Skip to content Skip to Search
Skip navigation

Giga-projects

Saudi Arabia giga-projects news covering Neom, AlUla, Roshn, Amaala, Red Sea Global, Diriyah, Qiddiya, Expo 2030 and more.

A construction site in Abu Dhabi. The Adpic programme aims to transform the emirate's tourism sector as well as housing and transport

$54bn private investment sought for Abu Dhabi infrastructure

Abu Dhabi is overseeing more than 600 infrastructure projects valued at more than AED200 billion ($54 billion), representing an opportunity for the private sector to collaborate on a pipeline of projects that are integral to the emirate’s Economic Vision 2030 plan, a senior official said. The projects, being led by the Abu Dhabi Projects and […]

Construction work in Riyadh. The Saudi capital is hoping to draw private sector funding for massive projects such as Expo 2030

Riyadh hopes to entice private sector to landmark projects 

Riyadh is courting private-sector investors to fuel its ambitious development agenda, offering significant opportunities but grappling with resistance from companies citing financial risks, a senior official said. The push to involve private firms highlights Saudi Arabia’s challenges as it transitions from government-led development to growth driven by the private sector, a pillar of its Vision […]

Since last year a new framework has supported foreign law firms’ creation of joint ventures with local counterparts, through acquisitions or Saudi subsidiaries

Rise in major US law firms setting up in Saudi Arabia

Attracted by the host of complex and potentially lucrative legal issues raised by Saudi Arabia’s development push, several of the largest law firms in the US are formally setting up shop in the kingdom, either directly or through mergers and acquisitions. Among those making the leap is Atlanta-based company King & Spalding. A spokesperson confirmed […]

Crown Prince Mohammed bin Salman said the positive economic indicators were due to the ongoing Vision 2030 reforms

Saudi Arabia forecasts 2025 fiscal deficit of $27bn

Saudi Arabia has approved its 2025 state budget, which estimates total revenues at SAR1.18 trillion ($314 billion) and expenditures at SAR1.28 trillion – resulting in a fiscal deficit of SAR101 billion ($26.9 billion). The finance ministry said this would represent 2.3 percent of gross domestic product, which is lower than the 3 percent of GDP […]

Experts say private sector involvement in the construction sector is likely to grow further in coming years

Private money leading charge in Saudi construction industry

Private sector participation in Saudi Arabia’s construction industry is powering investment in the sector, according to a senior economist. Overall gross fixed capital formation – a measure of investment in an economy’s infrastructure, schools and other physical assets, as well as related tools and machinery – is up 3 percent year on year in the […]

Diriyah Company CEO Jerry Inzerillo said that Diriyah will once more become "a gathering place for the world"

Saudi’s Diriyah adds cultural districts to $63bn plan

Diriyah Company, backed by Saudi Arabia’s Public Investment Fund, has started construction on multi-billion dollar educational and arts districts in the $63.2 billion giga-project. Spanning an area of 14 sq km, the “world’s biggest urban development projects” will house the Qurain Cultural District and Northern District. The Qurain Cultural District will include a range of arts, […]

In the absence of any concrete structures as yet, Neom exhibitors provided virtual reality sets to give throngs of curious visitors a sense of what The Line will look like

Leaders of The Line share vision of a brave new world

Its managers and designers say it is the human society of the future, but others might see in it a dystopian vision of life shielded in a glass box from an uninhabitable world.  Leading figures behind the Neom city The Line – the boldest of Saudi Arabia’s $1.25 trillion giga-projects – made a coordinated pitch […]

One goal for the kingdom's giga-projects is to 'provide for Saudis and Saudi families'

Saudi giga-projects are going local with new focus

Giga-projects gaining local focus Providing for Saudi families Prices may still be too high for locals A nationalist sensitivity towards the leadership and aims of Saudi Arabia’s massive giga-projects is slowly taking hold, as foreign CEO... Register now: It’s easy and free This content is available for registered members only. Register for your free account […]

Roshn was established to deliver 400,000 homes under the Vision 2030 goal of reaching 70 percent homeownership; ownership was at 64 percent in 2023

Banks vying to fund Roshn’s Saudi expansion

Interest in PIF-backed Roshn Turning away lenders Plan is backed by consortium Saudi real estate developer Roshn, a subsidiary of the Public Investment Fund (PIF), is reporting strong interest from banks eager to finance its projects, ...

Businessmen watch an on-screen presentation of Saudi Arabia's Trojena project at the Mipim in Cannes.

