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

27 July 2023

 

> This package also includes: Saudi Arabia plans $1 trillion capital


Register for MEED's guest programme 

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

https://image.digitalinsightresearch.in/uploads/NewsArticle/11031005/main.gif
Yasir Iqbal
Related Articles
  • Riyadh Expo sets November bid deadline for Souq construction

    29 October 2026

     

    Expo 2030 Riyadh Company (ERC), responsible for delivering the Expo 2030 Riyadh venue, has allowed contractors until 11 November to submit bids for a contract to deliver the Souq areas within the Expo site.

    The tender was floated on 30 July, with an initial submission deadline of 9 October.

    The Souq areas are divided into five distinct precincts, with a total development area of about 300,000 square metres (sq m).

    The scope includes the five precincts and their associated vertical elements, infrastructure and public realm works. 

    The precincts comprise:

    • Precinct 1 – The Icon: 41,417 sq m
    • Precinct 2 – Place & Planet: 62,306 sq m 
    • Precinct 3 – Culture of Wisdom: 67,112 sq m  
    • Precinct 4 – Kingdom of Saudi Arabia: 45,967 sq m  
    • Precinct 5 – Adaptation & Innovation: 82,358 sq m

    The package will interface with three public parks. It will also tie into the Natural Corridor, including bridges.

    The Souq areas will form a mixed-use destination at the centre of Expo 2030 Riyadh, connecting the site’s iconic and thematic assets.

    The development will include rented and partnership pavilions, alongside a range of food and beverage, retail and visitor-experience offerings.

    Site progress

    Construction activity at the Expo site is accelerating, with Riyadh moving to award its first major vertical contracts and advancing infrastructure works across the programme.

    Earlier this month, Saudi Arabia’s Royal Commission for Riyadh City awarded a design-and-build contract to build a new metro station serving the Expo 2030 site.

    In April, ERC awarded two contracts to local firm Al-Yamama Company for the next phase of infrastructure works at the site.

    The scope covered 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 covered about 50 kilometres of integrated infrastructure networks, including internal roads and essential utilities such as water, sewage, electrical and communications systems, and electric vehicle charging stations.

    The masterplan covers 6 square kilometres, making it one of the largest sites ever 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 landmarks within Riyadh.

    The Public Investment Fund, Saudi Arabia’s sovereign wealth vehicle, launched ERC – a wholly owned subsidiary – in June 2025 to build and operate facilities for Expo 2030.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/20998514/main.jpg
    Yasir Iqbal
  • Iraq oilfield water scheme to hit milestone next year

    29 October 2026

     

    China Petroleum Pipeline Engineering (CPP) expects to start laying pipeline for Iraq’s Common Seawater Supply Project (CSSP) in Basra in mid- or late next year, according to industry sources.

    The project is behind schedule, partly because importing sections of pipeline is proving challenging due to disruptions to shipping through the Strait of Hormuz.

    The project is being managed by state-owned Basra Oil Company (BOC), with Australia’s ILF acting as a project management consultant after completing the front-end engineering design (feed).

    Under current plans, the pipelines will be buried, which is expected to make them more secure than if they were installed on the surface.

    Phased development

    The client for the first phase of the CSSP is France’s TotalEnergies in partnership with QatarEnergy and BOC.

    The first phase is split into two packages currently under execution and will ultimately have the capacity to transport 5 million barrels a day (b/d) of water.

    The first package focuses on developing pipelines, and the second on developing a water treatment facility.

    CPP is executing the pipeline package contract.

    It signed a $2.5bn contract with BOC for the package in September last year.

    Also in September 2025, South Korea’s Hyundai announced that it had signed a contract worth 4.39tn won ($3.16bn) for the processing plant package.

    In September this year, MEED reported that early groundworks had started for both packages of the first phase of the CSSP.

    Phase one of the project is scheduled to start up in late 2028 or early 2029.

    Earlier this month, US-headquartered Exxon Mobil signed a memorandum of understanding related to the project’s second phase, which is expected to add 2.5 million b/d of water capacity.

