Ksa business_ $92bn projects driving saudi construction boom

Saudi Arabia’s top 10 construction projects – including the iconic 1-km-tall Jeddah Tower – are worth a collective $92 billion, said a report.

Religious facilities, entertainment venues, and new housing developments are all part of the mega projects that are getting international attention and driving the construction market forward in 2017, according to a BNC Report on Ongoing Mega Projects commissioned by The Big 5 Saudi 2017, the kingdom’s premier construction event.

Taking an in-depth look at current developments in the Saudi market, the urban construction and transport sectors constitute approximately 68 per cent of the total projects’ value in the country, estimated at $700 billion.

While exploring key prospects and developments within the local construction industry, the event organisers dmg events Middle East, Asia & Africa, released a report on the country’s Top 10 Mega Projects.

Slated to open with much anticipation is the Jeddah Tower, located in the Saudi Red Sea port city. Food restaurants near me that deliver Standing tall at 1 km high, the tower comprises 252 floors and will have a gross floor area of 245,000 sq m, stated the report.

It will include offices, a 200-room Four Seasons Hotel, 121 serviced apartments and 360 residential apartments. Fast food restaurants open now It will also have several sky lobbies and the world’s highest observation floors located on the top floors, at 660 m high, enabling visitors to view the city of Jeddah.

The project is valued $1.8 billion and due for completion by March 2020, it added.

Makkah is home to two of the most talked about developments: the Grand Mosque expansion and Abraj Kudai Development.

Consisting of 12 towers standing between 30 to 40 floors on top of a large podium and three basement floors, the Abraj Kudai Development will have approximately 10,150 residential units and hotel rooms.

The podium will have a bus station, a shopping mall, restaurants, food courts, a conference center and car parks. Fast food restaurants open today The project, developed by the Ministry of Finance is worth $3.5 billion and due for completion by the end of 2017.

To be completed by May 2019, the $17.2-billion Makkah mosque expansion project will cover an area of 456,000 sq m to accommodate the 1.2 million worshippers.

Developments by the Ministry of Municipalities and Rural Affairs are scheduled in three main sections: new buildings, courtyards, and tunnels, according to the report.

Tunnels will run a total length of 1,200 m through Jabal Hindi, countering a second tunnel which will be 1,100 m in length and will pass through Jabal Madafie. Fast food restaurants open late An added complex consisting of a library will be included in the expansion.

On the projects in capital Riyadh, the BNC report said four high profile projects are already under way. Fast food restaurants open on easter An initiative put forth by the Ministry of Housing, the Dahiyat Al Fursan development will create 100,000 houses and other infrastructure works in the capital.

The project will include construction of apartments, townhouses, education buildings, commercial buildings, and research & development centres.

Topping out at $20 billion, Dahiyat Al Fursan developments are expected to be completed by March 2020.

Hoping to be a new entertainment venue and shopping destination, Mall of Saudi developers Majid Al Futtaim Group have big plans for the proposed $3.2 billion shopping paradise.

Spread over a 866,000 sq m area including indoor snow parks and 300,000 sq m of shops, restaurants, entertainment areas, residential units, offices, show rooms space, luxury hotels, and serviced apartment buildings, the Mall of Saudi is expected to open its doors in March 2022.

On the retail scenario, the BNC report said the kingdom will see the construction of The Avenues, a 1.7-million-sq-m shopping mall. Restaurants american fork Developed by Shumool Real Estate, the $1.9-billion worth Avenues retail facility will also include two residential towers, two hotel towers, a medical tower and office units.

Looking to ease traffic congestions, the Riyadh Metro project boasts a 176-km long, six-line metro railway system is currently being constructed in the capital Riyadh.

With 81 stations along its route, the metro system will span across the surrounding regions and integrate many neighbourhoods. Restaurants american fork utah Valued at $24.3 billion, its completion date is set for December 2020, stated the report.

Besides these infrastructure projects, industrial developments too are making their mark as contenders for mega projects within Saudi Arabia.

Developers representing Saudi Aramco have set an ambitious completion date for later this year on November 30, 2017 for its new oil and gas processing facility, the Jazan Oil Refinery located in Jazan Economic City.

Once finished, the $7-billion facility will have the capacity to process up to 400,000 barrels per day of crude oil and 75,000 barrels of gasoline.

In the Eastern Province, Saudi Aramco unveiled and set in motion another oil and gas processing facility, the Fadhili Gas Plant.

Valued at $6.6 billion, the gas plant will have a capacity of 15 billion standard cu ft per day (BSCFD) of non-associated gas. Restaurants fast food near me It is due for completion in December 2018.

The other key projects include the onshore Khursaniyah upstream facility, the Fadhili downstream pipelines, a residential camp, a 380 KV substation and industrial support facilities at the new gas plant.

Looking to expand further into the booming market and participating at this year’s The Big 5 Saudi, is Coote Engineering.

Tony McArdle, the company’s head of sales, said: “Coote Engineering has enjoyed a long and mutually beneficial relationship with the Saudi market. American food restaurants near me Our many customers in the kingdom insist on the innovative and robust machines that produce a premium end product.”

More than just an exhibition, The Big 5 Saudi 2017 will offer 48 free-to-attend and CPD (continuing professional development)-certified workshops, to help industry professionals develop their skills and knowledge.

Delivered by industry experts, this year’s sessions will focus on project management, innovation and technology, and sustainability.- TradeArabia News Service

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