Neom’s Trojena to launch first apartment sales in new year

The Saudi winter resort of Trojena will begin putting its first residential apartments and villas on the market within a few months, a senior official said on Wednesday, after its parent company Neom announced a new CEO in an effort to reinvigorate the giga-project.  “2025 is very exciting for us at Trojena, we’re hoping early […]

Grover was recruited as CEO in 2020 to lead Roshn’s construction of 400,000 homes as part of Vision 2030

Former CEO sues Roshn for $100m over ‘unpaid bonuses’

The former CEO of Roshn, David Grover, is suing the Saudi property developer for more than $100 million, claiming unpaid bonuses and wrongful termination.  Grover, who lost the initial stage of his case against the state-owned company in October, has appealed to a higher court in Riyadh, the Financial Times reports. Grover alleges that Roshn […]

Saudi Arabia says Vision 2030 will create housing for ordinary citizens, not just tourism projects Video length: 06:30

Minister trumpets Saudi Arabia’s $168bn housing push

Real estate transactions in Saudi Arabia have totalled $168 billion so far this year, the Saudi minister of municipalities and housing, Majed Al Hogail, told a real estate forum in Riyadh this week. Speaking at the Cityscape exhibition, which is trying to promote Riyadh-centred giga-projects, the minister said that Saudi Arabia is pushing to finish […]

Nadhmi Al Nasr, a veteran of state oil giant Aramco, had overseen Neom since its launch but has now been replaced as CEO Video length: 06:30

Neom replaces CEO in bid to move past negative headlines

Saudi megacity Neom has replaced its CEO Nadhmi Al Nasr in an apparent effort to boost the kingdom’s highest-profile giga-project after a string of delays.  Aiman Al Mudaifer has been appointed “acting CEO of the company”, Neom said in a statement on Tuesday. “Al Mudaifer assumes the leadership of Neom following Nadhmi Al Nasr’s departure.”  […]

Saudi Arabia fans wave flags before a World Cup qualifier in Jeddah. The country is sole bidder for the 2034 tournament

Roshn seeks contractors for Riyadh World Cup stadium

Saudi real estate developer Roshn is inviting expressions of interest from international and local contractors for its 45,000-seat football stadium in Riyadh. Iain McBride, Roshn’s head of commercial, said the Public Investment Fund subsidiary was actively seeking partners “very early in the process” to help “de-risk” the project. “What we don’t want is to design, […]

Saudi Arabia's finance minister Mohammed Al Jadaan on stage at the FII conference. The country's revenue has risen 12%

Saudi Arabia’s deficit rises again as oil output cuts bite

Saudi Arabia’s budget deficit was SAR58 billion ($15.5 billion) in the first nine months of 2024, rising by SAR30 billion in the third quarter alone and confirming predictions of a funding crunch for the country’s giga-projects.  The finance ministry said in October that it expects to post an overall deficit of SAR118 billion this year […]

At-Turaif in Diriyah. Restoration and other projects in the region are now due for completion in 2030

Diriyah delays completion date as projects vie for funds

The historical district of Diriyah, one of Saudi Arabia’s major giga-projects, will be completed in time for the World Expo in 2030 – three years later than previously announced, its CEO Jerry Inzerillo said on Wednesday.  The giga-projects, valued in total at more than $1.25 trillion, are competing for government and private sector resources amid […]

Saudi riyadh expo 2030

The remaking of Riyadh ahead of World Expo 2030

Expo 2030 is already propelling real estate development in Riyadh six years before the international fair is scheduled to take place – and, along with other giga-projects, is helping to shift the city’s core to the north. The World Expo, which typically takes place in a different city every five years, is expected to occupy […]

neom private sector deputy CEO Rayan Fayez

Neom raises $24 billion from the private sector

The Saudi giga-project Neom has secured SAR60 billion ($16 billion) in private sector funding and SAR30 billion ($8 billion) in loans as it tries to move away from reliance on government cash. The revelation was made by deputy CEO Rayan Fayez to the Future Investment Initiative forum in Riyadh on Wednesday.  Fayez said: “What we’ve […]

Clothing, Hat, Aircraft

Saudi Arabia pins branding hopes on Riyadh Air launch

Saudi Arabia still hasn’t found the magic sauce for branding its social and economic reforms.  Hopes are high that the launch of Riyadh Air will do for the kingdom what Emirates airline did for Dubai, industry experts say. “We saw the journey of the UAE, how brands started there then became iconic on a global […]

The housing needs of hundreds of thousands of workers on construction sites in Saudi Arabia will now be met by the Smart Accommodation for Residential Complexes Company

PIF launches company to build worker accommodation

Saudi Arabia’s Public Investment Fund (PIF) has established a company to develop and operate accommodation for workers employed on major projects in the kingdom. Smart Accommodation for Residential Complexes Company (Sarcc) will build workers’ accommodation for both public and private sector developers who are working on projects across the country.  Sarcc will also seek opportunities […]