadh School for Tourism and Hospitality will train workers from around the world, not only Saudi Arabia, tourism minister Ahmed Al-Khateeb told a UN World Tourism Organization gathering in the capital. The training headquarters at […]

Artist's impression of the planned cliff-top football stadium in Qiddiya, Saudi Arabia's entertainment and sports complex south-west of Riyadh

Saudi developer wins $610m Qiddiya giga-project contract

A SAR2.3 billion ($610 million) contract has been awarded to carry out key infrastructure work on Saudi Arabia’s Qiddiya giga-project, described as the country’s capital of entertainment. The Saudi Real Estate Company said in a filing on the Saudi Stock Exchange on Monday that contracts have been agreed between the Qiddiya Investment Company and one […]

Marriott's W Hotel in Lake Village, part of Saudi Arabia's Neom giga-project, will have 236 rooms, including 47 suites

Marriott to open two luxury hotels in Neom’s Trojena

Global hotel chain Marriott International will open two luxury properties in Trojena, a year-round mountain destination in the $500 million Neom development. The deal with the US hotelier includes Saudi Arabia’s first W Hotel and a JW Marriott property. “We are excited to work with Neom to develop these two properties in one of the […]

Saudi Crown Prince Mohammed bin Salman's number one priority is funding the kingdom's Vision 2030 giga-projects

Saudi economy slips as government pushes oil cuts

Analysts see the Saudi economy contracting in 2023 as a result of voluntary oil production cuts.  Higher prices, however, will still ensure that state coffers are full enough to meet the kingdom’s number one priority – funding its mammoth Vision 2030 diversification projects.  The International Monetary Fund said this month it saw a slowdown in […]

AtkinsRéalis says Saudi Arabia is 'super competitive, particularly from a salary progression perspective'

Saudi construction workers spoilt for choice

Saudi Arabia’s trillion-dollar construction industry is providing rich pickings for professionals as companies increasingly struggle to retain talent. The kingdom has projects worth over $1.3 trillion underway and a further $64 billion in contracts forecast to be awarded this year. But while that places pressure on companies to recruit the necessary talent, employees are enjoying […]

A man works out at a Fitness Time Xpress. Leejam runs 170-plus gyms in Saudi Arabia and the UAE

Leejam seeks payoff for forced closure of Riyadh gyms

Leejam Sports Company is seeking compensation after being forced to close two of its gyms in Riyadh. The shuttered Fitness Time centres are on land in the city’s Al Khuzama district, which has been earmarked for the $50 billion Diriyah Gate project. In a filing to the Saudi Stock Exchange, Leejam said the two centres […]

Developer Talaat Moustafa's other projects include Noor City in East Cairo

Egypt’s Talaat Moustafa to help build Saudi ‘smart city’

Egyptian real estate developer Talaat Moustafa Group said on Sunday it had signed an agreement with the Saudi National Housing Company to build a residential and commercial suburb northeast of Riyadh. The value of the deal is estimated at SAR40 billion ($10.7 billion).  The community, described as a “smart city”, will include 27,750 residential units […]

Roshn awarded a SAR 7.7 billion construction contract to China Harbour Engineering Company for its Sedra and Warefa communities in Riyadh

Roshn awards $2.4bn contracts for Saudi projects

Roshn, a real estate developer backed by Saudi Arabia’s Public Investment Fund, has finalised four major commercial agreements with local and global companies valued at over SAR9 billion ($2.4 billion).  The agreements cover construction, infrastructure and fittings for Roshn’s developments across the kingdom. The largest was a SAR 7.7 billion construction contract with engineering contractor […]

Saudi banks slowdown giga-projects

Saudi banks face slowdown as giga-projects take toll

Saudi banks are witnessing a slowdown, impacting liquidity, net profits and share price across the sector, as the pressure of funding the kingdom’s giga-projects takes its toll, analysts say.  Growth in net profit at the top ten banks slowed to 0.3 percent in the second quarter and the Saudi index of bank stocks fell 18.8 […]

Saudi canal

Saudi Arabia reveals latest giga-project with 11km canal

Saudi Arabia has announced its latest giga-project with plans to develop an 11-kilometre-long canal north of Jeddah. The mixed-use waterfront destination, which will be home to over 130,000 residents, will be developed by Roshn Group in partnership with the kingdom’s Public Investment Fund. To be known as Marafy, the project includes the first manmade canal […]

