Saudi giga-projects: how much has been delivered so far

PIF had invested $56 billion in its five giga projects by the end of 2024, 12% less than a year earlier (PIF FY2024 annual report, via AGBI). The five are ROSHN, Red Sea Global, Diriyah, Qiddiya and NEOM.

What has opened is much smaller. By mid-2026 the owners had put numbers on three things: a 440-room island resort at NEOM, 83 km of Riyadh's Sports Boulevard, and the first resorts on Shura Island. For most of the announced scope, nobody publishes a delivered count. This page sets out what each owner says it will build, what has opened, and where the answer is n/a.

Key figures at a glance

How many giga projects does Saudi Arabia have?

People ask for four, five, sometimes six. We use five, because that is the list PIF itself reports against: ROSHN, Red Sea Global, Diriyah, Qiddiya and NEOM (PIF FY2024 annual report, via AGBI, Aug 2025).

King Salman Park, Sports Boulevard, New Murabba, Jeddah Central, Masar and Rua Al Madinah are just as large on the ground. They sit outside that line, under the Royal Commission for Riyadh City or as separate PIF companies.

For supply modelling, the five-project line is the only place where one audited source gives a combined figure: $56 billion at end-2024, down 12%, or roughly $8 billion (PIF via AGBI). Over the same year PIF's assets under management rose 19% to $913 billion, so the funding exists and the open question is the order in which it gets spent.

Announced vs delivered, project by project

Each row sets the scope the owner states officially against what had opened by mid-2026. Where no official body counts delivery, the cell says n/a. We re-checked every scope on the live official pages on 28 July 2026.

Where delivery is counted at all, it is hotels and public space. Housing is the part that moves national supply. Its targets run to hundreds of thousands of homes, and no project in the programme publishes a delivered-unit count.

What has opened

Three openings come with dates and numbers from their owners. Sindalah opened on 27 October 2024 with 440 hotel rooms, 88 villas and 218 luxury serviced apartments on an 840,000 sqm island (SPA, 27 Oct 2024). It is the first NEOM asset a paying guest can visit.

Riyadh's Sports Boulevard opened five destinations on 27 February 2025. Its foundation said 83 km were complete, with overall progress at 40% (Sports Boulevard Foundation). The project launched on 19 March 2019, so that is just under six years to reach 40%. No other giga project has given a delivery pace this precise.

Shura Island, the hub of The Red Sea, started taking guests in 2025 and is debuting 11 resorts, with the island fully live in 2026. The 2030 target is still 50 resorts and 8,000+ keys (RSG and Marriott joint statement via PRNewswire, 14 Oct 2025).

Oxagon's port handles 250,000 TEU today and is planned to reach 1.5 million TEU by 2030 (NEOM).

The Line's page no longer gives a size

When we re-checked it on 28 July 2026, NEOM's page for The Line gave no length and no population anywhere. The figures from the original launch are gone. The page now talks about "a phased, demand-led approach."

NEOM no longer repeats The Line's founding numbers, so supply models should not carry the original figure as a planned delivery.

ROSHN still states its numbers: 400,000 housing units by 2030, against 85,000 units in the pipeline (AGBI tracker, updated 27 Jul 2026).

Omran cross-check (calculation, not a sourced figure). ROSHN's own community pages list SEDRA at 30,000+ homes, ALMANAR 33,000+, ALAROUS 18,000+, WAREFA 2,000+ and ALDANAH 2,576 (ROSHN communities, re-fetched 28 Jul 2026). Added up, that is roughly 85,576+ homes on some 48.1 million sqm, close to AGBI's 85,000-unit figure. So ROSHN's published pipeline is about 21% of its 2030 target, and none of it is a count of homes handed over.

Where the official record stops

Four big names give no scope we could verify. Diriyah's official site, PIF's New Murabba release and KAFD's portfolio pages were all behind bot-protection on every attempt on 28 July 2026. We have left out the hotel-key and floor-area figures usually quoted for them rather than repeat them unchecked.

Masar in Makkah has no reachable official scope either. Demand on that corridor shows up in Makkah's licensed hotel stock instead, which passed 300,000 rooms in Q1 2025, up 41% year on year (Ministry of Tourism via SPA, 1 Jun 2025). We cover it in our Makkah hotel market analysis.

