The close of 2019 saw 27 billion USD in tourism construction agreements between the Kingdom of Saudi Arabia and local and global investors. Tourism development plans have set the foundation for the construction of expansive mixed-used facilities – not to mention all of the required infrastructure that will be needed to make these destinations accessible, such as roads and highways, bridges, airports, utilities, and public transportation facilities.
The country also needs enough hotels to be able to cope with the expected demand increased tourism will cause. In fact, the Kingdom is leading the hoteling boom in the Middle East, with a record high of 73,599 rooms being built across 218 properties.
Here are 4 projects to keep you eye on:
13 Regional Museums
As part of the National Transformation Program 2020 covers the establishment, expansion, and development of 13 regional museums across various regions in the Kingdom. This year, the first four are opening their doors in Asir, Hail, Tabuk and Jouf.
The construction of the museums has been completed and cost more than USD 59.7 million. The scope of work not only included the construction of new buildings, but also designing and preparing presentations and artifacts according to the most up-to-date designs and modern advancements in the field.
Red Sea Project
Developers of the Red Sea Project plan to sign USD 2.7 billion in building contracts by the close of 2020, with many more in sight for future development over the next decade.
A mega project of massive proportions, set to cover 28,000 km2 on completion, it aims to attract tourists to Saudi’s western coast, and is expected to increase Saudi’s GDP by USD 5.86 billion per year.
Set to include islands, beaches, desert, mountains and volcanic areas, the first phase is expected to be completed by 2022 when 3,000 hotel rooms will be constructed along with an airport, marina and recreation centers.
Neom is Saudi Arabia’s most futuristic and innovative residential and tourism development endeavor. It is described as an “attempt to do something that’s never been done before” on the project’s official site.
To support this joint tourism and residential venture, there will be multiple international investments pouring in, and the world’s best business acumen forging partnerships for the site’s development. In addition to new technological feats, such as artificial moons, theme parks with life-size robotic dinosaurs, and other forms of automation, eco-friendliness is a major focus for Neom’s development.
The site will also see the construction of a renewable energy infrastructure, health and wellness facilities, and processing plants for clean water production.
A Public Investment Fund-supported project, Amaala is set to begin construction in 2020, and will see development right through to 2028. International expertise on this project will see the development of luxury resorts, as well as office and entertainment spaces.
As a mixed-use development, it will also see diverse projects come up throughout the year and beyond, predominantly focused on art, culture, and wellness. Development phases over the eight-year period include the construction of solar energy infrastructure, and waste management facilities to support the sustainability of the entire 3,800 square kilometer area.
Now is an excellent time to set your reputation as an innovative, forward-thinking company that can be commissioned for the full completion of tourism projects in the Kingdom. With so many lucrative opportunities, make sure to keep up with site development announcements and other upcoming construction contracting opportunities in Saudi Arabia.
To learn more about how Binex can help support you in the construction of the Kingdom’s leading tourism projects, get in touch with us here.