The government of Saudi Arabia has announced plans to launch the tendering process of its SAR10 billion (US$2.66 billion) Amaala mixed-use development master plan. The company responsible for the development of the land is planning to award the concession within three to four months. Initial funding for the project was provided by Public Investment Fund (PIF).

Amaala development will be carried out on a 4,155-square kilometer land area located on the north-western coast of Saudi Arabia. In the first phase, six hotels with a capacity of 1000 rooms will be built as well as a large marina and a residential golf course. The authority is expecting to finish the construction of the first phase by 2024.

Divided into three-part, the master plan involves the development of 30 to 35 hotels with a capacity of 3000 rooms, 900 private residential villas, apartments, and estate homes, alongside 200 high-end retail establishments, fine dining, wellness and recreational facilities as well as an international airport. The airport design will be done by Fosters + Partners. The whole master plan is expected to realize by 2030 as part of Saudi Arabia's Vision 2030 plan.

In addition, AMAALA has recently awarded several construction contracts to a number of Saudi companies including Al-Tamimi Group, HASCO and Saudi Real Estate (Binyah).