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The Saudi Arabia Projects
Ecosystem
Ed James
Head of Content and Research
MEED GlobalData Plc

February 20, 2024

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 Saudi Giga Projects 2024 & Beyond
Report
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Saudi Giga Projects 2024 & Beyond Report includes:

• Detailed information on each of the giga-projects

• Top contractors and values
• Details the main projects being planned, under development and those due to be awarded in
2024/25 and beyond
• Project packaging and phasing
• Projects opportunities with client and procurement details
• Investment drivers and client spending plans
• Understand risks and set strategy
• Identifies the biggest spending clients Scan or click
• Key stakeholders and decision makers the code for
• Future contracts and packages more information
• Visualisation of each gigaproject
• Details of supplier and contractor registration
• Key challenges
Download sample pages to find out more
2023 Performance
 Historical Market Performance
After reaching a peak in 2014 when the oil price had been over $100 a barrel for a concerted period, spending on projects declined,
hitting a low of just $72bn in 2020. Following a recovery in 2021, 2022 was a very disappointing year especially with so much talk
on the Saudi giga projects program
Value of GCC contracts awarded 2013-22 ($m)
2,00,000

1,80,000 173415 171386

1,60,000
146432
1,40,000
120018 121514
1,20,000 116499
105849 106715 109761

1,00,000

80,000 72104

60,000

40,000

20,000

0
NEOM.com
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
7
Source: MEED Projects
 2023 Performance
HOWEVER…. last year’s projects market blew everything out of the water, with the highest annual value of project contracts ever
awarded and far in excess of the previous 2014 record and almost double the previous year.
Value of GCC contracts awarded 2013-23 ($m)
2,50,000

2,09,356
2,00,000
1,73,415 1,71,386

1,46,432
1,50,000

1,20,018 1,16,499 1,21,514

1,05,849 1,06,715 1,09,761
1,00,000
72,104

50,000

0
NEOM.com
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
8
Source: MEED Projects
 2023 Performance
This record-breaking performance has been driven by the UAE and Saudi Arabia which themselves also posted record highs. While
Saudi has taken centerstage, the UAE has arguably been more impressive by jumping nearly 3 times from the 2022 number

Value of GCC contracts awarded by country, 2017-23 ($m)

1,00,000
95,351
90,000

80,000 81,043

70,000 59,978
55,909
60,000
48,326 49,823
50,000
47,243
40,000
25,159
30,000 29,724
30,944
32,761
20,000 25,738
20,069 27,603
10,000

0
2017 2018 2019 2020 2021 2022 2023
Bahrain Kuwait Oman Qatar Saudi Arabia UAE NEOM.com
9
Source: MEED Projects
 2023 KSA Performance
Most sectors saw an increase in awards last year, especially power, gas, power and water on the back of the renewable energy
program, the Amiral petrochemical complex, the Jafourah unconventional resources development and the IWP and IWTP programs

Value of Saudi Arabia contracts awarded by sector, 2017-23 ($m)

