Top 10 plans for Saudi Arabia’s $1 trillion capital
27 July 2023

> This package also includes: Saudi Arabia plans $1 trillion capital
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1. New Murabba
In early 2023, Saudi Arabia’s Crown Prince Mohammed bin Salman bin Abdulaziz al-Saud launched New Murabba Development Company (NMDC) to develop the world’s largest modern downtown in Riyadh.
Located to the northwest of the capital, the development will cover an area of 19 square kilometres. It will feature more than 104,000 residential units, 9,000 hotel rooms and over 980,000 square metres of retail space.
The centrepiece will be the Mukaab, a 400 cubic-metre structure that will be the world’s first immersive destination, featuring digital and virtual technology. The Mukaab will include a tower atop a spiral base.
The estimated project cost is more than $50bn and it is scheduled for completion by 2030.
Contractors win New Murabba early works deals

UK consultancy firm Atkins is working on the New Murabba project in Riyadh, which includes the 400-metre-cubed, Najdi-inspired Mukaab building. Another UK firm, Buro Happold, is working with Atkins on the project
2. Diriyah Gate
Announced in 2019, the Diriyah Gate project spans 7.1 million sq m to the northwest of Riyadh. The masterplan includes the three-phased development of several areas in Diriyah, including Wadi Safar, Wadi Hanifah Park, Bujairi District, Arts District, Samhan District and Diriyah Square.
Projects worth $12.6bn are in execution at Diriyah Gate, according to regional projects tracker MEED Projects, while $9.5bn-worth of schemes are in design and tendering stages.

Artist's rendition of Diriyah Gate’s King Salman Square, one of the meeting places planned for the 7.1 million square-metre development
3. King Salman Park
King Salman Park is being built on more than 16 sq km and will become the world’s largest urban park. The project was officially announced in 2019 and is split into three phases.
Saudi-based Modern Building Leaders is building the SR7.5bn ($2bn) Royal Art Complex. A joint venture of Freyssinet Saudi Arabia and the local Haif Company is carrying out the infrastructure works. Freyssinet is also delivering the main works package for the visitors’ centre at the park, and Saudi-based E A Juffali & Brothers is providing mechanical, electrical and plumbing services.
At King Salman Park, projects worth more than $5bn are in execution, while projects under design and tender are valued at about $2.7bn.
Contractors win $2.5bn of work at King Salman Park

Covering an area of 16.9 sq km, King Salman Park is located to the south of King Abdullah Road, to the north of Makkah al-Mukkarramah Road and to the west of the Eastern Ring Road. The east of the site has a military airbase with two runways
4. Sports Boulevard
Riyadh Sports Boulevard was unveiled in March 2019 by King Salman bin Abdulaziz al-Saud. The development will span 135km on Prince Mohammed bin Salman bin Abdulaziz Road.
The project will be split into eight zones and features the development of 50 sports facilities, arts and recreational facilities, and green and open spaces spanning 4.4 million sq m. As of March 2023, $3.1bn-worth of projects had been awarded.
In early 2023, the local Almabani secured a $2bn contract for the construction of five packages of the project.
Sports Boulevard Foundation invited firms to submit bids in early August for a contract to provide project management consultancy services for schemes that include several iconic buildings at Sports Boulevard.

Sports Boulevard runs across Riyadh from east to west. Once complete, it will be the world’s longest park at over 135km
5. Seven
Saudi Entertainment Ventures (Seven), a wholly owned subsidiary of the Public Investment Fund (PIF), began construction on the first of its two entertainment districts in Riyadh in January 2022. Named Exit 10, the project is being executed by Indian contractor Shapoorji Pallonji, which secured a deal worth more than $370m.
Exit 10 is at the most advanced stage of construction out of the 21 planned entertainment complexes in 14 cities across the kingdom.
A second entertainment district, Exit 15, is under construction in the Al-Nahdah area of Riyadh. The contractor on the scheme is Consolidated Contractors Company, and US-based Aecom is the consultant. The project is expected to be completed by the end of 2025.
6. Misk Nonprofit City
Mohammed bin Salman Nonprofit City (Misk) is a masterplanned development covering 3.4 sq km in Riyadh. It includes commercial, educational, cultural, exhibition, hospitality, residential and retail spaces located in different zones.
In November 2021, Crown Prince Mohammed bin Salman announced that the Misk Foundation development will be the world’s first non-profit city.
The consultants working on the project include Germany’s Albert Speer + Partner as masterplanner and architect, and UK-based Buro Happold as engineer. The project manager for the first phase of construction is UK-based Mace.
7. King Salman International airport
The development of King Salman International airport was announced in November 2022 by Crown Prince Mohammed bin Salman. The project is backed by PIF and will span an area of about 57 sq km.
The airport is expected to be one of the world’s largest, and will be powered by renewable energy.
It aims to accommodate 120 million passengers by 2030 and 185 million passengers by 2050, with the capacity to process 3.5 million tonnes of cargo.
The airport will have six parallel runways and will include the existing terminals at King Khalid International airport.

