2023-09-11-莱坊-Saudi_Arabia_Giga_Projects_2023_14页_1mb

Saudi Giga Projects Report Summary

Core Content

This report outlines Saudi Arabia's ambitious $1.25 trillion real estate and infrastructure development plan, launched as part of the National Transformation Program in 2016. The focus is on transforming the urban landscape to support population growth and tourism targets, with a special emphasis on Western Saudi Arabia, Riyadh, and other key provinces. The development plans include major projects like NEOM and Red Sea Global, as well as special economic zones and infrastructure initiatives that align with Vision 2030.

Key Statistics

• Total Real Estate Development Value: $1.25 trillion
• Total Value of Commissioned Projects: $250 billion
• Residential Units: 660,000+ units
• Hotel Keys: 289,000+ keys
• Retail Space: 5.3 million+ sqm
• Office Space: 6 million+ sqm

Population and Economic Context

• Total Population (2022): 32.2 million
• Saudi Population: 18.4 million
• Non-Saudi Population: 13.4 million
• GDP Per Capita: $34,500

Population Projections

• Expected to reach 50 million by 2030
• Projected 100 million international visitors by 2030

Western Saudi Arabia

• Total project value expected to reach $687 billion by 2030
• Includes the $500 billion NEOM super-city
• Other notable projects: NEOM sub-projects like The Line, Trojena, Oxagon, and Sindalah

Riyadh

• Accounts for 18% of all real estate and development projects
• Total project value: $229 billion
• Residential Units: 241,000+
• Hotel Keys: 20,000+
• Retail Space: 2.8 million sqm
• Office Space: 3.6 million sqm
• Government plans to invest $1 trillion in Riyadh alone to support the 2030 World Expo

Other Provinces

• Al Ula, Sudah, and Rijal Almaa: Highlighted as cultural and tourism destinations
• Amaala: A luxurious new destination with pristine beaches and world-class facilities
• Special Economic Zones (SEZs) are being established to reduce economic reliance on oil and gas

Special Economic Zones

• Cloud Computing SEZ: Located in Riyadh, focusing on technology and innovation
• Ras Al-Khair SEZ: Specializing in shipbuilding, rig platforms, and logistics
• Jazan SEZ: Includes food processing, metal conversion, and logistics
• King Abdullah Economic City: A major SEZ in Makkah with a focus on automotive, consumer goods, and logistics
• Special Integrated Logistics Zone: Located in Riyadh, catering to consumer products, pharmaceuticals, and aerospace

Healthcare and Education

• Healthcare Projects: $39.5 billion planned, with $27 billion allocated to Riyadh
• Educational Institutions: 60 new institutions planned at a cost of nearly $6.3 billion
• Riyadh Sports Boulevard: $500 million project
• Green Riyadh: Transforming the city into a verdant metropolis with 7.5 million trees
• Amanat Al Sharqiya in Dammam: Revitalizing the city's corniche with 650,000 sqm of retail space

Major Infrastructure Projects

• Total Infrastructure Investment: $204 billion
• Includes two new national airlines
• Riyadh Air: New carrier with 100+ destinations, debut in 2025
• NEOM Air: Dedicated airline for NEOM, with 10+ destinations, debut in 2024
• 72 aircraft on order for new airlines

Key Projects in Focus

• NEOM: A $500 billion super-city, larger than Belgium, expected to house over 9 million residents
• Red Sea Global: A luxury tourism destination with a focus on sustainability
• ROSHN: Creating sustainable, innovative, and affordable communities
• SEVEN: Developing world-class entertainment experiences across the Kingdom

Summary of Development Pipelines

Region	Project Value	Key Focus Areas
NEOM	$500 billion	Sustainability, urban living, tourism
Red Sea Global	$6.4 billion	Luxury resorts, cultural activities, adventure sports
Riyadh	$229 billion	Residential, office, retail, hotel, and infrastructure
Other Provinces	$687 billion	Tourism, logistics, and cultural projects
SEZs	$14–$35 billion	Logistics, technology, manufacturing, and services

Conclusion

The Saudi Giga Projects represent a massive and transformative investment in real estate and infrastructure, aimed at diversifying the economy, supporting population growth, and enhancing the country's global standing as a tourism and business hub. With a focus on sustainability, innovation, and modern urban development, these projects are set to redefine the Kingdom's future in the coming decade.