Top Real Estate Development Company in Saudi Arabia (2025 Review)
Real estate development in Saudi Arabia is undergoing a historic transformation, fueled by the Kingdom’s Vision 2030 plan to diversify its economy beyond oil. As of 2024, real estate activities contributed nearly 6.4% to Saudi Arabia’s non-oil GDP, signaling the sector’s growing influence on national development.
The government, through the Public Investment Fund (PIF), is investing billions in large-scale urban, cultural, and tourism projects, many of which aim to redefine global benchmarks in sustainability and smart city design.
This article reviews the most ambitious real estate developments shaping Saudi Arabia’s future, offering insight into how architecture and planning are driving a national renaissance.
Top Real Estate Development Company in Saudi Arabia
Here, we listed the top real estate development company in Saudi Arabia, including Red Sea Global, Emaar The Economic City, Dar Al Arkan, Saudi Binladin Group, and Misk Real Estate.
1. Red Sea Global
Location: Jeddah, Saudi Arabia
Red Sea Global is one of Saudi Arabia’s most ambitious and visionary developers, responsible for the Red Sea Project, a mega-tourism initiative that spans over 28,000 square kilometers of pristine coastline. The project includes luxury resorts, residential units, and entertainment destinations built with a focus on sustainability and nature preservation. Red Sea Global aims to position Saudi Arabia as a global tourism hub with its high-end, eco-conscious developments.
Notable Projects:
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The Red Sea Project
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Amaala (luxury tourism destination)
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The Oxagon (floating city concept)
2. Emaar The Economic City
Location: Jeddah, Saudi Arabia
Emaar The Economic City is a subsidiary of Emaar Properties and focuses on large-scale developments that integrate residential, commercial, and leisure facilities. The flagship project is the King Abdullah Economic City (KAEC), a master-planned city designed to boost Saudi Arabia’s economic diversification by attracting businesses, residents, and tourists. KAEC is designed to house over 2 million people and provide a new model for urban living.
Notable Projects:
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King Abdullah Economic City (KAEC)
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Bay La Sun Resort & Marina
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The Walk and The Marina
3. Dar Al Arkan
Location: Riyadh, Saudi Arabia
Dar Al Arkan is a leading real estate development company known for its residential, commercial, and mixed-use projects across Saudi Arabia. With a focus on high-quality urban developments, Dar Al Arkan is one of the most recognized developers in the country. The company combines modern architecture with cultural elements to create desirable communities.
Notable Projects:
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Shams Al Riyadh (residential community)
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Jumeirah Golf Estates (luxury community)
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Al Qasr (luxury villas)
4. Saudi Binladin Group
Location: Jeddah, Saudi Arabia
Saudi Binladin Group is one of the largest construction and real estate development companies in the Middle East. While the company has a diverse portfolio, it is especially known for its large-scale infrastructure and urban developments. It has contributed significantly to shaping Saudi Arabia’s modern skyline with commercial, residential, and mixed-use projects across the kingdom.
Notable Projects:
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King Abdulaziz International Airport Expansion
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Mekkah Grand Mosque Expansion
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Jeddah Tower (formerly Kingdom Tower)
5. Misk Real Estate
Location: Riyadh, Saudi Arabia
Misk Real Estate, a subsidiary of the Misk Foundation, focuses on innovative, sustainable urban developments that align with Saudi Arabia’s Vision 2030. The company emphasizes creating smart cities, high-quality residential spaces, and integrating new technologies into urban planning. Its approach to development aims to support social infrastructure and enhance quality of life for future generations.
Notable Projects:
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Misk City (a smart city concept in Riyadh)
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Al Murjan Residential Complex
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The View Tower
Top Real Estate Development Project in Saudi Arabia
Here are some of the most significant real estate developments currently underway in Saudi Arabia, aligned with the Kingdom’s Vision 2030 economic diversification strategy. These projects are notable for their scale, investment value, and potential impact on urban planning, tourism, and infrastructure.
1. Rise Tower (North Pole Project)
Location: Riyadh, Saudi Arabia
Developer: Public Investment Fund (PIF)
Estimated Value: $5 billion
Rise Tower is a proposed 2,000-meter skyscraper designed by Foster + Partners, intended to be the tallest building globally. It will serve as the centerpiece of the “North Pole” megaproject, a 300 km² urban development integrating residential, commercial, and industrial zones. The project emphasizes sustainability, incorporating renewable energy and advanced transportation systems. As of now, no official launch date has been announced.
2. The Mukaab (New Murabba District)
Location: Riyadh, Saudi Arabia
Developer: New Murabba Development Company (backed by PIF)
Estimated Value: $50 billion
The Mukaab is a planned 400-meter-high cubic structure, envisioned as the world’s largest building by volume. It will house residential units, hotels, retail spaces, and cultural venues. The design draws inspiration from traditional Najdi architecture and aims to create immersive experiences using digital technologies. Completion is targeted for 2030.
3. Jeddah Central Project
Location: Jeddah, Saudi Arabia
Developer: Jeddah Central Development Company (a PIF subsidiary)
Estimated Value: $20 billion
Covering 5.7 km², the Jeddah Central Project aims to transform the city’s waterfront with residential units, hotels, cultural venues, and recreational spaces. The development is planned in three phases, with the first phase expected to be completed by the end of 2027. The project is projected to create 25,000 jobs and contribute over $12.5 billion to Saudi Arabia’s GDP by 2030.
