Overview

• Saudi Arabia has awarded $196 billion in contracts this year, a 20% increase from 2024, according to Knight Frank’s fourth annual Giga Projects report.
• The programme is shifting from planning to large-scale build-out across cities, infrastructure, tourism destinations and sports venues.
• Riyadh leads the agenda, accounting for 63% of new jobs since 2019 and targeting by 2030 more than 340,000 homes, 4.8 million sqm of offices, 3 million sqm of retail and nearly 30,000 hotel rooms.
• NEOM subprojects have secured $24 billion in construction contracts, including $8.9 billion for The Line, $9.3 billion for Oxagon, $3.31 billion for Trojena and $470 million for Magna.
• Western seaboard developments encompass 17 giga projects with $431.3 billion announced since 2016, $57 billion already awarded, a $187.2 billion pipeline, and roughly $17.5 billion earmarked for stadium upgrades or new builds by 2032 to support major tournaments.