The shift to the open-ended contract was the case prior to 2006. But since the implementation of labor-law reforms, that has been eliminated. Now your contract is linked to your iqama. Anyone who renews his contract twice, or works for at least three years in the Kingdom the expiration date of his work/residency visa is the ending date of the contract. In your case, your contract ends at the next expiration date of your iqama. The best thing for you to do is to wait until your iqama is about to expire and turn in your resignation at least 30 days prior to that date.

If you comply with the rules, resigning at the expiration date of your iqama and giving at least 30-days notice then it is your right to collect your full ESB. However, your employer retains the right to grant or deny your request for a no-objection certificate that allows you to shift to another sponsor. Having a positive relationship with your employer will help persuade him to grant this permission. If he does not, then you must leave the country for at least one year before returning under a new sponsor. Also keep in mind that resigning before the end of your contract term (the expiration date of your iqama) might adversely affect the way your ESB is calculated.
 

Theoretically, it is possible to naturalize as a Saudi citizen. But practically, it is very difficult to get Saudi nationality. There are conditions, including the amount of time spent in the country, your educational level and your family ties. The Saudi government is very strictly conservative in this regard. Personally, I wish this would change in order to help naturalize foreign professionals living here and contribute positively to the country’s development. That would be tremendously useful.