Saudi Arabia aims to raise $64 billion from private investors by 2030 under a new national privatization strategy.
The authorities aim to sign more than 220 public-private partnership (PPP) contracts across 18 sectors, including transport, water, and airports, shifting more funding and service delivery away from the state.
A government spokesperson told Semafor that the new strategy was designed to be more execution-focused, with clearer risk allocation and projects structured in ways that should boost investor confidence. It comes amid a broader reassessment of the government’s spending priorities, including the suspension of work on Riyadh’s Mukaab skyscraper and the scaling back of NEOM.
Saudi Arabia has tried versions of this before, but earlier privatization drives delivered little, with only a handful of asset sales completed. Major PPP proposals such as a coast-to-coast rail line known as the Saudi Landbridge have sat in planning for years, while efforts to sell the Ras Al Khair desalination plant were scrapped in 2021 due to weak investor interest.