MADINAH — Madinah is witnessing a major development and investment drive, with 280 projects worth approximately SR200 billion currently underway across 12 sectors, according to a report issued by the Madinah Chamber of Commerce.

The commercial sector accounts for the largest share of these projects, with 206 projects, representing nearly 80 percent of the total. The scale of investment highlights Madinah’s growing economic activity and its expanding role as a major commercial and investment hub.

Of the 280 projects, 250 are being developed by the private sector, while 20 are government projects and 10 are classified as semi-government projects.

The projects are expected to generate more than 125,000 direct and indirect jobs, supporting the local labor market and creating greater employment opportunities for Saudi citizens. They are also expected to increase the participation of national talent in the region’s economic development.

The commercial sector leads the projects with 206 developments, followed by commercial residential projects with 25. The health sector accounts for 11 projects, while the residential sector has 10 and education has eight.

Other projects include five in the religious sector, four in tourism, six related to public facilities and three in corporate services. Entertainment and agriculture each account for one project.

The report said the major development projects cover more than 30 million square meters, reflecting the scale of urban expansion taking place across Madinah and changes in land use aimed at supporting sustainable growth.

The ongoing development is also intended to improve public services and meet the increasing demand generated by Hajj and Umrah pilgrims and other visitors. These efforts support the Kingdom’s goal of welcoming 30 million visitors annually by 2030.

According to the report, the size of the investments and projects is expected to have a significant impact on both Madinah’s economy and the wider national economy. The developments also reflect the objectives of Saudi Vision 2030 to transform Madinah into an advanced economic center and an attractive destination for local and international investors.

Madinah continues to offer investment opportunities across several sectors, including construction, transportation and logistics, trade, tourism, hospitality, catering and restaurants. The region also has potential in emerging sectors expected to benefit from population growth, tourism and increasing economic activity.

Source:Saudi Gazette