30,000

25,000

20,000

15,000

10,000

5,000

0
Chemical Construction Gas Industrial Oil Power Transport Water NEOM.com
10
2017 2018 2019 2020 2021 2022 2023
Source: MEED Projects
 Top KSA Awarded 2023 Projects
Oil, gas, power and Water Construction & Infrastructure
Project Value ($m) Project Value ($m)
Saudi Aramco - COUR: Jafurah: Gas Treatment Facility: Phase 2: Package 1 2,900 KSPF - King Salman Park: Landscape Works Within Loop (Package 6.0) 2,000
SATORP - Amiral Complex: Mixed Feed Cracker: Package 1 2,900 Mawani - Upgrade of Container Terminals at King Abdulaziz Port in Dammam 1,860
Saudi Aramco - COUR: Jafurah: Utilities & Off-Site Facilities: Phase 2: Pkg 2 2,400 NEOM - NEOM City: Oxagon: NICC: Connector South 1,536
Nawwar Renew/SPPC - 2000MW Ar-Rass 2 Solar PV Power Plant 2,400 NEOM - NEOM City: Trojena: Time Travel Tunnels, Mirage Freight Depot & Vault Excavation 1,226
Saudi Aramco - Riyas NGL Fractionation Plant: Package 2 (Utilities, Storage & NEOM - NEOM City: The Line: Module 46 Piling Works Package 744
Export facilities) 2,200 SARED - King Abdulaziz International Airport: Aircraft Maintenance Hangars 700
SPPC - 3.6GW GFPP: 1,800 MW Taiba IPP 2 2,160 QIC - The Qiddiya Project: Resort Core: Roads, Bridges and Utilities (Pkg3&7) 611
SPPC - 3.6GW GFPP: 1,800 MW Taiba IPP 1 2,160 RCU - Al Ula Tourism Development: Infrastructure: Tramway: Rolling Stock 547
SPPC - 3.6GW GFPP: 1,800 MW Qassim IPP 2 2,160 Diriyah Company - Diriyah Gate: Phase 2: Infrastructure Package 1 533
SPPC - 3.6GW GFPP: 1,800 MW Qassim IPP 1 2,160 GACA - King Khalid International Airport Expansion: Upgrading of Terminal 1 & 2 480
SATORP - Amiral Complex: Utility Flare and Interconnection: Package 4 2,100 SBF - RSB: King Abdul-Aziz Underpass Package 8 & Abu Bakr Underpass Package 9 373
SWPC - Ar Rayis I IWP: Rayis to Rabigh IWTP 2,079
KSPF - King Salman Park: Landscape Works Phase 1 (Package 06.10) 330
Red Sea - Amaala: Utilities Package 2,000
KSPF - KSP: Infrastructure, Earthworks, Retaining Walls & Soils Works (CP 6.07) 266
Isha Renew/SPPC - 1425MW Al Kahfah Solar PV Power Plant 1,710
QIC - Qiddiya Coast North of Jeddah: Early Works Package 266
SPPC - Renewable Energy Round IV: Al Henakiyah 1.1 GW Solar PV 1,200
Murooj Company - Murooj Jeddah (Wadi Al Asla): Infrastructure 253
SPPC/SEC - Expansion of 1200MW Rabigh Combined Cycle Power Plant 1,200
QIC - The Qiddiya Project: Resort Core: Roads, Bridges and Utilities (Pkg4) 200
SATORP - Amiral Complex: Derivatives Unit: Package 2 1,200
Diriyah Company - Diriyah Gate: Excavation Works for Metro Stations 192
Saudi Aramco - Riyas NGL Fractionation Plant- Package 1 (NGL Fractionation
Trains) 1,000 NHC - Dahiyat Al-Fursan: Phase 2: Infrastructure Works 178
Saudi Aramco - COUR: Jafurah: Gas Compression Plant: Phase 2: Pkg 3 1,000 NEOM - NEOM City: The Line: The Spine: Railway Network: Type A Works: Section A3 160
SATORP - Amiral Complex: High-Density Polyethylene and Logistic Area: KAFD - King Abdullah Financial District: Zone 3: Package P3.01: Super Car Park 152
Package 3 720 Diriyah Company - Diriyah Gate: Northern Cultural District P3 Car Park 145
Saudi Aramco - Al Jafurah Desalination and Water Distribution Plant (IWP) 693 Mawani - South Container Terminal Expansion: Phase 3 144
SWPC - Rabigh 4: IWP 677 NEOM - NEOM City: Highway 55 Widening South Lot 1-C4-FW2 (WO 63) 140
Saad Two Renew/SPPC - 1255 MW Saad 2 Solar PV Power Plant 643 Madinah Municipality - Completion of Prince Nayef bin Abdulaziz Road in Madinah 131
Saudi Aramco - Zuluf to Safaniya Pipeline (CRPO 128) 600 RCJY - Ras Al Khair Industrial City: East of Ras Al-Khair Industrial City Site Preparation Works 95
NWC - Rehabilitation of Four Wastewater Treatment Plants in Heet and Al Haer 581 RCRC - Green Riyadh: Irqah Neighborhood Landscaping Works 93
SEC/Enowa/MoE - 3GW Oxagon-Yanbu Connector HVDC Transmission System 540 GACA - King Fahd International Airport: West Runway Development 84
National Indl Co/ Sahara Intl Petrochemical/ SEPC - Ethylene Cracker Plant NEOM - NEOM City: Oxagon: Southern Cluster: Rerouting Earthworks Highway 55 84
Expansion 500 SATORP - Amiral Complex: Site Preparation Works (Package 7) 80
Saudi Aramco - MFD: Phase 3: Gas Lift Facilities :PDM and Pipeline (CRPO 124) 450 MoT, Saudi Arabia - Completion of Makkah to Jeddah Direct Road 74
Source: MEED Projects
 Largest KSA 2023 clients and contractors
Aramco dominates top list of contracts awarded. List of largest contractors has healthy local presence
Top KSA Contractors by value of work awarded, 2023 ($m) Top KSA Clients by value of work under execution ($m)

