List of Economic Projects Launched by Prince Mohammed Bin Salman

The Crown Prince and Prime Minister, His Royal Highness Prince Mohammed Bin Salman Bin Abdulaziz Al Saud, launched NEOM Project in 2017, as one of the megaprojects of the Public Investment Fund (PIF). The project offers exceptional opportunities, enjoys a major investment capacity exceeding USD500 billion, and is uniquely located between three continents.

The NEOM project is strategically located on the Red Sea and the Gulf of Aqaba, covering a total area of 26,500 km. Relying solely on renewable sources of energy, it embodies three key objectives: an exceptional living, a thriving business environment, and a reinvention of the concept of sustainability. NEOM has five regions, namely, Sindalah, The Line, Oxagon, Trojena, and Magna.

On December 5, 2022, Prince Mohammed Bin Salman announced the development of Sindalah Island in the Red Sea, covering an estimated area of 840,000 m. It is designated as the primary gateway for Red Sea cruises, marking the inaugural luxury maritime destination within NEOM and forming part of a cluster of islands slated for development in NEOM.

In early 2021, Prince Mohammed Bin Salman initiated ‘The Line’ project, expressing his dedication to the Saudi populace and their welfare. This smart city prioritizes people and aims to fulfill all their needs without causing harm to the surrounding environment. The city can accommodate nine million residents. It spans 170 km in length, with a width of two hundred m and a height of five hundred m above sea level. The Line preserves 95 percent of the natural landscape in NEOM lands.

The Line is projected to create 380,000 jobs and contribute SAR180 billion to the Gross Domestic Product (GDP) by 2030. It fully relies on renewable energy sources, making it a leading global model for sustainability, ideal living conditions, and harmony with nature.

On November 16, 2021, Prince Mohammed Bin Salman announced the launch of the industrial city 'Oxagon.' It presents a new model for future manufacturing centers, redefining the way humanity lives and works in the future.

On March 3, 2022, Prince Mohammed bin Salman launched 'Trojena,' the global destination for mountain tourism. It integrates natural and urban landscapes, providing experiences centered around people for both residents and visitors. Comprising six districts, Trojena converges reality with engineering innovations and virtual architectural art, establishing itself as a unique destination.

This project represents the coastal tourism destination located along the Gulf of Aqaba. It features twelve tourist destinations, including:

On October 15, 2023, the development of Leyja was announced as an upcoming tourist destination. It houses three hotels and upscale facilities located within a natural oasis amidst valleys and mountains. It aims to offer tourist and sport experiences, exploratory adventures, and a wide array of services.

On November 15, 2023, the development of Epicon was announced. It is a luxurious tourist destination that features unique facilities designed upon considering the concepts of sustainability and innovation, harmonizing with its location on the Gulf of Aqaba.

On November 29, 2023, NEOM announced the Siranna destination to be a modern tourist destination within NEOM destinations. Located on the coast of the Gulf of Aqaba, Siranna provides a model for luxurious beachfront living, embodying NEOM's commitment to the principles of sustainability and nature preservation.

On December 13, 2023, the development of Utamo, a destination designed to provide a wide range of arts and entertainment experiences, was announced as an optimal destination for hosting innovative events and activities and accommodating international artists.

On December 27, 2023, the launch of Norlana was announced—a residential complex designed in the latest style and dedicated to rejuvenating and health activities. Located on the coast of the Gulf of Aqaba, Norlana offers a unique environment within a complex that accommodates three thousand residents. It is equipped with the latest technologies to support a sustainable and healthy life.

On January 10, 2024, the  Aquellum Destination was announced, a destination located within a mountain range that rises to 450 m, and drawing inspiration from the lifestyle of the future, was announced. It shall serve as an underground digital future community.

On January 24, 2024, Zardun Destination was revealed as a resort featuring four ultra-luxury buildings, designed to harmonize with the surrounding landscape. It stands out as a unique location where luxury seamlessly integrates with the natural environment.

On February 7, 2024, Xaynor Destination was announced. Xaynor Resort aims to attract visitors seeking an ultra-luxury tourism experience. Its unique position on the beach makes it an extraordinary destination, offering exclusive experiences that set it apart.

Elanan Destination was revealed on February 21, 2024. It is located in a location where mountains meet the sea, overlooking a green oasis nourished by ancient natural springs in the area. The resort includes eighty rooms and private suites, focusing on enhancing a luxury lifestyle.

Announced on March 6, 2024, it is a coastal entertainment destination dedicated to the golf community, featuring a suspended structure at its center. Facing the beach, the structure showcases architectural ingenuity. The building houses 190 sea-view apartments and offers a variety of tourist experiences.

Announced on March 20, 2024, the resort is located at the crossroads of desert landscapes and the turquoise waters of a lake at the southern tip of the Gulf of Aqaba. It features an innovatively designed resort, highlighted by a 450-m-long bridge that connects the northern and southern shores of the lake, offering stunning views of the natural surroundings from a lofty vantage point.

