GREAT FUTURES

Saudi giga-projects offer big opportunities for British businesses

Few things demonstrate the rapid economic transformation that the Kingdom of Saudi Arabia is undergoing like the giga-projects that are developing across the country.

The Saudi government-backed Public Investment Fund (PIF) has committed to spending $3 trillion on regional development by 2030.

Central to the Kingdom’s ‘Vision 2030’ plan are 14 giga-projects, defined by their significant investment size, transformative impact and strategic importance. The opportunities for British ingenuity, skills, services and products to help develop these vast projects are diverse.

They range from the 10 smart city regions of NEOM, with an estimated construction cost of $500 billion, to ROSHN’s ambition to increase Saudi Arabian home ownership to 70% through the construction of 400,000 homes across the country.

The giga-projects are designed to create new ecosystems and stimulate the economy across multiple sectors, including innovation, green energy, infrastructure, emerging technology, tourism and more. In turn, they will showcase the nation's geographical richness, cultural heritage, hospitality, economic goals and commitment to environmental conservation.

GREAT FUTURES, a 12-month partnership with the government of Saudi Arabia, aims to drive mutually beneficial relationships and explore the value that UK businesses can bring to the country’s Vision 2030. The GREAT FUTURES launch event in Riyadh in May    presents an unmissable opportunity to introduce British businesses to the decision makers responsible for these giga-projects.  Register your interest in joining us.

The 5 original giga-projects are:

KAFD giga-project, Riyadh, Saudi Arabia

NEOM Giga-project, Saudi Arabia

NEOM

Encompassing an area of around 10,200-square-miles, NEOM will consist of 10 regions. These include a 170-kilometre-long city called The Line, an octagon-shaped port city named Oxagon, a ski resort named Trojena and an island resort called Sindalah. Incorporating smart city technologies and functioning as a tourist destination, it has a reported construction cost estimate of $500 billion.

Red Sea Global

The Red Sea Project will see areas of Saudi Arabia’s coast developed in line with the country's focus on sustainability, conservation and increasing tourism. Spanning 10,810-square-miles, it consists of more than 90 unspoiled islands, inland resorts, marinas, luxury residential properties, recreation facilities and a commercial airport to serve the destination.

Qiddiya

A fully self-contained recreational city that, when completed, is expected to be the world’s largest entertainment complex, surpassing Walt Disney World in Florida. The 141-square-mile project will contain numerous entertainment facilities, including sports arenas, concert halls, a racetrack, a branded golf course and a theme park, featuring the world’s longest, tallest and fastest rollercoaster.

ROSHN

With a core objective to increase the rate of home ownership in Saudi Arabia to 70% by 2030, ROSHN has set the target of building 400,000 homes across the country. These developments will provide pedestrian-friendly streets, green spaces, and retail and entertainment outlets, as well as hospitals, medical centres, mosques, and sports facilities.

Diriyah Gate

A $57 billion cultural and lifestyle tourism project aimed at restoring Diriyah, the birthplace of the first Saudi state, as a global heritage and cultural destination. The 5-square-mile development is centred on the At-Turaif UNESCO World Heritage Site. Building will take place in 3 phases, encompassing ultra-luxury residential estates, residential homes, schools, new hotels and resorts, museums, cultural attractions, luxury and lifestyle outlets, as well as traditional souqs and bazaars.

The GREAT FUTURES launch event will provide opportunities for British businesses to explore collaboration and partnership with Saudi counterparts on these ‘once in a generation’ projects.

Register your interest in joining us in Riyadh on 14 to 15 May 2024 to kick off this year-long programme to accelerate business and cultural exchange between our two countries.

Please note: Due to anticipated demand, registration does not guarantee a place, so please wait for further details before booking travel and accommodation.

For more information, please email hello@GREAT-FUTURES.co.uk.