0 2,000 4,000 6,000 8,000 10,000 12,000 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000

Larsen & Toubro Saudi Aramco

Hyundai E&C Saudi Power Procurement Co
SEPCO III NEOM
Nesma & Partners New Murabba Development Co
China Harbour Engineering Company SATORP
Sinopec Red Sea Global
Alkhorayef Group Qiddiya Investment Company
Almabani Saudi Electricity Company
Maire Tecnimont National Housing Company
Tecnicas Reunidas Saudi Water Partnership Company
China Energy Engineering Corp Sports Boulevard Foundation
Guangdong Construction ROSHN
Zhejiang Thermal Power Company King Salman Park Foundation
El Seif Engineering Contracting Saudi Ports Authority (Mawani)
Shibh Al Jazira Contracting Diriyah Company
Al Ayuni Investment & Contracting NWC
National Petroleum Construction… Royal Commission for Al-Ula
Saudi Binladin Group Saudi Entertainment Ventures
Elsewedy Madinah Knowledge Economic City
Al-Rashid Trading & Contracting Nawwar Renewable Energy Co
Source: MEED Projects
 KSA Activity by Region
All regions have seen a rise in projects as the government invests across the Kingdom. This is demonstrated by the sharp growth in
spending the Tabuk Region, the home of NEOM, as well as Al Madina Province, the location of the Red Sea and Al Ula developments
Top GCC Construction Contractors by value of work under execution ($m)

Saudi Arabia Contract Awards by Region, 2016-23 ($m)

25,000
Riyadh Province

20,000 Eastern Province

Tabuk Province

15,000

10,000
Mecca Province

5,000

Medina Province

0
2016 2017 2018 2019 2020 2021 2022 2023
Others Medina Province Eastern Province Mecca Province Riyadh Province Tabuk Province
Source: MEED Projects
2024 and Beyond
 Economic Summary
Real GDP growth is projected at 2.7% in 2024. Total revenue for FY 2023 is expected to reach SAR 1,275 bn, a 5.6% increase from
actual spending in 2022. This increase is reflective of the Kingdom’s willingness to support promising sectors, social spending and
diversification of the economic base.
Estimate Projections
Saudi Arabia key economic figures
2020 2021 2022 2023 2024
Real GDP growth (% change) -4.3 3.9 8.7 -1.1 2.7
Nominal GDP (SRbn) 196 232 295 285 295
Inflation, average consumer prices (%) 3.4 3.1 2.5 2.5 2.2
Current account balance (% of GDP) -3.1 5.1 13.6 5.9 5.4
Fiscal balance (% of GDP) -10.7 -2.3 2.5 -0.3 0.3
Government debt (% of GDP) 31.0 28.8 23.8 24.1 22.4
Actual 2022 Estimates 2023 Budget 2024 % change
2024 Budget Expenditure Allocation (budget 2024-estimates
(SRbn) (SRbn) (SRbn) 2023)
Public Administration 41 45 43 -4.8
Military 228 248 269 8.7
Security and Administration 115 110 112 2.1
Municipal Services 75 87 81 -6.9
Education 202 202 195 -3.3
Health and Social Development 227 250 214 -14.5
Economic Resources 77 80 84 4.1
Infrastructure and Transportation 41 37 38 2.0
General Items 159 216 216 -0.4 NEOM.com

