Saudi Arabia Vision 2030: Mega Real Estate Projects
Feb 14, 2025
“Saudi Arabia's Vision 2030 are shaping the future of real estate, tourism, business, and urban living”
The "Saudi Vision 2030" is a revolutionising plan that will diversify the economy of the nation and diminish its dependence on oil. Among this vision's central pillars stands the creation of mega real estate developments that remodel the urban way of life, tourism, and infrastructure in the Kingdom. These initiatives are aimed at establishing Saudi Arabia as a major global centre for tourism, business, and innovation.
Key Mega Real Estate Projects Under Vision 2030
An overview of key mega real estate projects under “Vision 2030” is given in the table:
| Project | Location | Cost | Expected Completion |
|---|---|---|---|
| NEOM including The Line and Trojena | Tabuk | $500 billion | 2030 |
| Qiddiya | South West Riyadh | $9.8 billion | 2030 |
| Red Sea Global | Tabuk | $23.6 billion | 2030 |
| Diriyah Gate | Diriyah | $63.2 billion | 2027 |
| Jeddah Tower | North side of Jeddah | $1.23 billion to $2.6 billion | 2030 |
1. Neom: The Futuristic City
Neom, envisioned as Saudi Arabia’s flagship giga-project, is expected to cost $500 billion. With a vision of becoming a smart, sustainable city, Neom includes:
Key Highlights
- The Line: A trailblazing city, designed without intruding on nature, running 170 km long, promoting sustainable living.
- Oxagon: The largest floating industrial complex in the world.
- Trojena: A futuristic nature-based mountain tourism destination, which will host the 2029 Asian Winter Games.
- Sindalah: A luxury island for premium tourism.
2. Diriyah Gate: The Cultural Capital
Diriyah Gate is a $63 billion development project that will convert the historical city of Diriyah into a world-class cultural and heritage destination. Highlights include:
- More than 30,000 new residential units.
- Luxury hotels, shops and entertainment spaces.
- Restoration of the UNESCO-listed At-Turaif District.
3. Red Sea Project: The Ultimate Tourism Experience
The Red Sea Project, the luxury destination for eco-tourism while sustainability is the driving force, includes:
- 50 untouched islands, coral reefs and desert scenery.
- Luxury resorts and wellness retreats.
- A pledge to 100% renewable energy.
4. Qiddiya: The Entertainment Hub
Qiddiya is a $10 billion mega-city being built to be Saudi Arabia’s entertainment capital, with major features including:
- A Six Flags theme park that would feature the world’s tallest roller coaster.
- Motorsport and esports venues.
- High-end sports facilities and adventure tourism.
5. Jeddah Tower: The World's Tallest Skyscraper
Aiming to be taller than Burj Khalifa, Jeddah Tower previously was called the Kingdom Tower. Key features include:
- Above 1,000 meters high.
- Commercial & luxury residential spaces.
- A cutting-edge observation deck.
Economic and Social Impact
These giant real estate developments are expected to power Saudi Arabia's economic development through:
- Increasing Tourism: Aiming at 100 million tourists every year by 2030.
- Providing Employment: Creating thousands of jobs.
- Facilitating Infrastructure: Enhancing transportation, utilities, and city connectivity.
In conclusion, these ambitious developments are remapping the cityscapes of Saudi Arabia, and Vision 2030 has an important part to play in this. Owing to their emphasis on sustainability, tourism and innovation, the developments are projected to turn Saudi Arabia into an investment, entertainment, and culture destination of worldwide recognition. Each has conceptualized an appealing tomorrow, and these will be huge in drawing out the lineaments of tomorrow not only of the Kingdom but the world at large.
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