Page 19 - CAREPOINT GLOBAL BUSINESS PLAN

SAUDI MEGA PROJECTS

Saudi Arabia is the Middle East’s largest construction site. There are more than 80 mega projects, each worth

at least USD 1 billion, being built or planned for construction by 2030.

EOM: The SAG plans to build this USD 500 billion mega-city that will measure 10,230 square miles in Tabuk,
Saudi Arabia, close to the border region of Saudi Arabia and Egypt. NEOM will reportedly run on 100%

renewable energy. In 2018, the Kingdom started awarding contracts to build palaces at the NEOM development
site.

King Abdullah Economic City in Rabigh: Positioned on the Red Sea north of Jeddah, this project is valued at USD

27 billion. The master developer is Emaar.

The Economic City in Rabigh includes a port and logistics, financial center, industry, and services. It is estimated
that two million people will reside there and that one million jobs will be created.

The Knowledge Economic City in Madinah: This USD 7 billion project across 4.8 million square miles will create
20,000 new jobs and be home to approximately 200,000 people. It will include an education-entertainment
Islamic theme park, shopping complex, hotels and public transport. The master developer is Quad International.

Jazan Economic City: This project focuses on heavy industry and agribusiness in the southwest of the Kingdom,
and covers 100 million square miles. The USD 27 billion city will bring 500,000 new jobs and a population of
250,000. Two- thirds of the city will be industrial parks, and it will also provide a seaport.

King Abdullah Bin Abdul-Aziz Security Forces Medical Complexes: These two separate medical cities for
security forces are being developed in Riyadh and Jeddah on behalf of the Kingdom’s Interior Ministry. This is
KSA’s largest medical project, and the largest medical project in the GCC. Project value is estimated USD 6.7

billion.

Saudi Land bridge: The USD 7 billion Red Sea-Gulf rail line is an integral part of the GCC’s connected rail
network. Italferr has been awarded a USD 37 million contract by the Saudi Railways Company (SAR) to design
the Land bridge – a 950-kilometer line between Riyadh and Jeddah, and a second 115-kilometer line between

Dammam and Jubail. Transit times for freight between Jeddah and Dammam will be reduced to 18 hours,
compared with the current sea voyage of five to seven days, with capacity for eight million tons of freight a year.

Jubail II: This 22-year industrial project is getting an USD80 billion expansion and will double the population of

the area. When completed, it will be composed of 100 industrial plants, an 800,000 cubic meter desalination
plant; miles and miles of railways, roads and highways; and an oil refinery producing at least 350,000barrels per
day. The entire project is slated to be finished in 2024.