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
  • Algeria tenders 310km Tamanrasset railway

    16 October 2026

     

    Algeria’s state railway project developer, Agence Nationale d’Etudes et de Suivi de la Realisation des Investissements Ferroviaires (Anesrif), has invited national and international contractors to bid for the construction of a 310-kilometre (km) railway line between Hotel Station and Moulay Lahcen Station. 

    The planned line is a key segment of the proposed railway corridor connecting El-Menea, In-Salah and Tamanrasset across the southern wilayas of In-Salah and Tamanrasset.

    The tender notice was issued on 12 October, with bids due by 10 November.

    The tender is open to single contractors and consortiums. To qualify, single firms must have executed at least 200km of new railway lines or track-doubling works since 2010, with accepted project certificates covering sections of at least 100km, along with a cumulative 800 metres of railway bridges with individual spans exceeding 30 metres.

    Bidders must also provide at least two rail-tamping machines, two ballast regulators, and a project director with an engineering degree and at least five years of railway construction management experience.

    From a commercial and classification perspective, single bidders and consortium leaders must hold a category-nine (IX) professional qualification in public works.

    Bidders must also demonstrate an average annual turnover in construction of at least DZ260bn ($1.96bn) across the 2023-2025 financial period.

    For joint ventures, the cumulative turnover of all members must meet the $1.96bn threshold, with the consortium leader accounting for at least $1.3bn.

    Offers must be accompanied by a bid bond exceeding 1% of the total bid value for submissions exceeding $7.4m, with proposals remaining valid for 90 days beyond the submission date.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/20665591/main.jpg
    Yasir Iqbal
  • Joint venture wins $246m RCRC bridges contract

    16 October 2026

     

    A joint venture of local contractor Mofarreh Group and Turkey-based Gulsan Holding has won an estimated SR923m ($246m) contract from the Royal Commission for Riyadh City (RCRC) to construct a series of grade-separated steel flyovers across the capital.

    The contract, known as Package 2 (Groups 2 and 3), is part of RCRC’s urgent bridges programme under the wider project to build steel bridges at 10 junctions across Riyadh.

    The works have a 12-month execution timeline to fast-track traffic decongestion across major arterial corridors.

    The joint venture’s scope covers the engineering and construction of grade-separated steel bridge interchanges across seven key intersections:

    • IC04: Al-Khair Road and King Salman Bin Abdulaziz Road
    • IC05: Prince Turki Road and Imam Saud Road
    • IC06: Al-Takhassosi Road and Saeed Al-Sulami Road
    • IC07: Khurais Road and Al-Hareth Bin Abdullah Road
    • IC08: Khurais Road and Ash-Sharq Road
    • IC09: Khurais Road and Marmar Road
    • IC10: Al-Kharj Road and Al-Hilla Road

    The total length of the flyovers is 8.86 kilometres, excluding Junction IC10.

    In addition to the structural steel superstructures, concrete bridge foundations, decks and approach ramps, the contract includes retaining walls, utility diversions, temporary phased traffic arrangements, associated roadworks, drainage networks, roadway lighting, intelligent transportation systems and landscaping.

    The client received commercial proposals from several local and international contractors. Other bidders included:

    • Masco
    • Nesma & Partners
    • Al-Omaier Trading & Contracting Company 
    • Yuksel Saudia 
    • Batco 
    • Modern Building Leaders
    • Sapac

    The urgent bridges initiative is part of Riyadh’s rapid transport infrastructure programme to improve traffic throughput, enhance safety and ease vehicular congestion across central and ring-road corridors ahead of major events, including Expo 2030 and the 2034 Fifa World Cup.

    In July, Mofarreh Group and Turkiye’s Gulsan Holding formed a joint venture to bid for and deliver transport infrastructure projects in Riyadh for RCRC.

    The joint venture said it will target road, bridge, viaduct and interchange projects.

    Mofarreh will provide local market access and operational capacity, while Gulsan will contribute international experience in large-scale transport projects.

    The companies said the new venture will support knowledge transfer and localisation, and promote the use of international engineering and construction standards aligned with Saudi Arabia’s Vision 2030 infrastructure and sustainability goals.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/20663255/main.png
    Yasir Iqbal
  • Humain tenders 100MW Riyadh AI data centre

    16 October 2026

     

    Register for MEED’s 14-day trial access 

    Saudi artificial intelligence infrastructure developer Humain has issued a request for proposals for an engineering, procurement and construction (EPC) contract to deliver a 100MW artificial intelligence (AI) data centre facility in Riyadh’s Al-Saad area.

