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Abu Dhabi makes major construction investments https://lnkd.in/e24ac_f3 The emirate boasts a pipeline of $41bn-worth of upcoming projects in the construction and transport sector

🇸🇦🏗️🏩🏡Saudi Arabia Giga Projects Report 2024 (Knight Frank) 🔵 According to Knight Frank's tracker, since the launch of Saudi Arabia's Vision 2030 eight years ago, the total announced value of real estate and infrastructure projects has reached US$1.3 trillion by 2024, surpassing the country's estimated GDP of approximately US$1.01 trillion for the same year. This total marks a 4% growth compared to the previous year. The cumulative value of contracts awarded so far stands at US$164 billion, while the total value of projects in the pipeline amounts to US$249 billion. 🔵 NEOM is the centerpiece of the Kingdom's transformative plans. Essentially a new superstate within Saudi Arabia, the US$500 billion megacity has revealed plans for 12 destinations within its borders. To date, construction contracts worth US$28.7 billion have been awarded for various projects within NEOM.

NEOM Partnership with Asas Al-Mohileb to Build SR 700 million Ready-mix Concrete Project #NEOM #Project #Infrastructure #Procurement #Tenders #Bidding NEOM, the sustainable region progressing rapidly in northwest #SaudiArabia, has announced a partnership with Asas Al-Mohileb to establish and operate a SAR 700 million ready-mix concrete facility. The multi-plant factory, dedicated to producing concrete, will mainly service the #Construction of THE #LINE, the linear city currently under development in NEOM. Asas Al-Mohileb, a leading Saudi Arabian construction and #Engineering company, is currently building the complex of batching plants in NEOM. Leveraging their industry expertise, Asas Al-Mohileb will also operate the facility with a capacity to produce over 20,000 cubic meters of ready-mix green concrete per day. Nadhmi Al-Nasr, NEOM CEO, said: “The delivery of these concrete plants is another testament to the rapid progress happening at NEOM. It also underscores the strength of the Kingdom’s construction industry, and the critical role local partnerships play in delivering this transformational project efficiently and sustainably. We are proud to partner with local contractors and appreciate their contribution to NEOM’s advancement across our portfolio of projects, fulfilling NEOM's goal of becoming a hub for local industry leaders and entrepreneurs in support of Saudi #Vision2030.” Sulaiman Al-Mohileb, CEO of Al-Mohileb said: “This partnership emphasizes our firm commitment to advancing economic growth in the Kingdom by employing the latest technologies and innovative construction solutions. We are dedicated to adopting sustainable practices that align with the goals of Saudi Vision 2030, which focus on empowering the manufacturing sector and enhancing its role in driving the Kingdom’s broader development objectives.” As an advanced concrete production facility, the factory’s plants will incorporate carbon capture and utilization (CCU) technology and energy-saving solutions, with majority of output servicing the construction of THE LINE. With concrete being a core material for THE LINE’s substructure and superstructure, the new factory has mobilized a fleet of support vehicles in readiness for operations to commence next month. Peak operations are anticipated to start in 2025, and the facility is expected to generate over 500 local jobs. The establishment of the plant comes as construction on THE LINE progresses quickly. Work on the foundation piles has begun, with nearly 1,000 out of over 30,000 piles placed so far.

🇸🇦🏗️🏩🏡Saudi Arabia Giga Projects Report 2024 (Knight Frank) 🔵 According to Knight Frank's tracker, since the launch of Saudi Arabia's Vision 2030 eight years ago, the total announced value of real estate and infrastructure projects has reached US$1.3 trillion by 2024, surpassing the country's estimated GDP of approximately US$1.01 trillion for the same year. This total marks a 4% growth compared to the previous year. The cumulative value of contracts awarded so far stands at US$164 billion, while the total value of projects in the pipeline amounts to US$249 billion. 🔵 NEOM is the centerpiece of the Kingdom's transformative plans. Essentially a new superstate within Saudi Arabia, the US$500 billion megacity has revealed plans for 12 destinations within its borders. To date, construction contracts worth US$28.7 billion have been awarded for various projects within NEOM.

Modon Holding and Hassan Allam Holding to explore collaboration across large scale construction projects in Ras El Hekma , Egypt

Ranked at number 9 are the world’s megaprojects, many of which are concentrated in the Arab Gulf Region. 1Build anticipates the emergence of the world’s first $1 trillion construction megaproject by the end of the decade. Today, numerous projects surpass $100 billion, a remarkable leap from the $10 billion threshold that once defined a megaproject. #neom

📈 The GCC’s #construction sector is booming, with over 5,200 ongoing projects in KSA alone, valued at over US$819bn. According to Mordor Intelligence, the market is set to grow from US$169bn to US$217bn by 2029. Initiatives like Saudi Vision 2030 and UAE infrastructure investments are driving this surge. #ConstructionGrowth #GCCProjects #SaudiVision2030 #Infrastructure #MiddleEast

As we approach 2025, Saudi Arabia’s construction sector is poised for significant growth, with several transformative projects set to commence or reach critical milestones.#Vision2030 #SustainableDevelopment #UrbanMobility #Insuranc https://lnkd.in/dkA3cywh

In 2024, the construction sector in Kuwait is estimated to contribute around 5-6% of the country’s GDP. This is influenced by ongoing infrastructure projects, including those under the Kuwait Development Plan (KDP), as well as the government’s focus on diversifying the economy, increasing investments in real estate, and developing key infrastructure such as transportation and residential projects. Kuwait’s construction sector plays an important role, but it is somewhat smaller in comparison to some of its Gulf neighbors like Saudi Arabia or the UAE, where larger-scale projects are more prevalent. However, Kuwait’s investment in infrastructure and urban development is expected to maintain or slightly grow this share in the near term.

Oman’s construction & infrastructure market is expected to be active in the coming years and currently has $327.63 billion worth of projects, according to ProTenders analysis. The construction industry accounts for a 9% share of Oman’s GDP and is the country’s largest employer.