If completed on time in 2030, King Salman International airport will become the world’s largest airport in terms of passenger capacity
8. Roshn
Launched by PIF, Roshn is an initiative by the government to promote real estate sector activity in the kingdom and increase homeownership rates among Saudi citizens to 70 per cent by 2030.
Roshn is developing the Sedra community in northeast Riyadh, which is masterplanned to include 30,000 homes. Construction work is ongoing on packages from phases one and two.
Warefa is Roshn’s second community project. Located in the Al-Janadriyah district of Riyadh, it was announced in March 2023. The project will cover 1.4 million sq m and have more than 2,000 housing units.

Public Investment Fund-backed Roshn has integrated power-saving technologies and adopted water treatment and reuse across the communities it is developing in the kingdom
9. NHC Housing schemes
National Housing Company (NHC) is the investment arm of the Municipal, Rural Affairs & Housing Ministry in the residential and commercial real estate sectors. Its main suburban developments in Riyadh are Khuzam and Al-Fursan.
According to data from MEED Projects, packages worth over $784m are under execution in Khuzam.
In February, NHC announced the second phase, spanning more than 21 million sq m and including 30,000 homes.
NHC and Saudi Arabia’s Housing Ministry have also signed investment agreements totalling more than SR24bn ($6.4bn) to launch the Al-Fursan suburb in northeast Riyadh.
It is the largest scheme in terms of the area and the number of housing units that NHC is implementing in partnership with Saudi real estate developers. Delivery of the first batch of homes is set for 2026.
10. North Pole
PIF is planning a 2km megatall tower as part of an 18 sq km masterplanned development to the north of Riyadh.
The proposed tower will be more than double the height of the world’s tallest building, Dubai’s Burj Khalifa, which is 828 metres tall. The project could cost about $5bn to construct.
Several international architecture firms have been invited to participate in a design competition for the project. UK-headquartered EY conducted the feasibility study for the development.
Gigaproject seeks firms for Riyadh rail link
Qiddiya has sought consultants for its Q-Express rail link that will connect the entertainment city with King Salman airport

Main image credit: Riyadh Expo 2030
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Alexandria wastewater treatment plant
The Authority for Potable Water and Wastewater is planning to build a wastewater treatment plant in eastern Alexandria.
The $150m facility will have a water treatment capacity of 300,000 cm/d.
In June 2025, Egypt’s government approved a financing and grant agreement for the project, with financing from the French Development Agency amounting to €68m and a grant of €2m.
Expression of interest documents were previously submitted in September 2024.
The main contract for this plant had been expected to be released in June.
Wastewater upgrades
Separately, the Construction Authority for Potable Water & Wastewater retendered the phase four expansion of the Abu Rawash wastewater treatment plant in Giza Governorate in January.
The $157m scheme will be developed under a design, build, operate and maintain contract.
The plant will have a treatment capacity of 400,000 cm/d, rising to peak flows of 520,000 cm/d. The authority issued the initial main contract tender last August.
It is unconfirmed whether this has moved beyond the bidding stage.
Egypt currently produces between 1.5 million cm/d and 2 million cm/d of desalinated water. The country aims to increase capacity to between 8 million cm/d and 9 million cm/d by 2050.
In March, Egypt’s cabinet approved a $1.2m grant agreement with the European Investment Bank to support wastewater treatment upgrades in Alexandria and Damietta.
Part of the funding will support plans to expand the Hanovil wastewater treatment plant in Alexandria Governorate.
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The grant will also support expansion works at the Kafr El-Battikh wastewater treatment plant in Damietta Governorate.
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Momentum builds for Syrian projects25 May 2026

