Saudi Arabia has six designated giga-projects – NEOM, Red Sea Global, Qiddiya, New Murabba, ROSHN and Diriyah – and numerous mega projects that span across the country. Here is an update on some of the key projects:
• NEOM: NEOM remains the largest and most complex development in the kingdom’s portfolio, spanning 26,500 sq km in Tabuk Province along the Red Sea. Encompassing The Line, Trojena, Sindalah, Oxagon and Aqaba, NEOM has undergone a profound recalibration since 2025.
Construction on The Line was suspended by Public Investment Fund (PIF) in September 2025, following a year-long strategic review. Only approximately 2.4 km of foundation work has been completed against the original 170 km vision. A strategic review is expected to produce a redesigned concept that utilises existing infrastructure in a different manner, with data centres and AI infrastructure mooted as a potential new focus.
The 2029 Asian Winter Games at Trojena were postponed indefinitely in January 2026, according to a joint statement by the Saudi Olympic Committee and the Olympic Council of Asia. NEOM subsequently cancelled multibillion-dollar dam and tunnel agreements, including the Webuild contract for three dams and ‘The Bow’ architectural structure, a Hyundai E&C/Samsung C&T/Archirodon $1-billion tunnel contract, and an Eversendai structural steel contract.
Oxagon, NEOM’s coastal industrial city and port, remains active. The NEOM Green Hydrogen Company’s plant is nearing completion, with 4 GW of renewable power generation and electrolyser commissioning scheduled in 2027.
In a media interview last month PIF Governor Yasir Al-Rumayyan said that the next phase of NEOM will focus on delivering major projects with a reduced financial contribution from the PIF (see Page 96).
• Jeddah Tower: Set to be the world’s first 1,000-m-plus man-made structure, Jeddah Tower has reached a key milestone by surpassing 100 storeys, with its height now at 400 m. Located on Jeddah’s Red Sea waterfront, the “Skypiercer” marks significant progress after years of delays (see Page 36).
• Diriyah: Diriyah Gate is among the most advanced and actively delivering giga-projects. The SAR236 billion ($63.2 billion), 14-sq-km masterplan centred on Riyadh’s 15th-century UNESCO World Heritage at-Turaif site has awarded SAR120 billion contracts to date. Plans for the Grand Avenue, a 1.9-km mixed-use spine featuring 85,000 sq m of retail, 2,400 luxury residences, six hotels, and seven iconic landmarks, were announced at MIPIM 2026 (see Page 24).
Adrena adventure district ... newly unveiled at the Red Sea Project.
• The Red Sea and Amaala: The Red Sea destination, which welcomed its first guests in 2023, now has nine operational hotels and is accessible via Red Sea International Airport. Early this year, Red Sea Global (RSG) launched the Adrena adventure district near Shura Island. Its adjacent project Amaala, another ultra-luxury destination on the northwest coast, is advancing in parallel.
• Qiddiya: Qiddiya, the 360-sq-km entertainment and sports giga-project southwest of Riyadh, has newly opened its water theme park Aquarabia, following the launch of Six Flags Qiddiya City, the inaugural entertainment project, which opened on December 31, 2025. There are plans to connect the city to KAFD and King Salman International Airport in 30 minutes with the Qiddiya’s High-Speed Rail (see Page 40).
• EXPO 2030 RIYADH: With its October 2030 opening date immovable, the Expo 2030 Riyadh site is one of the fastest-accelerating construction programmes in the kingdom. The government has allocated $7.8 billion for the 6-million-sq-m greenfield site in north Riyadh. Country pavilions are expected to break ground at the site in Q3 2026 (see Page 9).
New Murabba ... work in progress on some parts of the project.
• New Murabba: The Mukaab, a 400-m cube-shaped skyscraper that would have been the world’s largest building by floor area has been suspended by New Murabba Development Company (NMDC) for financing and feasibility reassessment, according to Reuters. However, NMDC has issued an RFI for modular and offsite fit-out solutions for four corner towers (about 375 m tall, 80+ storeys) around the Mukaab footprint, keeping the broader New Murabba district project active. The focus within New Murabba has shifted to delivering the commercial, residential and hospitality ecosystem around the Mukaab site.
• King Salman Park: King Salman Park Foundation, which is spearheading its flagship urban development in Riyadh, has recently unveiled over $3.8 billion in new private-sector commitments during the MIPIM 2026 conference. These investments bring total project funding across five development packages at King Salman Park to more than SAR20 billion. The foundation has awarded a SAR11 billion contract for Package 5, a residential-led mixed-use district, to a consortium led by Kolaghassi Development Company. Supported by a Capital Market Authority-regulated investment fund managed by Mulkia Investment, the project includes partners Al Othaim Investment and US-based RXR. Concurrently, Package 4, valued at SAR3.2 billion, is being executed by a consortium led by Retal. This development will deliver an integrated urban district featuring over 600 residential units, 140 hotel keys, and 50,000 sq m of office space.
• Jeddah Central Project: Jeddah Central Development Company (JCDC) is advancing the first phase of its 5.7-million-sq-m Jeddah Central project, which is due for completion by end-2027. Located between Al-Salam Royal Palace and a desalination plant, the development featuring four key landmarks – an opera house, museum, stadium and oceanarium – and includes a 9.5-km waterfront, yacht marina, beaches and a 100-m-wide green promenade, alongside plans for 17,000 homes and 2,700 hotel rooms. Construction is in progress on the opera house, oceanarium, and the 45,000-seat FIFA-compliant stadium. The museum, designed by Britain’s Heatherwick Studio, will repurpose a former desalination plant into an industrial and cultural hub, set to open in 2028.
Rua Al Madinah Superblock 5 ... major contract awarded.
• Rua Al Madinah: Rua Al Madinah Holding has awarded the main construction contract for Superblock 5 of the Rua Al Madinah project, marking a key phase in the kingdom’s plan to expand hospitality infrastructure near the Prophet’s Mosque. The development will feature 18 hotel towers, ranging from 11 to 21 storeys. Located east of Al Masjid an Nabawi (see Page 32).
• Masar Destination: Umm Al Qura for Development which is spearheading the 1.2-million-sq-m Masar Destination, has awarded SAR4.1 billion in two superstructure packages and is delivering hospitality towers and commercial centres directly adjacent to the Grand Mosque.