Turkish construction giants compete for Neom Bay Airport contract in Saudi Arabia

Three leading Turkish construction firms are competing to develop a cutting-edge airport in Neom, Saudi Arabia’s $500 billion futuristic city.

The contenders include industry leaders Limak and IC Ictas, both renowned for their expertise in executing large-scale airport projects globally.

The third competitor is speculated to be either YDA Group or TAV Construction, both seasoned players in the sector. With a projected capacity of 20 million passengers annually, the airport is estimated to exceed a $1 billion budget.

Türkiye’s expanding investments in Saudi Arabia

President Recep Tayyip Erdogan’s recent visit to Saudi Arabia for the joint summit of the Organisation of Islamic Cooperation and the Arab League marks a turning point in bilateral relations. Beyond construction, Saudi Arabia is now embracing Turkish investments in sectors such as aviation, mining, pharmaceuticals, and e-commerce.

IC Ictas, in partnership with Al Rashid Trading and Contracting Company, has already completed key terminal projects at Riyadh’s King Khalid International Airport. Confident in its capabilities, the firm aims to secure at least one of six additional terminals planned for the site, alongside its bid for the Neom airport.

Limak, another strong contender, boasts an impressive portfolio of international airport projects, reinforcing Türkiye’s standing as a global leader in construction.

Both Limak and IC Ictas have successfully passed the preliminary application stages for the Neom tender.

The participation of multiple Turkish firms underscores the growing economic ties between Türkiye and Saudi Arabia while highlighting the competitive edge of Turkish contractors in the Gulf region.

Neom: Saudi Arabia’s showcase project for Vision 2030

Neom, spanning 26,500 square kilometers in northwestern Tabuk Province, represents a cornerstone of Saudi Arabia’s Vision 2030. Designed as a hub of innovation and sustainability, the megacity aims to revolutionize technology, energy and living standards. The new airport will serve as a crucial gateway for tourists and investors visiting the region.

Under Vision 2030, Saudi Arabia seeks to diversify its economy away from oil dependence by fostering growth in tourism, entertainment, and technology.

The kingdom’s ambitious goal of attracting 100 million tourists annually by 2030 drives substantial investments in infrastructure.

As the bidding process unfolds, the collaboration and competition among Turkish firms will be closely monitored, showcasing their ability to thrive in a rapidly evolving global market.