Announced on May 8, 2024, it includes a marine science center and an international school, featuring facilities that harmonize with the diverse surrounding natural terrain on the coast of the Gulf of Aqaba. It has a capacity of approximately six thousand residents, comprising around five hundred residential apartments overlooking the marina, and about seven hundred villas.

On January 9, 2023, Prince Mohammed Bin Salman announced the incorporation of the Diriyah Project as the fifth megaproject owned by PIF in addition to the NEOM, Red Sea, Qiddiya, and ROSHN projects, ultimately placing it as one of the globally unique projects. The project houses several cultural and heritage landmarks, such as At-Turaif District.

On February 16, 2023, Prince Mohammed Bin Salman announced the launch of the New Murabba Project, becoming the world's largest modern downtown in the heart of Riyadh. It aims to elevate the quality of life, featuring an innovative museum, a specialized university in technology and design, a versatile integrated theater, and over eighty areas for live shows and entertainment.

On September 25, 2023, Prince Mohammed Bin Salman announced the masterplan for the development project in Al-Soudah and parts of the Rijal Alma Governorate, known as 'Soudah Peaks.' The goal is to develop a luxurious mountainous tourist destination at the highest peak in Saudi Arabia, reaching an elevation of 3,015 m above sea level. It is located in the unique natural and cultural environment of Aseer Province, southwest of Saudi Arabia.

Prince Mohammed Bin Salman placed significant focus on the tourism industry, with the Red Sea Project emerging as a prominent and distinctive international tourism project. Launched on July 31, 2017, the project spans the most stunning and varied landscape between the cities of Umluj and Al-Wajh, covering 28,000 km of untouched terrain and lakes. Encompassing an archipelago of over ninety islands, the project features hotels, residential units, historical, heritage, and cultural landmarks, as well as entertainment projects.

The vision of Prince Mohammed Bin Salman highlights the strengths of Saudi Arabia. Amaala project, launched on September 26, 2018, is an ultra-luxurious tourist destination on the Red Sea coast.

Amaala offers exceptional experiences that combine art, culture, and physical health. Spanning 4,155 km, it houses Triple Bay, the Coast, and the Island. It offers over nine hundred residences and three thousand hotel rooms, and targets over five hundred thousand visitors annually.

Prince Mohammed Bin Salman focused on fostering strategic partnerships with the private sector and investors. On August 19, 2020, the PIF launched ROSHN, a real estate company specializing in urban neighborhoods development. It seeks to develop high-quality residential neighborhoods that meet the aspirations of Saudi society. It leverages opportunities available in the real estate market and contributes to increasing citizens' homeownership rate to 70 percent, achieving the objectives of Saudi Vision 2030. ROSHN projects cover over two hundred million m across Saudi Arabia.

Saudi Vision 2030 is propelling diverse sectors forward, providing enriching experiences and opportunities that enhance life in every dimension. Notably, the entertainment sector has undergone a significant transformation with the initiation of the Qiddiya project on April 7, 2017, led by the PIF. This project encompasses the Six Flags Qiddiya City, Jack Nicklaus Championship Golf Course, Qiddiya Stadium, a water theme park, and the Speedpark Track.

On December 7, 2023, Prince Mohammed Bin Salman launched the urban plan for Qiddiya City and its global brand.

Prince Mohammed Bin Salman has attached utmost importance and attention to historical mosques given their eminent status in Islamic history. In November 2018, he launched an ambitious project for the renovation and restoration of 130 mosques in several regions of Saudi Arabia.

Prince Mohammed Bin Salman has presented an inspiring model for the development of the non-profit sector globally, by launching the world’s first non-profit city on November 14, 2021. It hosts local and international youth groups, volunteers, and non-profit institutions. Moreover, it provides opportunities, training programs, and an array of services, creating an attractive environment for the beneficiaries of the activities it offers.

Through Saudi Vision 2030, Prince Mohammed Bin Salman committed to preserving and safeguarding natural and human heritage, taking an interest in launching the world’s largest living museum by announcing the design vision for the ‘Journey Through Time Masterplan' as part of AlUla development program on April 07, 2021. This reflects his substantial and ongoing interest in showcasing Saudi Arabia's culture to the world.

In line with Prince Mohammed Bin Salman’s efforts to develop Saudi Arabia's provinces, building on the comparative and competitive advantages of each, he announced, on October 3, 2022, the launch of the ‘Saudi Downtown’ Company to establish and develop urban centers and diverse destinations in twelve cities. This aims to develop city infrastructure and strengthen strategic partnerships with the private sector and investors by providing several new investment opportunities in the business, shopping, tourism, entertainment, and housing sectors.

Prince Mohammed Bin Salman has reaffirmed his commitment to developing and diversifying the Saudi economy while improving the investment climate. On April 13, 2023, he unveiled the launch of four special economic zones in Riyadh, Jazan, Ras Al-Khair, and King Abdullah Economic City, located north of Jeddah. These zones leverage the competitive advantages of each region to bolster vital and promising sectors such as logistics, industry, technology, and other priority sectors.