Saudi Arabia has announced several ambitious plans to build a series of large-scale projects aimed at reshaping the country into a prominent global economic force, over the past few years.
These initiatives, which involve substantial investments amounting to billions of dollars, seek to diversify the nation’s economy beyond oil, generate employment opportunities, and enhance its reputation as a premier destination for trade and tourism.
That said, here are 4 upcoming megaprojects that will play a key role in ensuring the Kingdom’s Western Province's massive transformation:
Saudi Arabia’s AlUla is an ancient heritage site with over 200,000 years of history. It contains important cultural sites, sandstone mountains and oases.
The kingdom is transforming AlUla into an international tourism destination through an ambitious master plan led by Crown Prince Mohammed bin Salman.
The plan aims to increase visitation and economic growth in the region. It will develop AlUla into five historic districts connected by trails and a new tram system.
Significant infrastructure and hotels will be built to accommodate tourists, with a target of 9,400 hotel rooms by 2035.
The goal of the multi-billion dollar project is to contribute greatly to Saudi Arabia’s economy and diversify revenues away from oil dependence. It aims to create 38,000 new jobs and add $32 billion annually to GDP by 2035.
AlUla will feature new museums, cultural centers, and eco-tourism resorts carved into the sandstone mountains.
The project launched a new development company backed by Saudi Arabia’s huge sovereign wealth fund to transform AlUla into a global tourism destination and preserve its important ancient cultural heritage.
SEVEN, a subsidiary of Saudi Arabia’s Public Investment Fund (PIF), has announced the establishment of its fifth entertainment destination located in Abha, Aseer region.
With an investment of over SAR1.3 billion, the 64,000 square meter development will feature a diverse array of attractions for families and people of all ages across 79,000 square meters of indoor space.
Inspired by the region’s ancient stone architecture, the design seamlessly integrates with the local urban code to preserve cultural identity.
Expected to generate SAR4 billion GDP and over 5 million visitors annually by 2030, the theme park will create hundreds of jobs and support the Vision 2030 goal of developing a world-class entertainment sector.
The destination will include eight unique attractions from an indoor golf facility and e-karting to a 10-screen cinema and Play-Doh-themed zone.
Partnerships with global brands like Warner Bros., Hasbro, and AMC will deliver high-quality experiences. Modern Building Leaders was appointed as the main contractor to execute the project sustainably using advanced technology.
Covering over 14 cities, SEVEN’s 50 billion SAR investment plan aims to establish 21 entertainment destinations nationwide.
Saudi Entertainment Ventures (SEVEN) has announced a new SAR1.1 billion ($292 million) entertainment centre coming to Yanbu.
Located along the seafront promenade on Al Nawras Island, the destination will feature carnival rides, a 10-screen cinema, a bowling alley, indoor golf, and a climbing facility.
Inspired by Yanbu’s heritage as one of Saudi Arabia’s oldest ports, the design celebrates the city’s coastal history.
AL BAWANI and UCC Saudi were awarded the construction contract to deliver this project, which will offer residents and visitors a variety of engaging experiences.
The new destination is anticipated to support Yanbu’s rapidly developing entertainment sector by meeting the needs of the growing population.
SEVEN’s overall SAR50 billion investment plan aims to establish 21 world-class entertainment destinations across 14 cities nationwide by 2030.
Partnering with global sector leaders, SEVEN strives to create a sustainable industry and enrich community life through innovative experiences at destinations like the upcoming facility in Yanbu.
The Jeddah Economic Company has resumed construction on the Jeddah Tower project in Saudi Arabia.
The tower is set to surpass 1,000 meters in height and become the world’s tallest building, topping Dubai’s Burj Khalifa by over 172 meters.
JEC has initiated the bidding process for contractors to complete the record-breaking structure.
Major companies from Saudi Arabia, South Korea, China and elsewhere have been invited to bid, with joint ventures between local and international partners expected to be formed.
Contractors have already conducted initial site visits in preparation for their proposals.
Dubbed Kingdom Tower, it will serve as the centerpiece of the massive Jeddah Economic City development spanning 1.5 square kilometers.
When complete, it will include luxury residential units from 2-6 bedrooms to accommodate a variety of living needs.
Residents will have access to extensive amenities such as shopping malls, boutiques, gourmet restaurants, tennis courts and the world’s highest observation deck offering panoramic views.
Offices, hotels like the Four Seasons, and condominiums will also be incorporated into the towering skyscraper development.
Source: Arabian Business
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