New groundbreaking projects to appear in Saudi Arabia

Nowadays hardly can anyone be amused by mind blowing real estate projects, ripening like so many cherries on a tree every here and there. Every administration unit, every state and every country understands the opportunities and advantages that new investments can bring to the economic prosperity of the region.

The Saudi Arabian government seems to understand that in full. That’s why they decided to Increase government spending and progress in developing large-scale projects. The kingdom is going to invest billions in new buildings, transportation and mobile circuits, etc.

Here are some of the planed projects:

·        Neom –the largest and astounding projects assumes an investment of $ 500 billion. The project, which, is a futuristic city of the future will occupy 26,500 square kilometers of the Red Sea coast with flying taxis, maid robots and new scientific developments in human safety and health field. The completion date is 2025.

·       The new entertainment city Qiddiya, 45 km from the capital of Saudi Arabia, Riyadh, will be completed by 2030. Planned investments - $ 8 billion.

·       Another city of Ad Diriyah on 7 sq. km will include many cafes, restaurants, museums and other institutions. Construction work will begin in early 2020, with an estimated investment of $ 17 billion.

But this is only the beginning in the hot pursuit for investments. Other giga-projects, that the rest of the world may see include the luxury resort of Amaala (2028), the world's tallest tower Jeddah Tower ($ 1.4 billion, 2021), Jeddah metro ($ 60 billion, 2025), the world's largest multifunctional shopping center Riyadh ($ 5 billion, 2021), expansion of the largest medical complex in the capital, King Fahad Medical City ($ 14 billion, 2021), King Salman Park ($ 23 billion, 2025).