The value of contracts awarded by Saudi Arabia’s giga-projects rose 20% this year to $196 billion, according to Knight Frank’s Saudi Arabia Giga Projects Report 2025. The surge signals the Kingdom’s transition from planning to execution under Vision 2030.
Riyadh continues to lead this transformation, with flagship projects such as Diriyah Gate, King Salman Park, and the Sports Boulevard reshaping the capital. Since 2016, projects worth over $237 billion have been announced in real estate, infrastructure, and transport, with $44 billion already awarded.
Knight Frank noted that Riyadh’s rapid expansion aims to support population growth to 10.1 million by 2030, adding more than 340,000 homes, 4.8 million sq. meters of office space, and nearly 30,000 hotel rooms.
In western Saudi Arabia, home to Neom, Red Sea Global, and Qiddiya Coast, total announced investments reached $431 billion, with $57 billion awarded so far. Nationally, projects across other regions account for an additional $132 billion in investment.
The report also highlights Saudi Arabia’s growing focus on sports and entertainment, with over $17.5 billion invested in stadiums and $4.7 billion in leisure destinations led by Saudi Entertainment Ventures (SEVEN).Knight Frank said the pace of progress confirms that Vision 2030’s once-aspirational ambitions are now entering a full-scale delivery phase.