Saudi net zero

Saudi Arabia plans zero carbon industrial park

Plans for a zero carbon industrial park at King Abdullah Economic City, the megacity being developed on Saudi Arabia’s Red Sea coast, are under way following an agreement with green investment company Skytower. Saudi Press Agency said that King Abdullah Economic City’s organising body signed the deal with Skytower on Monday. It reported that the […]

Neom has appointed JLS Yachts to manage Sindalah, the development’s first superyacht destination on the Red Sea

Neom appoints manager for superyacht destination

Saudi’s $500 billion giga project Neom has appointed a company to head its superyacht destination on the Red Sea. JLS Yachts, a Middle East-based yacht agency and concierge service provider, will manage Sindalah, which will be home to more than 5,000 berths. Set to open in 2024, Sindalah is one of the 41 Neom islands […]

Red Sea Global Six Senses Southern Dunes

Red Sea project gets world’s first zero-carbon 5G network

Mega-developer Red Sea Global and Saudi-listed telco Zain KSA have launched the world’s first zero-carbon 5G network at the Six Senses Southern Dunes resort in The Red Sea project. The 5G network is powered by 100 percent renewable energy from over 760,000 solar panels that Red Sea has built to power the entire 28,000 sq […]

Southern Dunes Six Senses at Red Sea resort

Saudi giga-project Red Sea to open first hotels this year

The first three hotels at Saudi Arabia’s multi-billion dollar Red Sea destination are on track to open later this year, its developer announced on Wednesday. Red Sea Global (RSG), the company behind tourism destinations Amaala and The Red Sea, also said the first domestic flights are set to take off from its international airport before […]

Saudi mountain tourists

Aseer province is Saudi’s next untapped tourism hotspot

The mountainous region of Aseer is Saudi Arabia’s next target for tourism investment, according to one of the kingdom’s most prominent industry leaders.  Developing Aseer and encouraging repeat visits will be key to helping the kingdom meet its tourism goals, said Salman Gassim, government advisor and chief executive of Riyadh-headquartered Swiss Hospitality Company.  Gassim, whose […]

Saudi catering firm signs $2.4bn deal with Red Sea Global

Saudi Airlines Catering Company (SACC) has signed two contracts worth SAR9 billion ($2.4 billion) with Red Sea Global, the developer of Red Sea and Amaala mega projects. The first contract, valued at SAR6.3 billion, is to design, build, operate and transfer a central production unit for catering and facilities management to service RSG hotels, resorts […]

Red Sea Global resort

Red Sea signs ‘pioneering’ carbon-negative concrete deal

Red Sea Global and Bahamas startup Partanna have agreed to trial the use of carbon-negative concrete and other products at the kingdom’s Red Sea and Amaala giga-projects. The deal – the value of which is not disclosed – is the next stage of partnership between the companies. As revealed by AGBI, the two began exploring ways […]

Saudi giga-project Mukaab Riyadh, part of Vision 2030

Saudi banks need more funding to finance Vision 2030

The Saudi banking system cannot provide enough funding alone to finance the kingdom’s ambitious Vision 2030 and will require a combination of developing the local capital market and tapping international markets, S&P said on Wednesday. While the banking sector has seen rapid growth over the past few years, primarily driven by mortgages, deposit growth has […]

Neom Saudi

New $2bn port to serve Saudi’s Neom

More than SAR7.5 billion ($2 billion) has so far been invested in a new port at Saudi Arabia’s planned $500 billion smart city Neom, with plans to open a new terminal in 2025. Located on the Red Sea at the crossroads of global trading routes, the port will be a critical enabler for Neom and […]

Saudi giga-project Mukaab Riyadh, part of Vision 2030

Saudi giga-projects may tap into debt market funding

Saudi Arabia’s vast pipeline of giga-projects will require funding assistance due to the tightened liquidity in the country’s banking sector, say analysts at credit rating firm S&P Global. This, they add, opens opportunities for the Gulf’s debt markets. “We think that the Public Investment Fund and Saudi’s banking sector alone won’t be able to fund […]

Saudi Arabia's long list of mega-projects is taking up much of the construction capacity in the country, giving Ardco a hurdle to overcome

Ardco’s $1.6bn vision blurred by Saudi mega-projects

A slowdown in residential property demand and construction capacity issues due to Saudi Arabia’s bulging projects pipeline will be among some of the challenges facing Ardco, the latest player to the Riyadh property market and development scene, experts said. Ardco, which is also known as the Riyadh Development Company, announced last month it is becoming […]