Support from the US, as well as the closure of the Strait of Hormuz, has increased expectations about the development of infrastructure projects in Syria.
On 22 May, the US published guides to investing in Syria, funded by the US Department of State, that pointed investors towards 590 planned projects in the country.
The permanent removal of US sanctions in December last year, combined with fallout from the closure and disruption to shipping through the Strait of Hormuz, has boosted interest in planned projects in the country.
Shipping through the Strait of Hormuz has been disrupted since the US and Israel attacked Iran on 28 February.
The route normally transports about 11 million barrels a day of oil and around 20% of the world’s liquefied natural gas, as well as a range of other key materials and consumer goods.
The disruption to shipping through the strait has left nations in the Middle East scrambling to find new routes for imports and exports – and Syria plays a role in many of these new plans.
This has bolstered the country’s plans to become a regional trade hub.
Energy corridors
Already, Iraq is moving a large volume of oil by truck across the country to export it from Syria’s Mediterranean ports, such as Latakia or Tartous.
In April, Iraq’s state-owned oil marketing company, Somo, said it had awarded contracts to supply about 650,000 metric tonnes of fuel oil per month for overland trucking across Syria.
On top of this, Iraq is currently looking into reestablishing a pipeline route that transported oil from Kirkuk to the port of Baniyas in Syria.
The pipeline originally went into operation in April 1952.
During the 2003 invasion of Iraq, the pipeline was damaged by US air strikes and has remained out of operation since then.
There have been repeated attempts to either refurbish the existing pipeline or build a new one along the same route, but none has been successful.
In December 2007, Syria and Iraq agreed to rehabilitate the pipeline. The pipeline was to be reconstructed by Stroytransgaz, a subsidiary of Russia’s Gazprom.
However, Stroytransgaz failed to start the rehabilitation, and the contract was nullified in April 2009.
The disruption to shipping through the Strait of Hormuz has added a new urgency to the project to reestablish pipeline flows from Iraq to Baniyas.
Syria could also play a role in plans for a pipeline to transport gas from Qatar to Europe via Syria and Turkiye.
The country could additionally form part of plans to rehabilitate and expand the Arab Gas Pipeline.
The pipeline connects Egypt, Jordan, Syria and Lebanon, although the Lebanese section is not currently operational.
Trade routes
Beyond oil and gas, Syria is emerging as a key part of other plans for new trade routes.
Earlier this month, Syria’s Transport Minister Yarub Badr said the country was seeking to restore its role as a regional transit corridor linking Europe and the Gulf by reviving cross-border trucking and rehabilitating railway connections with neighbouring countries.
He said the overland corridor between the Turkish and Jordanian borders handled between 100,000 and 115,000 trucks annually in both directions before 2011. Freight rail services also operated between Tartous port and Iraq’s Umm Qasr port via Baghdad in 2009, he added.
He said Syria was coordinating with Turkiye, Jordan and Saudi Arabia to simplify customs and border-crossing procedures and facilitate freight movement.
Railway rehabilitation is expected to take longer due to extensive infrastructure damage and the suspension of cross-border rail links over the past decade.
Badr said Syria is working with the World Bank to secure grants ranging between $65m and $200m to support railway rehabilitation and restore Syria’s role as a regional transit route linking Turkiye, Syria, Jordan and Iraq.
Earlier this month, Syria’s state-owned railway company, the General Establishment for Syrian Railways, and the operator of Syria’s Latakia International Container Terminal signed a memorandum of understanding to coordinate container traffic between the Mediterranean port of Latakia and inland freight hubs.
The framework covers feasibility studies for moving containers by rail from Latakia to dry ports in Adra, Hasiya and Aleppo.
The feasibility studies are expected to take four months to complete.
Tartous port
Also this month, executives from the UAE’s DP World and Syria’s General Authority for Borders and Customs (GABC) met to discuss accelerating the development of Syria’s Port of Tartous.
Essa Kazim, chairman of DP World, met with Qutaiba Ahmed Badawi, chairman of GABC, to discuss opportunities to enhance infrastructure and logistics efficiency, ensuring the Port of Tartous is well-equipped to handle the anticipated rise in trade and cargo volume.
DP World’s plans to develop the Port of Tartous form part of a 30-year concession agreement signed in July 2025 with the Syrian government.
Under the agreement, DP World committed to invest $800m to upgrade infrastructure, expand capacity, and introduce modern cargo-handling and advanced digital systems.
DP World has said that, by fast-tracking the development of the Port of Tartous, it aims to boost its operational efficiency and capacity to handle diverse cargo types, including general cargo, containers, breakbulk and roll-on/roll-off traffic.
Rizwan Soomar, DP World’s chief executive and managing director for Central Asia, the Levant and Egypt, said: “The Port of Tartous development marks a defining moment in Syria’s journey of economic recovery and modernisation of its trade infrastructure. We are proud to contribute to this vital phase of growth.”
Located on Syria’s Mediterranean coast, the Port of Tartus is the country’s second-largest port and a key maritime gateway to trade routes across Europe, the Levant and North Africa.
Beyond the port itself, DP World is exploring other opportunities to develop infrastructure in Syria with local stakeholders. These include logistics zones, inland freight hubs and transit corridors.
US interest
US-based companies are also showing significant interest in participating in new projects in the country.
On 19 May, a delegation from the Houston-headquartered engineering company KBR travelled to Damascus to discuss road networks and infrastructure projects in Syria.
During one meeting, Syria’s transport minister outlined strategic projects currently underway, including north-south and east-west corridor projects, the Damascus-Aleppo highway and railway initiatives.
Badr said that companies were needed to update economic and technical studies for some projects.
While Syria and the US both have bold ambitions to expand Syria into a regional trade and logistics hub, the poor state of the country’s infrastructure is likely to be a key challenge.
It is likely that billions of dollars will need to be invested to rehabilitate the country so that its capacity to transport goods returns to levels seen prior to the civil war that began in March 2011.
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Alec confirms Sphere Abu Dhabi contract award25 May 2026
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Consultant wins Jeddah metro design22 May 2026