Qiddiya has a clear target, a city of 500,000 residents (AGBI tracker), but no investment figure of its own in PIF's FY2024 reporting and no published count of what is built.

Omran observation: what this means for supply forecasts. Across the whole programme, the delivery we can find in official numbers is 746 accommodation units at Sindalah (440 rooms + 88 villas + 218 serviced apartments), 11 Shura resorts and 83 km of linear park. The announced scope includes 400,000 ROSHN homes, 17,000 Jeddah Central homes and a city of 500,000 people. Nobody publishes how much of the announced figure turns into delivery. We would put giga-project units in a separate, heavily discounted bucket, dated by each developer's own phase statements and never by the headline target year. Our note on pipeline vs net supply explains why; this is the extreme case.

The demand behind these projects is real and shows up in the primary data: housing pressure in the Riyadh residential market, the national Saudi residential market and office take-up in the Riyadh office market. We update the table above project by project as sources change. Request the underlying announced-vs-delivered table, or ask us for a briefing on the projects in your model.

FAQ

What are the Saudi giga projects? PIF's FY2024 reporting lists five: ROSHN, Red Sea Global, Diriyah, Qiddiya and NEOM, with $56 billion invested by end-2024. King Salman Park, Sports Boulevard, New Murabba, Jeddah Central, Masar and Rua Al Madinah are as large but sit outside that line.

How many giga projects has Saudi Arabia actually opened? As of mid-2026, the quantified openings are Sindalah at NEOM (440 rooms, 88 villas, 218 serviced apartments, October 2024), the Sports Boulevard first phase (83 km, 40% progress, February 2025) and Shura Island's first Red Sea resorts (11 debuting from 2025). No giga project has published a delivered housing-unit count.

Is NEOM still going ahead? Parts of it are open. Sindalah takes guests and Oxagon's port handles 250,000 TEU. But as of July 2026 NEOM's page for The Line gives no length or population figure, and describes "a phased, demand-led approach" instead.

Why are Saudi giga projects seen as delayed? PIF's FY2024 report shows giga-project investment falling 12% to $56 billion even as fund assets grew 19% to $913 billion, and ROSHN's published pipeline of 85,000 units stands at about a fifth of its 400,000-unit 2030 remit. No official source publishes revised completion dates programme-wide.

What is the difference between a giga project and a mega project? There is no legal threshold. In Saudi usage a "giga project" is one of the city-scale schemes PIF founded under Vision 2030. "Mega project" is the general industry term for any very large development. The simplest test is ownership: PIF's five giga projects are companies it set up, not buildings it lent to.

Do giga project announcements count as housing supply? No. Announced scope is a plan, and nobody publishes how much of it gets built. As of mid-2026 no Saudi giga project discloses a delivered-unit count. Model them separately, discounted and dated by official phase statements.

Sources

• PIF FY2024 annual report figures ($56bn giga-project investment, -12%; $913bn AUM), via AGBI: link
• AGBI Giga-Projects Tracker, ROSHN (400,000 target; 85,000 pipeline): link
• AGBI Giga-Projects Tracker, Qiddiya (500,000 residents): link
• ROSHN official communities page (SEDRA, ALMANAR, ALAROUS, WAREFA, ALDANAH unit counts): link
• Saudi Press Agency, Sindalah opening inventory and targets: link
• NEOM official site, The Line (no scope figures stated): link
• NEOM official site, Oxagon (48 km²; port capacity): link
• NEOM official site, Trojena (1,400 km²): link
• Red Sea Global / Marriott joint release (50 resorts, 8,000+ keys; Shura Island; visitor caps): link
• Sports Boulevard Foundation, first-phase opening release (83 km, 40%, 19 Mar 2019 launch): link
• Royal Commission for Riyadh City, King Salman Park (16+ km², 1M trees): link
• Parametric Architecture, King Salman Park first-phase 2026 opening (citing KSP Foundation/RCRC): link
• Jeddah Central Development Company, project scope and 2027 first phase: link
• Rua Al Madinah Holding, 30M-visitor accommodation target: link
• Ministry of Tourism via SPA, Makkah licensed rooms >300,000 (Q1 2025): link