Saudi Arabia's $330B Major Projects
Huge projects in Saudi Arabia have been awarded, totaling approximately $130 billion by the end of last year. It is expected that new contracts worth nearly $200 billion will be announced, bringing the total value of projects and contracts to around $330 billion. This reflects the construction and development sector in the Kingdom moving into a broad implementation phase, with a focus on strengthening the private sector's capabilities, supply chains, and local content manufacturing. These developments come alongside the Mega Projects Summit held in Riyadh, which concentrates on developing local capabilities and achieving alignment with the objectives of Saudi Vision 2030 through discussions on implementation challenges and opportunities. The summit also launched the Contractors Leaders Forum to support digital transformation and industry localization, and showcased major projects such as the Jeddah Tower and participations in Expo 2030.
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