The value of infrastructure projects funded by the fund over a period of ten years since its launch is about 200 billion Saudi riyals, equivalent to approximately 53 billion dollars. The value of the infrastructure projects financed by the fund over a ten-year period since its launch is about 200 billion Saudi riyals, equivalent to about 53 billion dollars, which aims to support sustainable development processes in the Kingdom instead of relying on oil only.
National Infrastructure Fund - one of the development funds and banks of the National Development Fund - is the Kingdom's leading development finance partner for infrastructure projects and works to enable and accelerate the Kingdom's strategic infrastructure projects to contribute to the realization of Saudi Vision 2030 and enhance the quality of life for individuals and society.
National Infrastructure Fund (NIF) is the Kingdom's leading development finance partner for infrastructure projects and works to enable and accelerate the Kingdom's strategic infrastructure projects in order to achieve the objectives of Saudi Vision 2030. The Fund focuses on encouraging partnership with the private sector by incentivizing and attracting local and international investors to participate and invest in the implementation of quality infrastructure projects through a package of valuable products and innovative solutions that will deepen the infrastructure financing markets in the Kingdom.
The Fund focuses on encouraging partnership with the private sector by incentivizing and attracting local and international investors to participate and invest in the implementation of quality infrastructure projects through a package of valuable products and innovative solutions.
Strategic Infrastructure Projects
<It also aims to accelerate the implementation of strategic infrastructure projects in the Kingdom, provide innovative financing solutions that increase the attractiveness of investment opportunities for infrastructure projects, enhance private sector participation in infrastructure projects, and contribute to the deepening of capital markets in the Kingdom. In addition to opening up new infrastructure projects to private sector investment and strengthening the Kingdom's position as a leading international investment destination for infrastructure projects.With the growth of infrastructure projects in the country, Saudi Arabia topped the list of countries with the highest value of megaprojects in the GCC, representing about two trillion dollars, which confirms its leading position in the infrastructure sector and economic development, and the leading role it plays in infrastructure development and development.
<The Kingdom accounted for half of the megaprojects in the GCC, with a series of megacities, high-rise buildings and infrastructure projects currently in various stages of planning and design. Knight Frank revealed in its latest report that the Kingdom has awarded nearly $250 billion in construction contracts for infrastructure and real estate projects in the past 12 months, worth around $1.3 trillion and unveiled since 2016.
In the latest report, Knight Frank revealed that the Kingdom has awarded nearly $250 billion in construction contracts for infrastructure and real estate projects in the past 12 months, worth around $1.3 trillion and unveiled since 2016.
The report stated that there is a sense of growing momentum as Saudi Arabia races toward the deadline for Vision 2030 and as it emerges as a new global economic powerhouse.
The report stated that there is a sense of growing momentum as Saudi Arabia races toward the deadline for Vision 2030 and as it emerges as a new global economic powerhouse.
The positive hype around economic transformation was further amplified with last year's announcement that Riyadh will host the World Expo in 2030 and the Kingdom winning the 2034 FIFA World Cup.
The Knight Frank report said that there is a sense of momentum building as Saudi Arabia races toward the Vision 2030 deadline and emerges as a new global economic powerhouse.
Expansion of infrastructure projects
The expansion of infrastructure projects supports the Saudi real estate market's long-standing changes to foreign ownership rules, and a major milestone was reached at the beginning of the year when a slew of new decisions were introduced and residency visa options, including one linked to real estate ownership, were unveiled, which will likely pave the way for international buyers and investors.
Along with the infrastructure plan, Saudi Arabia's real estate market has long been undergoing changes in the rules of foreign ownership. <The National Transformation Plan (NTP) is targeting a staggering amount of investment into the real estate development sector. There are projects totaling more than $1.25 trillion, of which $250 billion in contracts have already been awarded as the vision quickly becomes a reality. In addition, infrastructure is one of the biggest sectors that continues to grow in Saudi Arabia, fueled by Vision 2030 projects, such as NEOM, which is expected to attract $500 billion in investment, as well as projects such as Qiddiya and the Red Sea, in addition to housing projects, as the Kingdom works to add 300,000 housing units by 2025.
In addition, infrastructure is one of the biggest sectors that continues to grow in Saudi Arabia, fueled by Vision 2030 projects, such as NEOM, which is expected to attract $500 billion in investment. The infrastructure sector is also of interest to local and foreign companies due to the size of the projects in the Saudi market and the diversity of its needs, which prompted the presence of companies in various fields such as construction, project equipment, buildings and supplies at the Saudi Infrastructure Summit exhibition.
