Saudi Arabia has awarded contracts worth $196 billion to develop its commissioned giga projects, up 20 per cent on 2024, with the increase driven by real estate and infrastructure work amid a shift from planning to execution. The total value of projects in the pipeline in the kingdom currently stands at $80 billion, Knight Frank said in its fourth annual Saudi Arabia Giga Projects report released on Monday.

Riyadh is at the centre of the national economic transformation, with landmark developments such as Diriyah Gate, King Salman Park and Sports Boulevard redefining the city’s skyline.

The Saudi capital accounted for 63 per cent of all new jobs created in the kingdom since 2019. Projects worth more than $237 billion have been announced across the real estate, infrastructure and transport sectors since 2016, with $44 billion already awarded in construction contracts, the report found.

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