Total 1,164 1,275 1,251 -1.9

Source: IMF, Ministry of Finance
 Economic Summary
Total revenue for FY 2023 is expected to reach SAR 1,193 billion, a 5.6% increase from the approved Budget, driven by growth in
non-oil revenues, tax management and collection procedures. FY 2024 revenue is projected at SAR 1,172 billion, increasing to SAR
1,259 billion by FY 2026. These estimates are conservative due to potential domestic and global economic impacts on oil and non-
oil revenues.

2022 Budget Estimates Budget 2025 2026

Medium Term Fiscal Projections
Actual 2023 2023 2024 Projection Projection
Government Revenues (SRbn) 1,268 1,130 1,193 1,172 1,227 1,259
Government Expenditure (SRbn) 1,164 1,114 1,275 1,251 1,300 1,368
Budget Surplus\Deficit (SRbn) 104 16 -82 -79 -73 -109
As percent of GDP 2.5% 0.4% -2.0% -1.9% -1.6% -2.3%
Public Debt (SRbn) 990 951 1,024 1,103 1,176 1,285
As percent of GDP 23.8% 24.6% 24.8% 25.9% 26.2% 26.9%

Source: Ministry of Finance

 Key 2024 Budget Spending Objectives

• Launching a road project for Jeddah Islamic Port with a length of 17 km, 4 main truck routes, and 6 service roads for
King Faisal Road from the port to the logistics area in Al-Khomra, as well as the construction of 15 bridges to lift and
accommodate truck traffic.

• Provide 50,000 housing units in partnership with real estate developers to increase the ownership rate for Saudi
families based on the executive plan of the Housing Program in its second phase.

• Build a number of hospitals in several regions of the Kingdom with a total capacity of 1,100 beds.

• Construct 28 new water reservoirs, and 33 dams with storage capacity of 507 million cubic metres

• Attract industrial investments by allocating industrial lands in the cities of the Royal Commission for Jubail & Yanbu
with an investment value of approximately SAR 29.6 billion

• Establishing the first nuclear station in the Kingdom after satisfying nuclear safety requirements within the National
Atomic Energy Project, with the aim of finding diverse sources of energy production.

• Developing renewable energy projects with a capacity of up to 20 gigawatts using solar and wind energy technologies

Source: MoF
 Top Saudi Arabia contracts awarded 2024 YTD ($m)
As of mid-February, just under $13bn worth of contracts have been awarded in Saudi Arabia which puts it roughly on track on
equaling its 2023 performance

Project Sector Contract Value ($m)

NEOM - NEOM City: Trojena: Trojena Valley Cluster: Dams Water 4,700
JCDC - Jeddah Central Project: Phase 1: Stadium Construction 1,700
JCDC - Jeddah Central Project: Phase 1: Opera House Construction 500
QIC - The Qiddiya Project: Resort Core: Speed Park(Formula 1): Track Works Construction 480
Misk - Prince Mohammed Bin Salman Nonprofit City: Ilmi Science & Technology Museum Construction 478
JCDC - Jeddah Central Project: Phase 1: Oceanarium & Coral Farm Construction 470
SATORP - Cogeneration Independent Steam and Power Plant (ISPP) Power 400
NWC - Sewage Networks and Pumping Stations in Al-Khobar Governorate Phase 1 Part- 2 Water 340
EPCCo - Clinker Production Line in Najibiyah area Industrial 270
Saudi Aramco - Abqaiq Plant Revamp Project Oil 240
SWCC - Upgrade of Hali Dam and Shoaiba Water Transmission System Water 238
Seven - Mecca Entertainment Complex Construction 200
NWC - Expansion of Al-Khobar Treatment Plant Water 197
Diriyah Company - Diriyah Gate: Phase I: The Ritz-Carlton Residences Construction 186
SWCC - Expansion of Ras Al-Khair production system: Seawater Desalination Plant Water 183
SWPC - Al Haer 2 ISTP Water 180
MoMRAH, Saudi Arabia - Expansion MOMRA Headquarters in Riyadh Construction 167
Al Qeshan - Kempinski Al Qeshan Hotel in Riyadh Construction 133
Red Sea - Amaala: The Triple Bay: Marina Village: Ritz Carlton Hotel: Phase 2 Construction 120
Saudi Aramco - Ras Tanura Terminal Upgrade Project Oil 102
Saudi Aramco - Ras Tanura Independent Wastewater Treatment Plant Water 96
Presidency of State Security - Security Building at Naif Security Complex Fit-Out Works Construction 93
SEC - 115Kv Substation and OHTL between Qaisumah and Qaryat 2 Power 83
NEOM - Red Sea Submarine Power Cable Power 80
SEC - Farasan Island 132/33/13.8KV Substation in Jizan Power 80

