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Neom terminates multi-bn USD Trojena lake contracts
Construction at the USD 19 bn resort stalls at 30% completion following the loss of the 2029 Asian Winter Games…
Hormuz choke + oil volatility is forcing a new construction calculus
The situation has left contractors unable forecast future costs, triggering high risk premium bids and a reliance on contractual relief…
Data centers dominate project awards in January
Just six projects worth more than SAR 3 bn were awarded in December 2025
Hassan Allam’s Grova Developments establishes footprint in Riyadh with SAR 3.3 bn project
The project will feature more than 3k units across 228k sqm in Riyadh.
Work on New Murabba’s flagship Mukaab suspended, Reuters reports
The pause underscores a broader government-led recalibration of megaproject timelines and scopes.
Masar Destination construction is back on + A USD 200 mn battery material plant from Northern Graphite
PLUS: PIF partners with RSAH to build aluminum complex in Yanbu
Gigaproject spending slows as focus shifts to Riyadh, real estate financing -Meed
Government budget strain spurs growth of private sector financing in mega-projects
Almoosa Health awards construction contract for Alkhobar hospital
Excavation and site leveling are already complete, with construction now ready to kick off
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