French engineering firm Egis has been appointed to undertake the preliminary design consultancy for the Jeddah Metro Blue Line project.
The project client, Jeddah Development Authority, issued the tender in early January, when MEED exclusively reported that Saudi Arabia had restarted plans to build the Jeddah Metro.
Engineering consulting firms submitted bids in April, as MEED reported.
The Blue Line will run from King Abdulaziz International airport and connect to the Haramain high-speed railway station.
The line will be 35 kilometres (km) long and will include 15 stations.
Project history
Plans for the Jeddah Metro were first publicly floated in the early 2010s and were formally packaged into a wider Jeddah public transport programme around 2013-14.
In 2014, French engineering firm Systra was appointed to complete preliminary engineering for the Jeddah Metro, as MEED reported at the time.
In the same year, US-based engineering firm Aecom was awarded a SR276m ($74m) contract to provide pre-programme management consultancy services.
Under its 18-month contract, Aecom was expected to provide staff to support preliminary planning and design work for various phases of the metro project.
This was followed by the appointment of UK-based architectural firm Foster + Partners in 2015 to design the metro stations.
The project then stalled as government spending priorities were reset and major capital programmes were reviewed following the fall in oil prices in 2015, with the metro’s scope, cost and delivery model coming under reassessment.
Early concept designs envisaged a multi-line network integrated with buses and, later, other city-wide mobility upgrades.
Route details
According to Jeddah Transport Company’s website, the scheme comprises 81 stations and 197 trains serving more than 161km. The network will have four lines:
- Orange Line: a 44.8km line running along Al-Madinah Road and Old Makkah Road, with 29 stops including one at Obhur Bridge
- Blue Line: a 35km line running from King Abdulaziz International airport to the Haramain high-speed railway station, with 15 stations
- Green Line: a 17km line running through the city centre, from the downtown area to the Haramain railway station, with nine stops
- Red Line: A 59.7km line running from King Abdullah Stadium north to Old Makkah Street through King Abdulaziz Road and King Abdullah Road, with 25 stops
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Expo Riyadh tenders Saudi Arabia pavilion22 May 2026

Expo 2030 Riyadh Company (ERC), tasked with delivering the Expo 2030 Riyadh venue, has tendered a contract to build the Saudi Arabia pavilion at the site.
The tender was issued on 19 May, with a bid submission deadline of 26 August.
The pavilion is a major asset located within the KSA District on the eastern side of the Expo 2030 Riyadh masterplan, within the Loop of Nations district.
The tendering of the pavilion structure follows swift progress on the site’s infrastructure development works.
In April, ERC awarded two contracts for the next phase of infrastructure works at the site to local firm Al-Yamama Company.
The scope covers the construction of road networks and infrastructure for water, sewage, electricity, telecommunications and electric vehicle charging.
These awards followed ERC’s January award of an estimated SR1bn ($267m) contract for initial infrastructure works at the site to local firm Nesma & Partners. That scope covers about 50 kilometres of integrated infrastructure networks, including internal roads and essential utilities such as water, sewage, electrical and communication systems, and electric vehicle charging stations.
The overall infrastructure works – covering the construction of main utilities and civil works at Expo 2030 Riyadh – are split into three packages:
- Lot 1 covers the main utilities corridor
- Lot 2 includes the northern cluster of the nature corridor
- Lot 3 comprises the southern cluster of the nature corridor
The masterplan encompasses an area of 6 square kilometres, making it one of the largest sites designated for a World Expo event. Situated to the north of the Saudi capital, the site will be located near the future King Salman International airport, and will provide direct access to various landmarks within Riyadh.
The Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, launched ERC – a wholly owned subsidiary – in June last year to build and operate facilities for Expo 2030.
MEED’s April 2026 report on Saudi Arabia includes:
> COMMENT: Risk accelerates Saudi spending shift
> GVT &: ECONOMY: Riyadh navigates a changed landscape
> BANKING: Testing times for Saudi banks
> UPSTREAM: Offshore oil and gas projects to dominate Aramco capex in 2026
> DOWNSTREAM: Saudi downstream projects market enters lean period
> POWER: Wind power gathers pace in Saudi Arabia
> WATER: Sharakat plan signals next phase of Saudi water expansion
> CONSTRUCTION: Saudi construction enters a period of strategic readjustment
> TRANSPORT: Rail expansion powers Saudi Arabia’s infrastructure pushTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/16949696/main.jpg

