Saudi Arabia and Kuwait lead Gulf megaprojects, but global projects exceed $1 trillion in cost

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Leading the way in megaprojects, Saudi Arabia and Kuwait are currently implementing NEOM and Silk City respectively, which are two of the world’s largest construction projects. However, despite the Gulf’s massive infrastructure investments, Europe’s Trans-European Transport Network is estimated to cost $600 billion, and China’s Belt and Road Initiative is projected to cost over $1 trillion, according to data from Statista.

The data also revealed that several projects currently underway in the Gulf exceed $100 billion in size, including NEOM, a futuristic city expected to house 450,000 people by 2026. Other megaprojects in the region include The Line, Dubailand, King Abdullah Economic City, and the 2,000 km rail project connecting GCC member countries.

Although some experts have raised concerns about the environmental impact and financial feasibility of such large investments, the report suggests that the Gulf region will continue to lead in these developments. Additionally, construction software company 1Build predicts that the world’s first construction megaproject with a cost exceeding $1 trillion will be completed before the end of the decade.