Source: MEED Projects

 2024 Outlook
As of mid February, there are some $194bn worth of contracts tendered or under bid evaluation in the GCC, compared with
$110bn
Top this time Contractors
GCC Construction last year, of
by which
value ofKSA
workhas the
under majority.
execution ($m)Most of these would be expected to be awarded during the course of the
year which would indicate 2024 is likely to match last year’s numbers
Value of GCC contracts in tender or bid evaluation by country ($m) Value of Saudi contracts in tender or bid evaluation by sector ($m)

Chemical,
Bahrain, 2950, 3%
4,425, 2%
Oman, 9,020,
Water, 13038,
5%
12%
Construction,
Kuwait, 10,993,
18942, 18%
6% Saudi Arabia,
1,07,908,
55% Transport,
Qatar, 20006, 18%
12,845, 7% Gas, 12800,
12%

UAE, 49,547, Oil, 7520, Industrial,

25% 7% 2489, 2%
Power, 30163,
28% NEOM.com

Source: MEED Projects

 Top Saudi Arabia 2024 Planned Contracts
There are a range of contracts across different sectors expected to be awarded over the year ahead based on projects under tender
Top GCC Construction Contractors by value of work under execution ($m)
Top Selected Saudi Arabia contracts scheduled to be awarded in 2024
Project Country Estimated Value ($m)
ENOWA - 1.2GW Gayal Wind Farm Power 2,400
JEC - Jeddah Economic City: Jeddah Tower Construction 2,240
SPPC - 3.6GW GFPP: 1,800 MW Al-Nairiyah IPP 2 Power 2,000
SPPC - 3.6GW GFPP: 1,800 MW Al-Nairiyah IPP 1 Power 2,000
SPPC - 3.6GW GFPP: 1,800 MW Remah IPP 2 Power 2,000
SPPC - 3.6GW GFPP: 1,800 MW Remah IPP 1 Power 2,000
MoD, Saudi Arabia - King Saud Air Base Transport 2,664
Saudi Aramco - Tail Gas Treatment Desulphurization Project Gas 2,000
RCRC - Riyadh Metro: Extension of Line 2 Transport 2,000
Maaden/Mosaic/SABIC - Waad Al Shamal Phosphate City: DAP Package 1 Chemical 1,500
NEOM - NEOM City: Backbone Infrastructure: Signalling and Rolling Stock Transport 2,000
WTTCO - Alshuqaiq to Jizan Water Transmission System: Phase 4 Water 1,178
SPPC - Renewable Energy Program Round IV: 700MW Yanbu wind IPP Power 1,000
Kingdom Tyres - Rubber Tires Factory in Riyadh Industrial 1,000
Maaden/Mosaic/SABIC - Waad Al Shamal Phosphate City: DAP Package 2 Chemical 1,000
SPPC - Renewable Energy Program Round IV: 600MW Al-Ghat Wind IPP Power 860
JCDC - Jeddah Central Project: Phase 2 Construction 850
QIC - The Qiddiya Project: Resort Core East Village South (EVS) Construction 813
Saudi Aramco - Fadhili Gas Plant Expansion: Sulphur Recovery Units Package 2 Gas 800
Saudi Aramco - Fadhili Gas Plant Expansion: Gas Processing Plant Package 1 Gas 800
Saudi Aramco - Fadhili Gas Plant Expansion: Early Civil Works Package 3 Gas 800
Saudi Aramco - Fadhili Gas Plant Expansion: Utilities and Offsites Package 4 Gas 800
Saudi Aramco/Air Products/Baker Hughes - Carbon Capture and Storage Infrastructure: Phase 2 Gas 800
SWCC - Yanbu Production System Phase 2 Water 750
SPPC - Renewable Energy Program Round IV: 500MW Waad al-Shamal Wind IPP Power 716
Saudi Aramco/SLB/Linde - Accelerated Carbon Capture and Sequestration (ACCS): Phase 1 Gas 700 NEOM.com