4. Jeddah Economic City (including Jeddah Tower)
Location: Jeddah, Saudi Arabia
Developer: Kingdom Holding Company
Estimated Value: $30 billion
Jeddah Economic City is a mixed-use development spanning approximately 56 million square feet. Its centerpiece is the Jeddah Tower, intended to surpass 1,000 meters in height, which would make it the tallest building globally upon completion. The project includes residential, commercial, and hospitality components, with an expected completion around 2030.
5. Soudah Peaks
Location: Al Soudah, ‘Asir Province, Saudi Arabia
Developer: Soudah Development Company (a PIF subsidiary)
Estimated Value: $7.7 billion
Soudah Peaks is a planned mountain tourism destination situated at an elevation of 3,015 meters, making it the highest point in Saudi Arabia. The project spans 627 km² and aims to develop luxury resorts, residential units, and recreational facilities. It is expected to attract 2 million annual visitors by 2033 and contribute significantly to the local economy.
6. NEOM (Including The Line, Trojena, Oxagon, Sindalah)
Location: Tabuk Province, Saudi Arabia
Developer: NEOM Company (backed by the Public Investment Fund)
Estimated Value: $500 billion
NEOM is a planned cross-border city in the Tabuk Province of northwestern Saudi Arabia. Key components include The Line, a 170 km linear city designed for sustainable living; Trojena, a mountain tourism destination; Oxagon, an industrial city; and Sindalah, a luxury island resort. The project aims to incorporate smart city technologies and function as a tourist destination. NEOM is a central part of Saudi Arabia’s Vision 2030 plan to diversify its economy.
7. Diriyah Gate
Location: Diriyah, near Riyadh, Saudi Arabia
Developer: Diriyah Gate Development Authority
Estimated Value: $63.2 billion
Diriyah Gate is a cultural and heritage development project aiming to transform the historic city of Diriyah into a world-class cultural destination. The project includes the restoration of the UNESCO-listed At-Turaif District, the construction of over 30,000 residential units, luxury hotels, retail spaces, and cultural institutions. It is part of the broader Vision 2030 initiative to promote cultural tourism and economic diversification.
8. Red Sea Global (The Red Sea Project)
Location: Red Sea coast, Saudi Arabia
Developer: Red Sea Global (formerly The Red Sea Development Company)
Estimated Value: $23.6 billion
The Red Sea Project is a luxury tourism development encompassing an archipelago of over 90 islands, desert landscapes, and mountain terrains. The project focuses on sustainable tourism, aiming to run entirely on renewable energy and set new standards in environmental conservation. It includes the development of hotels, residential properties, and leisure facilities, with completion targeted by 2030.
9. Qiddiya
Location: Southwest of Riyadh, Saudi Arabia
Developer: Qiddiya Investment Company (backed by the Public Investment Fund)
Estimated Value: $9.8 billion
Qiddiya is envisioned as Saudi Arabia’s capital of entertainment, sports, and the arts. The development includes a Six Flags theme park, motorsport facilities, water parks, and cultural venues. It aims to provide a wide range of entertainment options to residents and tourists, contributing to the Kingdom’s Vision 2030 goals of economic diversification and social development.
10. Masar Destination
Location: Mecca, Saudi Arabia
Developer: Umm Al Qura for Development & Construction
Estimated Value: Approximately $27 billion
Masar Destination is an urban development project in Mecca designed to enhance the infrastructure and services for pilgrims. The project includes hotels, residential units, commercial spaces, and cultural centers. It aims to increase Mecca’s capacity to accommodate pilgrims, aligning with the Vision 2030 objective of hosting 30 million pilgrims annually by 2030.
11. Roshn Residential Communities
Location: Multiple cities across Saudi Arabia
Developer: Roshn (a Public Investment Fund-backed company)
Estimated Value: Not publicly disclosed
Roshn is a national real estate developer focusing on developing integrated residential communities across Saudi Arabia. The projects aim to provide high-quality housing options, including over 400,000 residential units, along with essential amenities like schools, mosques, and retail outlets. This initiative supports the Vision 2030 goal of increasing homeownership rates among Saudi citizens.
12. King Salman Park
Location: Riyadh, Saudi Arabia
Developer: King Salman Park Foundation
Estimated Value: Not publicly disclosed
King Salman Park is an urban development project aiming to create one of the largest city parks in the world, covering an area of over 13 square kilometers. The park will feature green spaces, cultural venues, sports facilities, and entertainment areas. It is designed to enhance the quality of life for Riyadh’s residents and promote environmental sustainability, in line with Vision 2030 objectives.
13. Raffles Residences Jeddah
Location: Jeddah Corniche, Jeddah, Saudi Arabia
Developer: Kingdom Holding Company
Estimated Value: Not publicly disclosed
Raffles Residences Jeddah is a luxury waterfront development comprising a 46-story tower with hotel rooms, apartments, and penthouses. The residences offer sea views and high-end finishes, with amenities including private gyms, swimming pools, and wellness facilities. The project aims to set new standards for luxury living in Jeddah and is expected to be completed in the fourth quarter of 2024.
These developments represent key components of Saudi Arabia’s efforts to diversify its economy and enhance its global standing in various sectors, including tourism, real estate, and infrastructure.
Resources: aaup | estateagentpower | experienceuk | resident | constructionweekonline | realestatesaudi