    The CSSP will inject processed water into several of Iraq’s biggest oil fields. These include Rumaila, Zubair, West Qurna 1, West Qurna 2 and Majnoon. Water from the project will also be used in the Maysan and Dhi Qar fields.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/20981033/main.jpg
    Wil Crisp
  • Dubai tenders Al-Awir sewerage and stormwater works

    29 October 2026

     

    Dubai Municipality has invited contractors to bid for a contract to build sewerage and stormwater infrastructure in New Al-Awir 1st.

    The project (DS317-C1) comprises about 95 kilometres of sewerage gravity network, excluding house connections, and about 105km of stormwater pipelines. The scope also includes house connection pipes, a stormwater pond and oil interceptors.

    According to tender documents seen by MEED, the tender was issued on 23 October, with a bid submission deadline of 12 November.

    The project comes amid wider residential and infrastructure development in Al-Awir 1. In January 2025, Dubai’s Roads & Transport Authority (RTA) announced plans to build 16.5km of internal roads in the area, including a new entrance from Emirates Road.

    In February 2025, MEED exclusively reported that the RTA had selected a local firm to undertake the road construction works.

    The Mohammed Bin Rashid Housing Establishment has also reported progress on housing projects in Al-Awir as part of a wider programme to develop residential communities across Dubai.

    The sewerage and stormwater project is relatively large compared with recent stormwater tenders, with the total cost estimated at up to AED1bn ($272m).

    The works will include approximately 69.2km of house connection pipes and 4,630 inspection chambers. The sewerage network will also include about 1,511 manholes, while the stormwater network will comprise approximately 1,247 manholes.

    Contractors will also be required to use no-dig construction methods for sections of the pipeline. The scope includes ground investigations, utility protection and traffic management.

    The bill of quantities specifies a stormwater pond with a composite volume of approximately 1.2 million cubic metres.

    Earlier this week, Dubai Municipality confirmed it had awarded contracts worth AED3bn ($817m) to expand the emirate’s stormwater drainage network by about 100 square kilometres under phase three of the Tasreef programme.

    The projects are part of Dubai’s AED30bn Tasreef programme and will cover Jumeirah, Umm Suqeim, Al-Quoz, Al-Barsha, Al-Wasl and Al-Marmoom. 

    The overall programme aims to increase the emirate’s stormwater drainage capacity by 700% and reduce costs associated with pumping stations, network operations and maintenance by 20%.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/20977734/main.jpg
    Mark Dowdall
  • Contractors bid for QatarEnergy’s North Field West topsides

    28 October 2026

     

    QatarEnergy has received technical bids from contractors for a key tender covering the engineering, procurement, construction and installation (EPCI) of large platforms for the North Field gas field in Qatari waters.

    Contractors submitted their technical bids by the 26 October deadline, according to sources.

    Commercial bids are currently due on 10 November.

    The following contractors, among others, are understood to be bidding for the North Field West (NFW) production deck modules (PDMs) tender:

    • China Offshore Oil Engineering Company (China)
    • Larsen & Toubro Energy Hydrocarbon (India)
    • McDermott (US)
    • Saipem (Italy)

    The core scope comprises the EPCI of four PDMs and associated structures. The modules will increase gas production from North Field reservoirs and supply additional gas feedstock to the NFW liquefied natural gas (LNG) development.

    Issued earlier this year, the tender forms part of the wider NFW project, the third and final phase of QatarEnergy’s North Field LNG expansion programme.

    The technical-bid deadline has been extended several times, from 30 August to 15 September, 28 September, 12 October and 19 October. Commercial bids were previously due on 25 October, as MEED reported.

    Before issuing the PDMs tender, QatarEnergy awarded US firm McDermott an EPCI contract for four offshore jackets to support gas feedstock supply for the NFW LNG project. The contract is estimated to be worth about $200m, MEED reported in January.

    North Field LNG expansion

    QatarEnergy is advancing the three phases of its estimated $40bn North Field LNG expansion project. EPC works on all three projects are progressing.

    QatarEnergy is understood to have committed nearly $30bn to the first two phases – North Field East (NFE) and North Field South (NFS) – which will lift Qatar’s LNG production capacity from 77.5 million tonnes a year (t/y) to 126 million t/y by 2028.