Source: MEED Projects

 GCC Future Pipeline
In keeping with the theme of this presentation, Saudi is by far the largest projects market in terms of the total projects pipeline,
with more than $1.53 trillion worth of known future projects. Construction dominates in terms of sectors, but every segment has a
Top GCC Construction Contractors by value of work under execution ($m)
sizeable opportunity
Value of known, planned and un-awarded GCC projects ($m)
18,00,000 Water, Industrial,
Gas, 92,171, 82,145, 3% 89,246, 3%
3%
Oil, 1,04,432,
16,00,000 15,33,074 4%

Chemical,
14,00,000 1,75,989, 7%
$2.7
Power,
12,00,000 2,38,776, 9% trillion

10,00,000 Construction
Transport, , 15,22,001,
3,99,799, 56%
15%
8,00,000
6,02,904
6,00,000

4,00,000
2,11,087
2,00,000 1,49,145 1,48,225
60,124
0 NEOM.com

Saudi Arabia UAE Oman Qatar Kuwait Bahrain

Source: MEED Projects
 Trends
• Evolving contractual terms. With projects under time pressure, there is increasing focus on non-standard procurement strategies such
as early contractor involvement (ECI) which effectively act as design competitions. Having contractors take responsibility for their own
designs, the theory is that work can be done with lower construction risk and therefore more cheaply and faster

• Construction Technology and modern methods of construction – clients increasingly focused on the use of technologies like robotics,
drones, BIM, IoT, 3D Printing which can make construction more efficient and reduce carbon footprint

• Likewise offsite fabrication and modularization in general is encouraged to accelerate delivery and reduce onsite labor requirements

• ESG – huge focus especially in advance of COP28. Emphasis on ESG in the supply chain, gender equality and opportunity, staff
treatment, and demands from clients

• PPP – PPP projects are finally spreading beyond the power and water sectors, with the first PPPs in education, roads, healthcare and
education either awarded in the past 2 years or in tender

• Investment in ‘National Champions’ as seen with PIF’s investment in Nesma, El Seif, Almabani and AlBawani to help support delivery
and increase contractor capacities. Investment also in manufacturing and key material supply production like cement

• Increasing divergence in procurement rules between government and quasi-government contracting creating a two-tier procurement
system
 Challenges

• How will Saudi Arabia deliver its huge capital program. Is there enough labor and engineering capacity to deliver it – where will they
be housed. Visa issuances

• Are there enough equipment and material resources for the program? PIF needs about 970 million tonnes of cement between now
and 2030 for example. Where will they be sourced from?

