Saudi Arabia has emerged as one of the world’s leading hubs for large-scale development, recording a 643% increase in mega-projects over the past 15 years, according to a new report by UK-based consultancy and construction firm Mace.

The Kingdom’s total number of mega-projects has surged from just 64 in 2010 to 476 by 2025, placing it among the top three countries globally in terms of volume.

The report, titled The Future of Major Programme Delivery, defines mega-projects as those valued at $1 billion or more, while giga-projects are classified as projects worth $10 billion or more.

Saudi Arabia currently shares second place with India for the number of giga-projects, with each country hosting 43 such developments. The United States ranks first globally, with 88 active or completed giga-projects.

Overall, the United States tops the rankings for combined mega and giga-projects with 1,663, followed by India (729), Saudi Arabia (577), and the United Kingdom (484). The United Arab Emirates ranks seventh with 233 projects.

The surge in Saudi Arabia’s project portfolio is driven by the country’s ambitious Vision 2030 agenda, which aims to diversify the economy and reduce reliance on oil. Flagship initiatives under this vision include NEOM, The Red Sea Project, Diriyah, Qiddiya, King Salman International Airport, and New Murabba.

Mace’s report offers a sectoral breakdown of the Kingdom’s mega-projects, with energy and utilities leading at 178 projects. This is followed by commercial and leisure (110), infrastructure (75), residential buildings (71), and both industrial and institutional sectors, each with 42 projects.

The report also highlights Saudi Arabia’s strong performance in project delivery, particularly in the energy and utilities sector.

The Kingdom ranks among the most efficient globally in this category, with average delivery timelines of under nine years from announcement to completion, comparable to the United States, Hong Kong, and the Philippines. Residential building projects average around eight years, while infrastructure projects typically take longer, averaging 12 years.

Despite this rapid expansion, the report notes that Saudi Arabia has the sixth-highest proportion of stalled mega-projects since 2010, highlighting the inherent complexity of delivering large-scale developments.