Saudi Arabia’s Major Urban Projects: NEOM, ROSHN, Qiddiya and New Murabba

Saudi Arabia’s large developments are often grouped together under the label “giga-projects”. That shorthand can hide important differences. NEOM is a regional development in the northwest; ROSHN Group builds integrated communities in several cities; Qiddiya City is being developed around entertainment, sport and culture near Riyadh. Each has its own company, purpose and delivery timetable.

Riyadh and the wider housing market

ROSHN’s communities combine homes with the everyday infrastructure that makes a neighbourhood work: schools, parks, shops and services. In Riyadh, New Murabba Development Company has a different brief: a mixed-use downtown district planned around places to live, work and visit. Qiddiya, southwest of the capital, adds a destination centred on leisure and sport. These are distinct developments, not interchangeable names for one investment opportunity.

Beyond Riyadh: NEOM, regional downtowns and Al-Khafji

NEOM covers a much larger region on the Red Sea in northwestern Saudi Arabia, with separate planned destinations and economic activities. Meanwhile, Saudi Downtown Company is working on downtown destinations in 12 cities, including Al-Ahsa, Al-Khobar, Taif and Tabuk. Its role matters because urban investment is not confined to the capital.

On 7 September 2026, PIF announced Gulf Coast Development Company to develop a residential and tourism destination on the Al-Khafji coast. The official announcement describes an approximately 20-square-kilometre site and a 10-kilometre waterfront. This is the Al-Khafji development company sometimes referred to informally by the location; its announced name is Gulf Coast Development Company.

Where does Rise Tower fit?

Rise Tower is often mentioned in discussions about a proposed supertall tower in Riyadh. It should not be presented as a completed building, or as one of PIF’s confirmed giga-projects on the strength of online renderings. PIF’s published giga-project list identifies NEOM, ROSHN and Qiddiya, among others, but does not list Rise Tower. Its developer, scope and timetable need direct confirmation before they can be treated as established facts.

What this means for a property buyer or investor

Major master plans can create demand for homes, workplaces, hospitality and services. They do not, by themselves, establish the value or returns of any particular property. For a fractional ownership opportunity on Ghanem, check the specific asset, legal structure, developer, delivery stage, fees, risks and exit terms. A project name in a sales pitch is context, not evidence that the opportunity is backed by PIF or connected to that project.

Sources checked 7 October 2026. This is an independent overview based on the linked PIF publications. Ghanem does not claim an affiliation with the projects named here.