A GLANCE INTO SAUDI GIGA PROJECTS
In order to realize its Vision 2030 goal, which includes achieving the objectives of improving the quality of life for citizens, luring more tourism, and establishing a more diverse and future-centered economy, the Kingdom of Saudi Arabia is going through a significant economic and developmental transformation. To achieve in its quest to become unparalleled the Kingdom has several ambitious new initiatives, including NEOM and the Red Sea Project, both of which have generated hundreds of thousands of employment opportunities.
Let’s dive into a few of these ongoing development projects:
Among Saudi Arabia’s megaprojects, NEOM is undoubtedly the most attractive and future forward development currently underway. NEOM, which is in the north-west of KSA, spreads over an area of 26,500 square kilometers. It is planned to be a futuristic smart city with a variety of attractions that will run entirely on clean energy and have no cars or carbon emissions. The $500 billion giga-project will be treated as a separate legal entity from the rest of the kingdom, with its own legal framework, economic space, and power.
An international hub will also be built as part of a network of airports that will be built in NEOM. The first, known as NEOM Bay Airport, is in use by investors and on-site staff members and is located in Sharma’s northern region. Furthermore, the largest green hydrogen and green ammonia plant in the world, which is expected to start operating in 2025, is also being developed in NEOM as part of a $5 billion cooperation deal between ACWA Power and Air Products, an American international corporation.
The Line, a remarkable project located within the NEOM, is a 170km-long skyscraper that is 200 meters wide and over 300 meters tall. Approximately nine million people are expected to live there. A high-speed train will run beneath the structures and connect them with walkways. The city will be fully carbon neutral, and the 170km will be free of roadways and automobiles.
The Line, according to Saudi Crown Prince Mohammed bin Salman, “will symbolize how metropolitan areas will be in the future.” “Zero Gravity Urbanism is a concept that involves layering city operations vertically, providing individuals the opportunity to move effortlessly in three dimensions to reach them,” he stated.
Also set within the NEOM, Oxagon will become the largest floating industrial complex in the world is intended to be located in this future forward city. Sustainable energy, autonomous mobility, water innovation, sustainable food production, health and well-being, contemporary construction and technology methods, and digital manufacturing, including telecoms, space technology, and robotics, will be the seven sectors that the country’s industrial development plan will concentrate on. In the future, Oxagon will help redefine how industrial development is done around the world, conserving the MISK environment and boosting economic progress in NEOM.
It will help Saudi Arabia with its regional trade, business, and assistance while establishing a new hub for international commercial flows. This brand-new metropolis, focused on establishing cutting-edge new industries, has already begun to take shape and its rapid progress is optimistic.
Trojena, a future development inside NEOM, will focus more on tourism. The mountain resort will be the first significant location for outdoor skiing among the GCC states. It will include six districts: Gateway, Discover, Valley, Explore, Relax and Fun. The Vault, a future vertical hamlet hidden under the mountains where advanced design and technology “integrates reality with the virtual world,” will serve as the starting point for trips to Trojena. Trojena will also offer water sports on a sizable man-made freshwater lake in addition to winter sports, hiking trails, mountain biking paths, and a nature reserve.
Prince Mohammed bin Salman Non Profit City
Announced late last year, this city plan will house venture capital companies and investors who will support and incubate talent and businesses to drive community contributions from around the world. The city will be situated in Riyadh province, on a territory that is thought to be roughly 3.4 square kilometers, close to Wadi Hanifa. The overall development project of this city comprises residential zones with 6,000 apartments with various floor plans, 500 villas and townhouses, with the capacity to inhabitate approximately 18,000 people.
According to Prince Mohammed bin Salman, “Prince Mohammed bin Salman Non Profit City will host academies, colleges, “MISK schools,” a conference center, a science museum, and a creative center offering a space to support the aspirations of innovators in the field of sciences and new generation technology such as AI, IoT and robotics.”
Red Sea Project
The Red Sea Project, a crucial component of Saudi Arabia’s effort to promote tourism, is moving on with development after receiving contracts worth billions of riyals. Over 1,000 residential residences and up to 8,000 hotel rooms are being constructed in the project’s 50 resorts, which will spread among 22 islands and six inland locations.
Along with ancient cultural and heritage sites, the area is home to mountain canyons, dormant volcanoes, and other natural features.
According to The Red Sea Development Company’s first sustainability report, the project is anticipated to earn 22 billion riyals in revenue annually by 2030 and 464 billion riyals in cumulative revenue through its construction cycle and its ten years of consistent operations by 2040. By 2040, 70,000 employment are projected to be created by this project.
The Red Sea Project’s first phase is scheduled for completion by the end of 2023, while phase two will see the construction of an additional four or five islands.