Top 10 New Projects in Saudi Arabia (Approved Projects)

Saudi Arabia is in the midst of a major transformation, with a wave of new projects that promise to reshape the country’s future. In just a few years, Saudi Arabia has gone from quiet desert landscapes to a hub of cranes, concrete, and futuristic ambitions.

This construction boom is part of the country’s Vision 2030 — a bold blueprint to diversify the economy, reduce oil dependence, and turn Saudi Arabia into a global destination for business, tourism, and innovation. Here’s a look at some of the most ambitious and impactful upcoming projects in Saudi Arabia.

1. The Line

Located in NEOM, Tabuk, The Line is one of Saudi Arabia’s most ambitious megaprojects. Planned as a 170-kilometer linear smart city, it is designed to run on 100% renewable energy and integrate AI technologies for transportation, services, and infrastructure. The project is estimated to cost over $500 billion and is a central part of Saudi Arabia’s Vision 2030.

Construction began in 2021, and initial phases are expected to be completed by 2030. As of now, excavation and foundational work are actively progressing, with significant sections already underway. The project is being developed by NEOM Company, which is backed by Saudi Arabia’s Public Investment Fund.

2. Oxagon

Also situated in NEOM, Tabuk, Oxagon is being developed as the world’s largest floating industrial complex. It aims to be a hub for advanced and clean industries, integrating robotics, logistics, and AI within a sustainable, circular economy framework. The estimated cost is part of NEOM’s $500 billion umbrella funding.

Expected to be operational by 2030, the project has entered its early development phase. Initial infrastructure work has started, with key partnerships being signed in 2024. It is being constructed by NEOM Company under the Public Investment Fund’s oversight.

3. Trojena

Located in the mountainous region of NEOM, Trojena is set to become a one-of-a-kind outdoor tourism destination featuring year-round skiing, luxury resorts, and wellness retreats. The development will cost approximately $6 billion and is expected to be completed by 2026, in time to host the 2029 Asian Winter Games.

Construction is currently in progress, with early infrastructure and environmental planning well underway. The project is spearheaded by NEOM Company, with funding from the Public Investment Fund.

4. Sindalah Island

Part of the NEOM project in the Red Sea, Sindalah Island is being developed as a luxury island getaway featuring high-end resorts, marinas, and retail zones. With a development budget of around $1 billion, the island is designed to attract elite global travelers and yacht owners.

Sindalah is scheduled to open in 2024, with finishing touches on its hospitality and entertainment infrastructure nearing completion. It is the first major tourism project by NEOM Company, developed under the guidance of the Public Investment Fund.

5. Diriyah Gate

Located just outside Riyadh in Diriyah, Diriyah Gate is a massive cultural and historical development centered around the UNESCO World Heritage Site of At-Turaif. The project is expected to cost $63.2 billion and aims to offer over 100 heritage and cultural experiences, alongside hotels, museums, and lifestyle venues.

Slated for full completion by 2030, Diriyah Gate has already seen significant progress, with several restaurants and cultural attractions already opened to the public. The project is being developed by the Diriyah Gate Development Authority.

6. New Murabba Project

In the heart of Riyadh, the New Murabba Project includes the iconic Mukaab skyscraper—an immense cube-shaped structure set to become a landmark of modern architecture. The total project cost is expected to exceed $50 billion, combining residential, commercial, and entertainment zones.

Targeted for completion by 2030, the project is currently in the design and master-planning phase, with groundwork expected to begin soon. It is being developed by the New Murabba Development Company, established by the Public Investment Fund.

7. Jeddah Central Project

Located on the Red Sea coastline, the Jeddah Central Project (formerly New Jeddah Downtown) is a $20 billion urban regeneration initiative covering over 5.7 million square meters. It includes cultural venues, a marina, resorts, and beachside promenades.

Currently under construction, the project is expected to be completed in phases, with major portions ready by 2027. It is being led by the Jeddah Central Development Company, a subsidiary of the Public Investment Fund.

8. Green Riyadh Project

The Green Riyadh Project is one of the world’s largest urban afforestation initiatives, aiming to plant 7.5 million trees across the capital to improve air quality, reduce heat, and boost quality of life. Part of the larger Saudi Green Initiative, it carries a projected cost of $11 billion.

Scheduled for completion by 2030, the project has already launched several pilot parks and tree-planting programs. It is being executed by the Royal Commission for Riyadh City.

9. Dahiyat AlFursan

Dahiyat AlFursan is a massive residential development on the eastern side of Riyadh, led by Roshn, a PIF-backed real estate company. Spread over 35 million square meters, it’s designed to include more than 50,000 homes, alongside schools, parks, and mosques.

The first phases are currently under development, with homes expected to be delivered by 2026. The entire project is managed by Roshn, a real estate subsidiary of the Public Investment Fund.

10. The Red Sea Project

Positioned along the Red Sea coast in Tabuk, The Red Sea Project is one of the Kingdom’s flagship tourism initiatives. Covering over 28,000 square kilometers and costing more than $8 billion, it includes luxury resorts, an international airport, and 90 untouched islands.

The first phase, which includes 16 hotels and the airport, is expected to be completed by 2025. The development is being handled by Red Sea Global, a company wholly owned by the Public Investment Fund.

Read More: How Trump Affected the Economy

While these ten projects highlight the scale and ambition of Saudi Arabia’s ongoing transformation under Vision 2030, they are just the beginning. Numerous other groundbreaking developments have been announced across the Kingdom, ranging from futuristic cities to sustainable energy hubs and advanced infrastructure plans. Though many of these are still in the planning or pre-construction phases, they underscore the country’s long-term vision to diversify its economy and redefine its global presence. As these projects take shape in the coming years, Saudi Arabia is poised to become a hub of innovation, tourism, and sustainable growth.