Dammam is getting a new shoreline, a SAR 98 bn (USD 26 bn) seaside urban development in Dammam spanning 32 mn sqm with a 26 mn sqm of net area, state news agency SPA reported on Monday. The project, called New Dammam, is being developed by Adel Real Estate in partnership with Alinma Investment.

The blueprint: The masterplan outlines eight residential districts with 15.8k housing units, 5.2k investment plots, 1.4k commercial plots, 322 waterfront villas, 49 parks, and a range of recreational destinations. Water features will cover more than 5 mn sqm, alongside maritime canals and over 500k sqm of green space.

Why it matters

Dammam is positioning itself as the release valve for a saturated Riyadh. With the capital facing a five-year rent freeze and infrastructure pressure, New Dammam — expected to support 80k jobs and 180k residents — represents a pivot for private developers seeking higher yields in the Eastern Province.

This isn’t an isolated project. It’s part of a cluster — including the SAR 650 mn Global City and Arasco’s SAR 200 mn logistics hub — that signals Dammam’s transition from an oil-service center into a more diversified regional capital.

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