Modern Building Leaders was selected in 2022 to build the Royal Arts Complex. MEED reported the contract at SR7.5bn (about $2bn) in June 2023; a 2026 report gives about $1.76bn, so we show the contract value as reported rather than as settled. The complex was reported 48% complete in 2024 and is due to be handed to the Ministry of Culture around December 2026 to March 2027.
What it works on
Royal Arts Complex
SAR 7.5bn contract value
MEEDJun 2023Timeline
Modern Building Leaders selected for the Royal Arts Complex
MEED reported Modern Building Leaders as contractor for the complex, at about SAR 7.5bn (USD 2bn). Later reports quote a lower figure, so the value depends on the source and scope.
Royal Arts Complex reported 48% complete
A Foundation executive told MEED that structural works on the complex were done and construction was 48% complete. More than 13 million cubic metres of soil had been excavated.