The Kingdom\u2019s infrastructure sector is experiencing remarkable development and growth, supported by Vision 2030, which seeks to promote economic diversification and expand the launch of mega real estate projects such as \u201cAl-Qiddiya,\u201d \u201cNium,\u201d \u201cRed Sea,\u201d and others\u2014to such an extent that the government launched the National Infrastructure Fund in October 2021 to invest in this vital sector, which is the backbone of economic growth.<\/p>\n
The value of infrastructure projects funded by the fund over the ten years since its launch amounts to approximately 200 billion Saudi riyals\u2014equivalent to roughly $53 billion\u2014which are aimed at supporting sustainable development in the Kingdom rather than relying solely on oil.<\/p>\n
He promises National Infrastructure Fund<\/a><\/strong>\u2013 One of the development funds and banks affiliated with the National Development Fund\u2014a leading partner in the Kingdom\u2019s development financing for infrastructure projects, It also works to enable and accelerate strategic infrastructure projects in the Kingdom, thereby contributing to the achievement of the goals of Saudi Vision 2030 and enhancing the quality of life for individuals and society.<\/p>\n The fund focuses on encouraging partnership with the private sector by incentivizing local and international investors and attracting them 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.<\/p>\n 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 the Kingdom's capital markets. In addition to opening up new infrastructure projects to private sector investments and enhancing the Kingdom's position as a leading international investment destination for infrastructure projects.<\/p>\n As infrastructure projects in the country continue to expand, Saudi Arabia has topped the list of countries with the highest value of mega-projects being implemented in the Gulf Cooperation Council (GCC) states, with a total value of approximately $2 trillion, reaffirming its leading position in the infrastructure and economic development sectors, and the leading role it plays in infrastructure development.<\/p>\n The Kingdom accounts for half of the mega-projects in the Gulf Cooperation Council (GCC) countries, with a series of massive cities, skyscrapers, and infrastructure projects currently in various stages of planning and design.<\/p>\n In the same vein, Knight Frank revealed in its latest report that the Kingdom has awarded approximately $250 billion in construction contracts for projects Infrastructure<\/a>\u00a0<\/strong>Real estate transactions over the past 12 months, valued at approximately $1.3 trillion, have been disclosed since 2016.<\/p>\n The report noted that there is a sense of growing momentum as Saudi Arabia races toward the deadline for Vision 2030 and emerges as a new global economic power.<\/p>\n A report by Knight Frank indicated that positive sentiment surrounding the economic transformation increased even further following last year\u2019s announcement that Riyadh would host\u00a0World Expo<\/a><\/strong>\u00a0In 2030, when the Kingdom won the bid to host the 2034 FIFA World Cup.<\/p>\n The expansion of infrastructure projects is underpinned by long-standing changes in Saudi Arabia's real estate market to foreign ownership rules, and an important milestone was reached at the beginning of the year when a raft of new decisions were introduced and residency visa options, including a visa linked to property ownership, were unveiled, which will likely pave the way for international buyers and investors.<\/p>\n Not to mention that the National Transformation Plan aims to divert 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.<\/p>\n In addition, infrastructure is one of the largest sectors that continues to grow steadily in Saudi Arabia, driven by Vision 2030 projects such as NEOM, which is expected to attract $500 billion in investments, as well as projects like Al-Qiddiya and the Red Sea, in addition to housing projects, as the Kingdom works to add 300,000 housing units by 2025.<\/p>\n The infrastructure sector has also attracted the attention of local and foreign companies due to the scale of projects in the Saudi market and the diversity of its needs, which has led companies from various fields\u2014such as construction, project and building equipment, and related supplies\u2014to participate in the Saudi Infrastructure Summit exhibition.<\/p>\n <\/p>","protected":false},"excerpt":{"rendered":" Reading time: <\/span> 3<\/span> Minutes<\/span><\/span>The Kingdom\u2019s infrastructure sector is witnessing remarkable development and growth, supported by Vision 2030, which seeks to promote economic diversification and expand the launch of mega real estate projects such as \u201cAl-Qiddiya,\u201d \u201cNium,\u201d \u201cRed Sea,\u201d and others\u2014to such an extent that the government launched the National Infrastructure Fund in October 2021 to invest in this vital sector, which is the backbone of economic growth. The value of infrastructure projects \u2026 Read 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Infrastructure Projects\u00a0<\/strong><\/span><\/h4>\n
Expansion of Infrastructure Projects\u00a0<\/strong><\/span><\/h4>\n