Saudi Arabia and Kuwait are currently leading the Gulf in megaprojects, with NEOM in Saudi Arabia and Silk City in Kuwait two of the biggest planned construction projects globally.
However, according to data by Statista, along with the Gulf that is experiencing massive infrastructure investments, Europe’s Trans-European Transport Network is set to cost $600 billion, while China’s Belt and Road Initiative is predicted to cost over $1 trillion.
Megaprojects in the Gulf
The data showed that currently several projects underway exceed the size of $100 billion, including NEOM, which is a futuristic city being built in Northwestern Saudi Arabia, however, according to construction software company 1Build, before the end of the decade, the world will see its first construction megaproject with a cost exceeding $1 trillion.
NEOM project is a collection of futuristic towns and cities that are expected to house 450,000 people by 2026.
The Line, which is one of its developments, is planned as a completely enclosed city 170 km in length, 200 meters in width, and 500 meters in height. Meanwhile, Silk City in Northern Kuwait will be home to the world’s future tallest building – Burj Mubarak.
Other megaprojects in the region include entertainment and tourism complex Dubailand, King Abdullah Economic City North of Jeddah in Saudi Arabia, and the 2,000 km project connecting GCC member countries by rail, which was initially to be completed by 2018 but has since been halted. However, the project could resume soon, the data said.
Some experts have also expressed concern about the potential environmental impact and the financial feasibility of such large investments, however the report said that the Gulf region is set to remain at the forefront of these developments.
Follow us on