    The tender was issued on 17 September, with bids due by 8 November.

    The contract includes core-and-shell works; civil works; mechanical, electrical and plumbing installation; testing and commissioning; and site infrastructure across a 350,200-square-metre plot.

    The project also includes an optional expansion phase that could raise total site capacity to 200MW.

    The initial 100MW development is split into two equal 50MW phases, structured across two single-storey IT buildings housing four 25MW data halls.

    Phase one targets a ready-for-service date by October 2028, followed by phase two in January 2029.

    Under the optional phase three, an additional 100MW facility would be brought online by July 2029.

    The data centre will be designed to support high-density graphics processing unit clusters and AI-compute workloads, with rack densities of 240kW to 250kW.

    The facility will be built to Uptime Institute Tier III topology and LEED Silver standards as a baseline, targeting LEED Gold.

    The operational design targets an annualised power usage effectiveness below 1.35.

    Power will be delivered through four 33kV connections supplied by Saudi Electricity Company from two separate high-voltage/medium-voltage primary substations. The scope requires 15 transformers, 15 static 2,250kW IT uninterruptible power supply (UPS) units, and 450kW mechanical UPS systems with lithium-ion battery storage for each 25MW block. 

    Backup emergency diesel generators will be provided on an owner-furnished, contractor-installed basis, with the EPC contractor handling their installation, connection and testing. Fuel storage will provide 24 hours of autonomous run-time, split between on-site underground bulk tanks and generator belly tanks.

    Thermal management combines air and liquid cooling. High-density server racks will be equipped with direct-to-chip liquid cooling loops using coolant distribution units and technical water distribution, paired with air-cooled chillers operating in dual high- and low-temperature loops, alongside fan-wall units.

    The total construction timeline is capped at 25 months from site handover or contract signing, with pre-execution early mobilisation scheduled to start in January 2027.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/20661045/main.jpg
    Yasir Iqbal
  • Adnoc Onshore seeks bids for Bu Hasa field EOR project

    16 October 2026

     

    Register for MEED’s 14-day trial access 

    The onshore oil and gas business of Abu Dhabi National Oil Company (Adnoc Onshore) has sought bids from contractors for a key project to increase the oil production capacity of the Bu Hasa oil field, primarily through enhanced oil recovery (EOR) techniques.

    The main objective of the Bu Hasa-Shuaiba EOR Unit 1 (Phase 1) project is to achieve a targeted 70% increase in oil production, extend the Bu Hasa field development’s production plateau and maximise the field’s potential in an economical manner.

    The project aims to confirm and validate the optimum EOR technology for the top-ranked reservoirs/units; assess incremental recovery on top of the improved oil recovery (IOR) wedge; extend the field plateau for as long as is economically feasible; and achieve an ultimate recovery factor of 70% from the Shuaiba reservoir. It will evaluate and execute the recommended EOR option through pattern phasing for any technology proven by Adnoc.

    Adnoc Onshore is understood to have issued the tender for the project on 20 September, with an initial technical bid submission deadline of 8 October, according to sources. The client later extended the technical bid submission deadline to 17 October, sources told MEED.

    The chosen contractor will execute the project under a hybrid contracting strategy comprising:

    • A lump sum (turnkey) EPC scope covering the complete pipeline system from East Hub to the separation plant
    • A call-out-based scope for execution of all WAG injector and WSW tie-in works

    Unless otherwise specified, all activities defined under the contractor’s scope will be deemed included within the lump-sum contract price. This will cover engineering, procurement, construction, testing, pre-commissioning and support to commissioning for a complete and operable system.

    At the Bu Hasa field development, three remote degassing stations (RDS-1/2/3) and two satellite stations, Bida Al-Qemzan and Huwaila, are currently in operation. Production from oil wells completed in Shuaiba, Thamama B, Thamama F, Bida Al-Qemzan and Huwaila is routed via individual flowlines to the three remote degassing stations and the Bida Al-Qemzan and Huwaila stations across different parts of the field.