• What will be the impact on cost inflation and how clients overcome this. Anecdotally, recent cost estimates from some projects are
coming in at 3-4 times initial estimates done some years ago. How is the Red Sea situation affecting costs and delivery schedules

• Still question marks over how the total program will be financed. Riyadh has many options but there are some anecdotal signs of
some rationalization and rephasing of projects

• Still not enough international contractors and suppliers active in the market. Perception of risk remains high compounded by
localization rules

• Event-driven projects, aggressive deadlines and iconic design results in higher perceived construction risk, driving up costs

• Localization of material supplies is proving challenging but starting to show some impact. Saudization is also bearing fruit but still
presents a challenge for many companies as they struggle to source and retain Saudi engineering talent
Poll Question 1
Poll Question 2
The Giga Projects Program
 The Giga Projects

PIF Subsidiaries
Top GCC Construction Contractors by value of work under execution ($m)
Non-PIF Others
Official giga projects

AND many more to come NEOM.com

Source: MEED Projects

 World’s largest downtown
Total work development covering 19km2
awarded with total estimated budget of
more than $100bn
AL ULA
to date = NEOM
Tourism development

$80bn City, tourism destination and

industrial hub
Boutique Group
Luxury boutique
hotels renovation

King Salman International

Airport
120m-pax airport
AMAALA
Luxury coastal resort project
Qiddiya
Red Sea Project 334 km2 entertainment city
28,000 km2 luxury coastal
development

Al Wajh Airport refurb

King Salman Park

Green Riyadh
Sports Boulevard
Rua Al Madinah
Islamic & cultural destination for pilgrims Al Wadi
mixed-use
destination
Jeddah Central
Urban Revival Diriyah Residential, cultural and retail destination Entertainment complexes in
Soudah Peaks multiple cities
tourism development
Key Projects
 Jedco – Jeddah Airport Expansion
• Massive $31bn plan to expand King Abdulaziz
International Airport from 40 million passengers a year
capacity to 115 million by 2031
New Terminal 2 Terminal 1 Expansion Terminal 1
• Phase 1 is the expansion of Terminal 1 to increase
capacity by 15 million passengers a year by 2026

• From 2025 construction will start on the new Terminal

2

• New 4th runway to start construction in 2025

• Plan also covers a new logistics area

• Current works cover expansion to the Hajj Terminal

and new baggage handling facility

• Atkins, Mace and DGJ working on the expansion plan.

Construction work to start soon
 NHC – National Housing Plan

• Five-year $43bn plan revealed to build up to 240,000

housing units across the Kingdom

• $19.5bn to be invested in 108,000 units in Riyadh,

most of which will be in the Al Fursan and Khozam
mega developments

• $7.6bn for 41,000 new housing units in Jeddah at

Mayar, Khayala, Al-Sadun and Jawhara developments
among others

• Other targeted developments include the 19,400-unit

Al-Wajeha suburb in Dammam, and the 7,000-unit Al-
Dar development in Medina

• In addition to the housing investments, some $5.8bn

will be need for associated infrastructure works and
$500m for parks and tree planting
 Ministry of Sports – Stadium Expansions

Also involves the construction of the Jeddah Central Stadium, Qiddiya and
Dammam stadiums.

• In January, Jeddah Central Development Company awarded a $1.7bn stadium

construction deal to China Railway Construction Corporation and Sama
Trading & Contracting.

• The Ministry also received bids for Dammam stadium in late December. The
contract is likely to be awarded by the end of this month.

• Last month, Qiddiya Investment Company officially announced the

establishment of a new stadium at Qiddiya City, called Prince Mohammed bin
Salman Stadium. The initial bids were submitted in December.
 SEC T&D Expenditure
Estimated $130bn spending on transmission and distribution projects alone by 2030.

• SR430bn on overhead lines (SR99bn by 2025)

• SR142bn on substations (SR6bn by 2025)

Scope:

• 182 new high-voltage substations

• 90,400km of new transmission lines

• 102 projects to replace or digitalise existing infrastructure

• 4 high voltage intra-regional connections in the Kingdom

• 2 new international electricity connections

• Phasing out of oil and diesel-fired power generation assets

 Riyadh Metro Line 7 and Line 2 extension
Works expected to start as soon as this year
Top GCC Construction Contractors by value of work under execution ($m)

LINE 7
PQ applications submitted last week for new Line 7
which will run from the airport via KAFD, Diriyah and
then on to Qiddiya. Max Speed will be 120km/h. It will
have 19 stations - 5 elevated and 14
underground. Construction period is 6-8 years. It will
interchange with Line 3 at a point along Jeddah Road.
There will also be an interchange with the planned Line
2 extension at a new station in Diriyah called Central
Diriyah.

