For decades, Dammam and neighbouring Al Khobar have been known primarily as the industrial and commercial heart of Saudi Arabia’s oil-rich Eastern Province… Now a major privately funded coastal development aims to reposition the region as a lifestyle and waterfront destination.
Presented at MIPIM 2026, the New Dammam Project by Adel Real Estate Company represents one of the most ambitious privately led urban developments ever launched in the Eastern Province.
The project spans around 32 million square metres and is planned as a large mixed-use community combining residential neighbourhoods, hospitality, commercial zones and an extensive waterfront.
Speaking at MIPIM, Adel’s Chief Project Development Officer Jaafar Buhulaiga outlined the scale of the development. “New Dammam is the largest project currently executed in the Eastern Province. It spans 32 million square metres and it is a totally mixed-use community. We aim for this project to redefine the coast of Dammam as a new coastal destination and an urban development.”
Buhulaiga says the project will feature a large stretch of coastal terrain and is designed to accommodate both residential living and investment-led development. “It’s a mixed-use community which has hospitality, a commercial hub and a waterfront of around 20 kilometres. It is open for residential projects as well as investment projects.”
Redefining the eastern province
The development marks a significant shift for the Eastern Province, which has historically been defined by energy, logistics and industry rather than leisure or tourism.
Located between Dammam and Al Khobar, the project is intended to create a new urban district that complements the economic role of the two cities while introducing lifestyle and entertainment elements.
“The project itself is located between Dammam and Al Khobar. Historically those two places were defined as business hubs, but now we are redefining the area as an attraction and clearly a coastal destination that will serve entertainment, residential and business needs”, said Buhulaiga.
Accessibility and regional connectivity are also expected to play a key role in the project’s success, particularly given the proximity of international flights into Dammam and nearby Gulf markets such as Bahrain.
“We designed the project to accommodate the demand expected from our neighbours. We studied the market and identified the needs from the business aspects and from the housing demand, and we applied that to the project”, he added.
Seeking international partners
At MIPIM, the company is actively engaging with potential international investors, developers and operators interested in participating in the project.
Buhulaiga says MIPIM is a great platform to connect with developers, international investors and operators. “In our project we are focusing on opening more to international partners, understanding their needs and exploring potential collaboration.”
The aim, he says, is to attract global expertise to help develop various elements of the master plan. “We are looking to communicate with potential investors at a global level and potential developers who are interested in the opportunity to work on a huge mixed-use coastal project.”
A major private-sector initiative
Unlike many of Saudi Arabia’s most high-profile development announcements, which are backed by the sovereign Public Investment Fund (PIF), the New Dammam project is being developed entirely by the private sector.
The project is launched at the initiative of the family business led by Ibrahim Al-Nemer, chairman of Adel Real Estate Company, which, according to Buhulaiga, is one of the project’s distinctive features. “That is the unique thing about New Dammam. Taking into consideration the size of the project, it would normally be equivalent to several PIF projects. However, it is executed totally by the private sector.”
Location as the key advantage
While the project includes a wide range of urban and waterfront elements, Buhulaiga emphasised that its strategic location between the Eastern Province’s two most active cities remains its strongest asset. “For me, we have a lot of selling points, but the prime one is location — location, location. It is a massive urban development located between two active cities, Dammam and Al Khobar, and it sits at the centre of these cities. That gives strong potential to secure demand and ensure flow to the project.”
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