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While Dubai has pioneered investment in the region over the last few years, neighbouring emirates and countries within the GCC are all beginning to utilise growing interest and investment in the region with the announcement of massive-scale projects. These range from coastal residential resorts to mixed-use urban economic centres.
With figures from a recent report by Dubai-based Proleads, revealing the value of construction within the region has now reached US $1 trillion, it is clear Dubai no longer has the monopoly on grandiose schemes. As such, Construction Week casts an eye over the largest and most significant projects that can be found within the GCC.
King Abdullah Economic City
With an estimated value of US $120 billion (SAR 447 billion), the massive project is located 100km north of Jeddah on the banks of the Red Sea, and between the two holy cities of Makkah and Madinah. The city will be divided into six distinctive components: the Sea Port, Industrial Zone, Central Business District, Resort District, Educational Zone and Residential Communities.
It will feature 63 million m2 of industrial land and will become home to two million people. The city is designed to give investors and entrepreneurs' worldwide opportunities to provide Saudi Arabia's youth with one million job opportunities.
Emaar is the master developer of the 168 million m2 (which is triple its original area) development. In October, the company signed a $34.5 million roadworks contract with Saudi Binladen Group. The project covers the construction of a 13-km road from the KAEC main gate to the Bay La Sun village residential community within the economic city. Work is scheduled for completion in seven months.
Madinat Al-Hareer, City of Silk
Kuwait's huge urban development project is expected to take 25 years to complete and cost an estimated $86 billion. The centrepiece of the project will be the Burj Mubarak Al-Kabir, which is expected to eclipse one kilometre in height.
Located opposite the capital city, Madinat Al-Hareer has been on the drawing board for some time, but last month Kuwait's Municipal Council approved drawing sketches of the 250 km2 development. The council also agreed to the construction of the Jaber Al-Ahmed Bridge that will link the two urban centres.
The project includes construction of a two million m2 natural desert reservation, a new airport, a large business centre, as well as areas that concentrate on the environment, sports, media, health, education and industry.
