$250bn Gulf projects in bidding phase

MEGA PROJECT: An artist's impression of the $13 billion Al-Zorah development planned for Ajman.

In spite of fears that the global credit crunch and economic slowdown could impact the Gulf, latest analysis shows there are still more than 250 major civil construction projects in the bidding phase across the region worth nearly $120 billion.

Research carried out by Proleads has identified the vast number of projects across the GCC which have gone beyond initial planning.

They range in value from $12 million to $13.6 billion with 135 of them in the UAE and 60 in Saudi Arabia.

The Top Ten projects in bidding alone are valued at a staggering total of $64.3 billion, headed by the building of new cities in both the UAE and Saudi Arabia.

The news comes as organisers announced that the The Big 5 exhibition, a construction industry show taking place in Dubai in November, is now a sell out.

The 2007 show featured more than 2,830 exhibiting companies from 53 countries and this year there will be well over 3,000 with more than 50,000 visitors expected to attend.
 
This year, The Big 5 will be promoting energy efficient green building solutions and environmentally friendly technologies.

The Big 5 organisers are also collaborating with experts from the British Safety Council for a programme of health and safety training workshops.

Top 10 Gulf projects in progress:

1. Al-Zorah Development, UAE - $13.6 billion

This Solidere-Aqaar project is a 10 square kilometre development in Ajman, UAE, including residential buildings, commercial office district, marina, golf course, hotels, hospitals and schools.

2. Al Wasl Development, Saudi Arabia - $12.5 billion

Planned by the UAE's Limitless north of Riyadh to include more than 55,000 homes; 300 hectares of open space; one million square metres of office space; three large mosques, each accommodating up to 2,000 worshippers; more than 2,000 hotel rooms; seven shopping centres; schools; university; hospital and a sports stadium.

3. King Abdullah Financial Centre, Saudi Arabia - $7.8 billion

Owned by the Public Pension Agency of Saudi Arabia, an integrated financial complex in north Riyadh. The centre aims to be the largest financial complex in the Middle East.

4. Saudi Landbridge Project - $7 billion

Composed of two main railway lines, Riyadh-Jeddah and Dammam-Jubail, primarily for container traffic to and from Jeddah on the Red Sea to Dammam on the Arabian Gulf.  The line will carry up to 40 double stack container trains a day and will also carry passengers between Jeddah and Riyadh.

5.  Mecca Medina Railway, Saudi Arabia - $6 billion

A high speed rail network linking the holy cities of Mecca and Madina with up to 100 trains a day carrying around 2.5 million pilgrims during the Hajj and 9.5 million Umrah visitors during the year.

6. Arabian Canal, Dubai Waterfront, UAE - $5 billion

The canal will flow from the Dubai Waterfront in Jebel Ali and pass to the east of the Dubai World Central airport  development before turning back towards Palm Jumeirah.

7. Dubai Pearl Development, UAE - $4 billion

Four 68 storey mixed use towers, connected by a podium and a bridge. The development will include residential, hotel, commercial and retail space, a 1,500 seat performing arts theatre.

8. International Humanitarian City, UAE - $3 billion

Within the Dubai World Central airport development scheme, the project will comprise 28 warehouses, seven office buildings and a United Nations building.

9. The World, UAE - $3 billion

The World involves 300 islands offshore from Dubai. All islands will only be accessible by marine or air transport, with marinas to berth boats, yachts and cruise liners. Two mainland marinas will service the islands.

10. King Saud University Women's College, Saudi Arabia - $2.4 billion

A new women's college at King Saud University in Riyadh to include 12 buildings. The development will cover an area of approximately one million square metres.

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