Vision 2030 Anchor Projects Hit SR71.3bn in Q2 2026

Anchor construction and development projects tied to Saudi Vision 2030 reached SR71.3 billion in awarded value during the second quarter of 2026, reinforcing the construction sector's role as a key driver of the Kingdom's non-oil economy.

The Q2 2026 total marks a 42% jump from the first quarter, when awarded projects stood at around SR30.2 billion. Activity built up steadily through the quarter: April recorded SR11.8 billion in awarded value, followed by a sharp rise to SR30.0 billion in May and SR29.5 billion in June.

Momentum continued beyond the quarter. By early September 2026, cumulative projects awarded since the start of the year reached SR111.3 billion across 97 projects. During the same period, non-oil and government activities grew 0.9% year-on-year, with several construction-related sectors posting higher rates.

Infrastructure drives growth

Several major infrastructure and public-private partnership projects supported the quarter's totals. These included the Rabigh 2 Power Plant, valued at roughly SR11.3 billion, the Riyadh Road Development Programme at about SR9.8 billion, data centre investments of around SR7.5 billion, and a healthcare PPP programme of about SR3.8 billion.

Anchor projects linked to construction-driven diversification include NEOM, Qiddiya, the Red Sea Project, Diriyah Gate, Jeddah Central, New Murabba, ROSHN, Rua Al Madinah, King Salman Park and the Riyadh Metro. Some components have seen scope adjustments or timeline changes through 2025 and 2026, including the suspension of NEOM's The Line segment, while other phases continue under construction.

For residents and businesses across Riyadh, Jeddah and beyond, the sustained pace of awards signals ongoing job opportunities, new housing and transport infrastructure, and continued economic diversification under Vision 2030.

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