The GCC Is Home to Half of the World's Megaprojects

Related articles

A Kuwaiti and Another GCC National Went Missing in Iraq's Desert

Kuwait's Jasem Al-Budaiwi Appointed as New GCC Secretary General

These GCC Nations Rank Top 8 for Lowest Global Petrol Prices

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.

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.

This article was previously published on UAE Moments.To see the original article, click here