Under the patronage of His Royal Highness Prince Saud bin Nayef bin Abdulaziz Al Saud, Governor of the Eastern Province, the region witnessed the launch of the “New Dammam” project, a landmark in the Kingdom’s urban development. This massive project, developed by Adl Real Estate Company and managed by Alinma Financial, represents a strategic step reflecting the future directions for developing Saudi cities. It solidifies modern urban planning concepts in line with the objectives of the Kingdom’s Vision 2030 and enhances the quality of life and sustainable urban growth in the Eastern Province.
An ambitious national context: The project is part of Vision 2030
The launch of the “New Dammam” project falls within the framework of the comprehensive national transformation led by the Kingdom’s Vision 2030, which aims to diversify the sources of the national economy and improve the quality of life for citizens and residents. In this context, the Kingdom is witnessing an unprecedented urban renaissance embodied in mega-projects such as NEOM, the Red Sea Project, and Qiddiya, all of which seek to reshape the urban and economic landscape. “New Dammam” adds a new dimension to this renaissance in the Eastern Province, which is the beating heart of industry and energy in the Kingdom, thus reinforcing its position as a vital economic hub and an attractive destination for talent and investment.
A unique civilizational shift on the Arabian Gulf coast
The “New Dammam” project represents a unique urban transformation, embodying the Kingdom’s vision of integrating residential, commercial, and recreational spaces within a comprehensive environment that enhances the quality of life. Spanning a total area of approximately 32 million square meters, with a net area of 26 million square meters, the project enjoys a prime strategic location on the Dammam waterfront. It boasts a range of distinctive features, including over 5 million square meters of water features, vibrant canals that enhance the urban and touristic character, and expansive green spaces exceeding 500,000 square meters, contributing to a harmonious urban environment that balances urban development with natural elements.
Widespread economic and social impact
The project is expected to have a significant economic and social impact at both the local and regional levels. Direct investments in the project are estimated at approximately SAR 18 billion, with indirect investments reaching around SAR 80 billion, thus enhancing Dammam's appeal as a major economic and tourist hub in the region. The project is projected to create more than 80,000 direct and indirect jobs and attract over 180,000 residents upon completion, thereby boosting the local economy and contributing to sustainable development. Internationally, the project opens new avenues for attracting foreign direct investment in the real estate, tourism, and entertainment sectors.
Integrated components and strategic location
The “New Dammam” master plan includes eight residential neighborhoods comprising 15,791 residential plots, 5,210 investment plots, 1,389 commercial plots, 322 waterfront villas, and 49 parks and diverse recreational facilities. The project boasts a strategic location at the crossroads of major highways and roads, such as the Crown Prince Axis, the Gulf Road, and King Abdulaziz Road, facilitating easy access from various neighborhoods in Dammam and other cities in the Eastern Province. This enhances its residential and investment appeal and solidifies its position as a future-oriented, fully-serviced urban destination.