    QatarEnergy awarded the main EPC contracts for NFE in 2021. The project was intended to raise LNG output to 110 million t/y by 2025. The $13bn EPC package – covering the EPCI of four LNG trains, each with a capacity of 8 million t/y – was awarded in February 2021 to a consortium of Japan’s Chiyoda and France’s Technip Energies.

    In May 2023, QatarEnergy awarded the $10bn main EPC contract for NFS to a consortium of Technip Energies and Consolidated Contractors Company (CCC). The contract includes two LNG trains, each with a capacity of 7.8 million t/y.

    Once fully operational, the first two phases are expected to add 48 million t/y of LNG supply to the global market.

    QatarEnergy took the final investment decision on NFW earlier this year, awarding an EPC contract estimated at $8bn to a joint venture comprising Technip Energies, CCC and Gulf Asia Contracting in February.

    Chiyoda carried out the front-end engineering and design work for the NFW LNG project.

    The NFW scope covers the EPC of two LNG trains with a combined capacity of 16 million t/y, as well as associated facilities for gas treatment, natural gas liquids recovery and helium extraction.

    In addition to LNG, NFW is expected to produce about 175,000 barrels of oil equivalent a day of condensate, ethane and liquefied petroleum gas.

    With all three phases under EPC execution – and NFE scheduled for commissioning later this year – QatarEnergy is positioning itself to remain one of the world’s largest LNG suppliers in the long term.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/20973187/main.jpg
    Indrajit Sen
  • US military approaches contractors for Qatar air base project

    28 October 2026

     

    The US Army Corps of Engineers (USACE) has begun market engagement for an anticipated contract to design and build a Space Campus at Al-Udeid Air Base in Qatar.

    USACE’s Southwestern Division, Middle East District, has issued a sources-sought notice to identify contractors capable of delivering an integrated design-and-construction (IDaC) contract.

    The successful contractor will provide pre-construction services and build secure facilities that comply with Intelligence Community Directive 705 (ICD 705) standards.

    Interested firms must submit capability statements by 30 October.

    The construction market engagement follows USACE’s procurement of architect-engineer services for the development. The authority intends to award a single-award, task-order contract covering planning, design, site investigations and construction-phase support. The contract will have a five-year base period, with a two-year option, and a capacity of up to $100m.

    USACE expects to award the design contract in April 2028, alongside an IDaC construction contract following completion of the planning activities.

    The Space Campus is being developed to meet an operational requirement of the US Air Force and forms part of the Al-Udeid Air Base 2040 Strategic Master Plan.

    It will include a secure administrative headquarters, coalition operations centre, secure warehouse, conference centre, storage facilities, access-control and guardhouse complex, antenna yards, shelters and multiple unit buildings.

    The scope also includes secure perimeter fencing, intrusion-detection and closed-circuit television systems, roads, parking, site preparation, utility networks, substations, generators, chilled-water systems, fuelling facilities, and secure and unclassified communications networks.

    The project will require hardened and potentially underground structures. Contractors are expected to demonstrate expertise in managing saline groundwater, dewatering, underground waterproofing and Qatar’s geotechnical conditions.

    The latest procurement activity comes as Qatar’s Public Works Authority, Ashghal, tenders a contract for roads and associated infrastructure serving Al-Udeid Air Base.

    The project in Zone 95 of Al-Wakra Municipality includes a dual-lane carriageway, three roundabouts, electrical substations, drainage, lighting, intelligent transport systems and utility works.

    The road will link Al-Majd Road to the east with Street 203 in Zone 95 to the west.

    According to GlobalData’s Qatar Defence Market 2026-2031 report, Qatar allocated an estimated $17bn to defence in 2026, representing a compound annual growth rate (CAGR) of 2.5% between 2022 and 2026.

    The defence budget is projected to grow at a CAGR of 3.8% over the 2027-31 forecast period, reaching an estimated $20.8bn in 2031.

    Defence diplomacy is also a key factor in military procurement, with Doha strengthening bilateral ties through acquisitions from the US, France and Turkiye.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/20971169/main.jpg
    Yasir Iqbal