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Saudi Giga Project Spend Falls, Hotel Builders Push Ahead
financeSkift··1 min·For: Investor, Owner, GM

Saudi Giga Project Spend Falls, Hotel Builders Push Ahead

Saudi Arabia's giga project contract awards have declined to $10.6 billion this year amid Neom scale-backs, yet hospitality development remains active. Current spending is shifting toward tourism hubs like Qiddiya and Diriyah.

Key Takeaways

  1. 1Giga project awards dropped from a 2023 peak of $31.7B to $10.6B year-to-date
  2. 2Giga projects historically account for only 17% of total Saudi construction spending
  3. 3Remaining capital is prioritizing active tourist destinations like Diriyah and Qiddiya

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Source: Skift

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