    Combined production from the wells at each of these stations is routed to the central degassing stations (CDS) via transfer lines ranging from 16 inches to 24 inches in diameter. In addition, some wells in the central part of the field are connected directly to the CDS.

    Previous studies have identified carbon dioxide (CO2) flooding as a promising tertiary recovery mechanism in the Shuaiba reservoir, delivering incremental recovery on top of the IOR wedge (P5 project), extending the field plateau as long as economically feasible, and achieving an ultimate recovery factor of 70% from the Bu Hasa Shuaiba units.

    Located 200 kilometres south of Abu Dhabi city, Bu Hasa is Adnoc Onshore’s westernmost producing field. It is one of Abu Dhabi's biggest onshore assets, with crude oil production capacity of 650,000 b/d. It is also one of the Adnoc Group’s oldest oil fields, having been discovered in 1962 and in production since May 1965.

    As part of the ongoing Bu Hasa Integrated Field Development Project (BUIFDP), 13 new well pads and two pad hubs have been added to the field. Oil, gas and water produced at these sites will be collected at a central gathering facility, then sent through production headers and transfer lines to the CDS for processing.

    Adnoc Onshore is the Adnoc Group’s largest oil-producing subsidiary, accounting for 2 million b/d of oil and about 7 billion cubic feet a day of associated gas production from four main onshore field developments in Abu Dhabi: Bab, Bu Hasa, North East Bab and South East.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/20639750/main0548.jpg
    Indrajit Sen
  • OTTCO issues tender for Oman oil storage park expansion

    16 October 2026

     

    Register for MEED’s 14-day trial access 

    Oman Tank Terminal Company (OTTCO) has issued the main tender for a major project related to the expansion of the Ras Markaz crude oil storage complex at Duqm, on the sultanate’s Arabian Sea coast.

    The project, titled Trade Bridge, involves the engineering, procurement and construction (EPC) of eight large storage tanks, each with a capacity of 650,000 barrels. This will increase the Ras Markaz terminal’s total storage capacity by 5.2 million barrels.

    The project represents the next expansion phase (phase 1.4) of the Ras Markaz oil storage terminal within the Special Economic Zone at Duqm (Sezad).

    State-owned OTTCO issued the prequalification notice for the project on 28 July, with contractors submitting initial responses by 4 August and final responses by 19 August, MEED previously reported.

    According to sources, OTTCO issued the main tender for EPC works on Project Trade Bridge in the weeks following completion of the prequalification exercise.

    The following contractors, among others, are understood to have been prequalified by OTTCO to bid for Project Trade Bridge:

    • China Petroleum Pipeline Engineering Company (China)
    • China Tianchen Engineering Corporation (China)
    • Daqing Oilfield Construction Group Company (China)
    • Enppi Muscat (local branch of Egypt-based Enppi)
    • Gulf Petrochemical Services & Trading (Oman)
    • Hualu Engineering & Technology Company (China)
    • Rotary Engineering (Singapore)
    • Sinopec Ningbo Engineering Company (China)

    OTTCO commissioned the first phase of the Ras Markaz crude oil storage park, covering 10 square kilometres and with a capacity of 26.7 million barrels, in December 2022.

    The storage facility has two parts. The first is a marine services area, which includes a floating station for crude imports and exports. This zone is about 7 kilometres offshore and is connected via two 42-inch pipelines and associated facilities.

    In water depths of up to 42 metres, the floating station can accommodate very large crude carriers. It is linked to four main pumps that transfer crude oil to the storage area, which is located more than 120 metres above sea level. OTTCO could add pumps at a later stage to keep pace with future demand for oil storage.

    The second part of the storage facility features oil pumping systems, water treatment facilities, reservoirs, power station networks and other associated systems.

    Region’s largest oil storage park

    OTTCO will build the Ras Markaz oil storage facility in five phases over several years across an area of about 40 square kilometres, for which it signed a land agreement with Sezad in July 2017.

    It will be able to hold 200 million barrels of crude a year. Total investment in the scheme is understood to be $5.2bn.

    The storage terminal in the first phase of the Ras Markaz facility is connected to the estimated $7bn Duqm refinery and other oil-derivatives production plants at Sezad via a pipeline that will supply crude feedstock to the refinery when required.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/20638090/main0749.jpg
    Indrajit Sen