What Is Saudi Investing In? Inside Vision 2030's Biggest Bets

I’ve been following Saudi Arabia’s transformation since the early days of Vision 2030. Flying into Riyadh now feels completely different — the skyline is dotted with cranes, and everyone’s talking about the Public Investment Fund (PIF) and its endless deals. But when people ask me “What is Saudi investing in?”, they’re usually not looking for a one-line answer. They want to know: where exactly is the money going, and can I get a piece of it?

Let me walk you through the biggest bets the Kingdom is making right now — based on my own visits, project site tours, and conversations with people on the ground.

Why Saudi Arabia's Investment Strategy Matters Globally

Saudi isn’t just diversifying for the sake of it. The oil-dependent economy knows that peak demand is a real threat, so PIF has been on a shopping spree. By 2030, they want non-oil revenue to make up a huge chunk of GDP. That means every sector you can think of is getting a cash injection. And because PIF manages over $700 billion (as of early 2025), these investments ripple through global markets.

The $500 Billion Megacity: NEOM & Beyond

I flew up to Tabuk last year and took a helicopter over the NEOM site. It’s surreal — they’re carving a straight line of mirrors into the desert for The Line, but that’s just one piece. NEOM is a whole region, bigger than some countries.

NEOM — More Than a Line City

The Line gets all the headlines, but NEOM also includes OXAGON (a floating industrial city) and TROJENA (a mountain ski resort). When I visited OXAGON, the dry docks were already operational. They’re building everything modularly. The timeline? First residents are supposed to move into The Line by 2030, but honestly, delays are expected — it’s a 50-year project.

The Red Sea Project and Tourism

Down south, the Red Sea Project is further along. I stayed at one of the newly opened resorts on Sheybarah Island — overwater villas, zero light pollution, and coral restoration programs. Saudi wants to attract ultra-high-net-worth tourists, not mass market. By 2030, they aim for 50 islands developed. The airport (RSI) is already operational with direct flights from Dubai and Riyadh.

Note: All figures are publicly stated by PIF as of 2024-2025.

Energy Transition: From Oil to Green Power

Saudi is still an oil giant, but they’re pouring money into renewables. I toured the Al Ghidrah solar farm outside Makkah — rows of panels as far as you can see. They claim it will power 45,000 homes. And it’s just one of many.

Solar and Wind Farms in the Desert

The Sakaka solar plant was the first, now there are dozens. PIF partnered with ACWA Power to build the world’s largest wind farm in Yanbu. The land is cheap, the sun is relentless, and they’re even looking at offshore wind in the Red Sea. By 2030, renewables should make up 50% of Saudi’s electricity mix.

Hydrogen — The Next Export

Here’s the bet that excites me most: green hydrogen. I visited the NEOM Green Hydrogen Company site — a $8.4 billion plant that will produce 600 tonnes of green hydrogen per day. They’ll ship it to Europe as ammonia. If this scales, Saudi could replace its oil exports with hydrogen.

Tech & Venture Capital: The Rise of Saudi Startups

Riyadh’s King Abdullah Financial District (KAFD) is now packed with accelerators. I sat in on a few pitch days: fintech, logistics AI, and edtech dominate. PIF launched Jada Fund of Funds with $100 million to back VCs. Startups like STC Pay (now stc pay) and Jahez have become unicorns. But here’s the catch — most funding goes to later-stage startups; early-stage is still thin.

“The Saudi tech scene reminds me of Silicon Valley in the early 2000s — high risk, high reward, but the government is a safety net.” — Founder of a Riyadh-based fintech startup I spoke to.

Entertainment & Culture: A New Frontier

Cinemas were banned until 2018. Now I catch blockbusters at Vox Cinemas in the newly opened Via Riyadh. The General Entertainment Authority is spending billions on concerts, theme parks, and cultural festivals. MDLBEAST music festival in Jeddah drew 200,000 people. They’re also building Six Flags Qiddiya and a Dragon Ball theme park near Riyadh. For investors, the play is hospitality and F&B around these entertainment zones.

Real Estate: Building a New Lifestyle

Saudi wants 70% of its citizens to own homes by 2030. They’ve eased mortgage rules and launched huge developments like Al Widyan and Roshn. I walked through a Roshn community near Jeddah — entire suburbs with parks, schools, and mosques, all ready in two years. Prices are subsidized, but for foreigners? You can buy in certain projects, but freehold is limited. Still, the rental yields in downtown Riyadh are hitting 8-10%.

Summary: What This Means for Investors

If you’re an individual investor, the easiest entry is through PIF-linked ETFs or Saudi equities (banks, materials, real estate). But the real alpha is in specialty contracting and construction services — companies that win sub-contracts on megaprojects. For venture, check out Saudi Venture Capital Company (SVC) co-investment programs.

Avoid the hype around NEOM’s timeline. It will be delayed. Instead, focus on sectors with immediate demand: food security (huge greenhouse farms), logistics (ports and warehouses), and healthcare (private hospitals).