LINE 2 EXTENSION
For the extension of Line 2, bids are due in mid-March
for the main contract. It has a total length is 8.4km of
which 1.3k is elevated and 7.1km underground. It
includes 5 stations – 2 elevated and 3 underground. It
will run from where Line 2 currently ends at King Saud
University (KSU) and then onward to new stations, KSU
Medical City, KSU West, Diriyah East, Diriyah Central
(where it interchanges with the planned Line 7), and NEOM.com

then finally Diriyah South.

Source: MEED Projects
 Riyadh Expo 2030
• Official budget of $7.8bn of which some $400m
offered to development nations to support their own
pavilions
• Located to the north of Riyadh close to the King Khalid 40 Million
International Airport Site Visits
• Likely to be served by extension of Riyadh metro and
dedicated station. Link with KKIA probable
• Expo site will be circular, unlike previous World Expos
• Bid process and masterplan handled by the Royal
Commission for Riyadh (RCRC) and-house architectural
team.
• Unclear if RCRC will remain the client for the
infrastructure and general construction or whether a
new body will be formed
 Saudi Aramco 3-year plan

Saudi Aramco is planning 90 major projects in period 2023-25.

Oil projects: Refining & Petrochemical:

• Zuluf Offshore Development • Liquid to Chemical Programme
• Marjan Development • Refinery Residue Upgrades
• Berri Development • Sulphur Recovery Upgrades
• Haradh Expansion

Gas projects: Pipeline, distribution and utilities:

• Fadhili Gas Plant Expansion • Master Gas System Phase III

• Jafurah Development • Ras al-Khair Export Terminal
• Riyas NGL Fractionation • Vapour Handling Facilities
• Gas Compression • Upgrade marine terminals
• Pipeline rehabilitation program
 Would you like us to call you to understand
how MEED can support your business?

MEED.COM MEED PROJECTS

Exclusive, data-driven, and actionable business intelligence The most in-depth project tracking platform in the MEA
designed for you to succeed in the MENA region with over region. You can access contact details of decision makers,
7,000 news and analysis articles published in a year. accurate project details and secure contracts across all
key sectors.

PIR Reports EVENTS MARKETING SOLUTIONS

In-depth market analysis reports examining From large-scale summits & Use our global databases and company
the business outlook in the MEA region. conferences to award nights, MEED level intelligence to help identify
Reports provide political and economic Events provide high-profile speakers, prospective clients – we can identify your
overviews, with detailed analysis of all key relevant and critical business content target companies.
sectors from across the GCC.
 DIAMOND PARTNER GOLD PARTNER SILVER PARTNER CONTRACTING PARTNER CONSULTING PARTNER

DESIGN PARTNER BRONZE PARTNER ATTENDING PARTNER ORGANISED BY

 Saudi Giga Projects 2024 & Beyond
Report
Report’s pre-launch $4,250 $4,150
Visit buy.meed.com and apply code
WEBINAR100 for further -$100 discount*

*The offer is available for webinar attendees only

and is valid until 1st March 2024.
Saudi Giga Projects 2024 & Beyond Report includes:

• Detailed information on each of the giga-projects

• Top contractors and values
• Details the main projects being planned, under development and those due to be awarded in
2024/25 and beyond
• Project packaging and phasing
• Projects opportunities with client and procurement details
• Investment drivers and client spending plans
• Understand risks and set strategy
• Identifies the biggest spending clients Scan or click
• Key stakeholders and decision makers the code for
• Future contracts and packages more information
• Visualisation of each gigaproject
• Details of supplier and contractor registration
• Key challenges
Download sample pages to find out more
Q&A
Do you have any questions?

Please take this short projects market survey

Ed James
Head of Content
MEED
[email protected]
Tel: +971 50 661 4048