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Saudi Arabia’s Vision 2030 is a transformative blueprint designed to diversify the kingdom’s economy and reduce its dependence on oil. At the heart of this vision are a series of monumental projects, known as giga projects, which aim to reshape the country’s landscape and create new economic opportunities. Saudi’s entertainment sector is rapidly growing.
Diriyah is considered to be the PIF’s fifth largest giga-project. Located on the edge of Riyadh, it joins the country’s existing giga-projects: Neom, Red Sea, Qiddiya and Roshn. Saudi Arabia plans to reach 100 million visits annually by 2030.
Since opening to tourism in 2019, the country has become one of the fastest-growing markets globally. In 2022, it recorded 93.5 million visits.
Since the launch of Vision 2030 in 2016, Saudi has awarded construction contracts with a total value of $250 billion, and has launched around $1.25 trillion worth of real estate and infrastructure projects, Knight Frank’s 2023 Saudi Giga Projects report found. Neom: A Vision for the Future Neom, unveiled in 2017, represents Saudi Arabia’s boldest project yet.
Valued at $500 billion, Neom will encompass an area 33 times larger than New York City and almost the size of Belgium. This futuristic city aims to include cognitive cities, ports, research centres, and entertainment hubs. With a projected one million visitors by 2025 and five million by 2030, Neom is set to become a global icon of innovation and sustainability.
Other notable elements of Neom include The Line, a zero-carbon city designed with vertically integrated living spaces, and Trojena, a mountain resort with a ski village and wellness centres. The Red Sea: A Sustainable Luxury Destination The Red Sea project, developed by Red Sea Global, focuses on creating a sustainable luxury tourism destination. Slated to welcome its first visitors in 2023, this initiative aims to establish 50 resorts along the Red Sea coast by 2030.
Emphasizing environmental protection, Red Sea Global has awarded over 1,300 contracts worth nearly $8.5 billion. Key features of The Red Sea include luxury resorts powered by renewable energy, a zero-carbon 5G network, and innovative technologies such as bottled water made from air and sunlight.
Amaala: A Wellness Oasis Amaala, another significant project announced by PIF, focuses on luxury and wellness. Expected to be completed by 2027, Amaala will feature over 3,000 hotel rooms and 900 residential properties. It will also include retail, dining, and wellness facilities.
The development aims to create more than 50,000 jobs and contribute over $2.9 billion to Saudi Arabia’s GDP. AlUla: The World’s Largest Living Museum AlUla is set to become the world’s largest living museum, with an investment of $5.
2 billion for its first phase. Located near Saudi Arabia’s first UNESCO World Heritage Site, Hegra, AlUla’s master plan includes five districts, heritage sites, and cultural assets. The development will also feature a luxury resort designed by Jean Nouvel, contemporary art museums, and a museum dedicated to the Incense Road.
Upon completion in 2035, AlUla is expected to host 130,000 residents and contribute $32 billion to the Saudi grodd domestic product. The project will create 38,000 jobs and aims to enhance the understanding of 200,000 years of heritage. — anam@khaleejtimes.
com.
