Real Estate
Saudi Arabia’s Vision 2030 Projects Reach $1.3 Trillion in Value
- About $164 billion in real estate contracts awarded to date
- Mega project Neom has seen largest real estate contract awards
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Saudi Arabia has launched $1.3 trillion in real estate and infrastructure projects over the past eight years as part of its plan to diversify the economy away from oil and become a more attractive place to live, work and travel.
The volume of projects is up 4% from a year ago, according to Knight Frank. This includes more than a million residential units and mega developments such as Neom on the Red Sea coast, the real estate consultancy group said in its latest Saudi Giga Projects Report.