The most important mega projects in Saudi Arabia and their impact on your investment decision

When evaluating any real estate opportunity in Saudi Arabia, it is not enough to look at the property itself in isolation from its surroundings. The Kingdom is currently witnessing the implementation of 11 mega-projects as part of Vision 2030, with a combined value exceeding one trillion dollars for the largest five alone (Neom, Qiddiya, Red Sea, Roshn, and Diriyah). These projects are reshaping the urban landscape and directly and tangibly increasing the value of properties within their sphere of influence. In this guide, we highlight the most prominent of these projects and how they actually impact your investment, with real examples from our projects.

Why do mega-projects matter to you as a real estate investor?

The principle is simple: every major government investment in infrastructure, entertainment destinations, or new economic centers creates residential and commercial demand in its immediate vicinity—whether for housing project workers, serving visitors and tourists, or hosting related economic activities. This growing demand historically reflects on two things: an increase in the capital value of the property over time, and an increase in rental demand in the surrounding area. An investor who enters the market early, before the nearby mega-project is completed, often achieves a tangible price difference compared to those who enter after the project is finished and prices have already risen.

The most prominent mega-projects in Saudi Arabia

Here are some of the most prominent mega-projects in the Kingdom:

Inside Riyadh and its surroundings

• King Abdullah Financial District (KAFD): The Kingdom's main financial destination, featuring luxury towers and offices for international companies, and a continuous economic attraction point for the surrounding neighborhoods in northern Riyadh.

• King Salman Park: One of the largest urban parks in the world under construction, located in northern Riyadh and aimed at enhancing quality of life and green spaces in its vicinity.

• The Sports Boulevard: A massive project stretching across Riyadh to integrate sports, entertainment, and green spaces, enhancing the appeal of the neighborhoods it passes through.

• Boulevard World and Riyadh Park: Two major entertainment and commercial destinations in northern Riyadh, increasing vibrancy and demand for nearby properties.

• Qiddiya: The largest global entertainment destination under construction, covering more than 376 square kilometers southwest of Riyadh (about 45 km from the city center).

• Diriyah Gate: A massive heritage and tourism project in northern Riyadh, reviving the birthplace of the first Saudi state as a global cultural and tourist destination.

• Roshn: The real estate arm of the Public Investment Fund, and the largest developer of integrated residential communities in the Kingdom, with flagship projects like Sidra in northern Riyadh.

• Riyadh Metro and its expansions: The public transport network with six completed lines, with plans for a new seventh line extending from Diriyah Gate in the north to Qiddiya in the south.

Read also: Apartments for sale in Saudi Arabia with installment

Outside Riyadh

• Jeddah Central: The grand waterfront development project in Jeddah, featuring integrated residential, commercial, and entertainment components on the Red Sea coast.

• Neom: The largest circular economy project in the northwest of the Kingdom (approximately 26,000 km²), including sub-projects like The Line, Trojena, and Oxagon.

• Red Sea: A luxury tourist destination spanning more than 28,000 km² on the Red Sea coast, operating entirely on renewable energy.

Real examples: How do these projects reflect on our portfolio?

Osus Makan Project (Al Malqa District, Riyadh)

This is by far the clearest example. The Osus Makan Project is located on Al Khair Road in Al Malqa District, directly adjacent to Boulevard World, Riyadh Park, and King Abdullah Financial District (KAFD), and about 30 minutes from King Khalid International Airport. This means the value of this project is organically linked to three of the most important economic and entertainment destinations in northern Riyadh at once.

Neptune & Iwan Sidra (Sidra District, Riyadh)

Sidra itself is the flagship residential project of Roshn (the real estate arm of the Public Investment Fund), which means any investment there is directly linked to one of the Kingdom's five largest mega-projects in terms of combined investment value. The project is also close to King Khalid International Airport and the Roshn Front commercial area.

Najd 5 (Al Janadriyah District, Riyadh)

The Najd 5 Project is located near universities, parks, and key hubs, within a strategic location designed to benefit from the ongoing urban expansion in northeast Riyadh, in line with plans to expand Riyadh Metro and its new routes.

Trump Tower & Darko Prime (Al Shati District, Jeddah)

Both projects, Trump Tower and Darko Prime, are located in the coastal Al Shati District in Jeddah, an area that directly benefits from the momentum of the Jeddah Central project and the development of the city's waterfront, supporting both rental and capital value in the medium and long term.

Read also: Under-construction properties for sale in Sidra District

How to properly assess proximity to a mega-project?

Geographic proximity alone is not enough to justify an investment decision. Ask yourself:

• What is the source of the project's funding? Projects backed by the Public Investment Fund (like Roshn, Qiddiya, and Neom) are usually more stable in terms of execution commitment compared to smaller private projects.

• What is the actual timeline? Some mega-projects are implemented in phases that span many years; do not assume that being close to a project that will be completed in 10 years means an immediate increase in value.

• Is the project already partially completed or still in its early stages? The closer the project is to actual completion (not just announcement), the more accurately you can assess its impact on surrounding properties.

• Is there accompanying infrastructure (roads, public transport) that supports actual access to the area? A massive project without sufficient roads or public transport may see its positive impact on nearby properties delayed.

Risks to consider

It is important to note that investing based on proximity to a mega-project is not without risks. Some phases may be delayed beyond the announced schedule, and the actual impact on prices may differ from initial expectations depending on the speed of project completion and the actual demand at delivery. Therefore, we always advise treating proximity to a mega-project as an additional supporting factor within a comprehensive feasibility study, not as the sole reason for making a decision.

Our team closely monitors the developments of mega-projects and links them to real investment opportunities within our portfolio, helping you make a decision based on real data, not just general expectations. Whether you are interested in an area near KAFD, a project within the Roshn portfolio, or an opportunity on Jeddah's waterfront, we help you assess the opportunity accurately.

Frequently asked questions about mega-projects and their investment impact

Does proximity to a mega-project guarantee an increase in property value?

There is no absolute guarantee, but the real estate history in Saudi Arabia shows a clear link between the completion of major projects and increased demand and value in their immediate surroundings, especially for government-backed projects.

What is the difference between investing near a completed project and one still under construction?

Early investment (before completion) carries higher risk but offers a greater chance for capital gain, while investing after completion is safer but prices may have already partially increased.

Which of your projects are closest to currently active mega-projects?

Osus Makan in Al Malqa District is the most closely linked (KAFD, Boulevard World, Riyadh Park), along with Neptune & Iwan Sidra as they are within the Sidra project directly owned by Roshn.

Does this impact include all cities in the Kingdom or only Riyadh?

It also includes other cities, most notably Jeddah (through the Jeddah Central project) and other cities hosting components of Neom or the Red Sea.