The GCC Is Home to Half of the World's Megaprojects
- Publish date: Saturday، 08 April 2023 | Last update: Friday، 20 December 2024
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The Arab Gulf Region is currently the home of half of the megaprojects in the world, with four out of nine ongoing projects, Statista, a platform specialized in market and consumer data, reported, citing 1Build.
Read More: Top 3 Upcoming Mega Projects in Dubai
Read More: Top 3 Upcoming Mega Projects in Abu Dhabi
The four megaprojects are Neom City, Silk City, King Abdullah Economic City, and Dubailand.
Located in Saudi Arabia, the ambitious project of Neom City, a collection of futuristic towns and cities, is estimated to cost $500 billion, while King Abdullah Economic City North of Jeddah is expected to cost $100 billion.
Silk City in Northern Kuwait, which will be home to the world's future tallest building, is estimated to cost $132 billion, while the UAE's entertainment and tourism complex, Dubailand, will be costing around $64 billion.
Meanwhile, Gulf Railway, a $250 billion-worth project to connect all six GCC member states by rail, was halted in 2016. However, it could resume soon.
The rest of the megaprojects are the EU's Trans-European Transport Network (TEN-T), International Space Station, Delhi-Mumbai Industrual Corridor, California High-Speed Rail, and Forest City in Malaysia.