Saudi Arabia to become the world's largest construction site: Report - News | Khaleej Times
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According to global real estate consultancy Knight Frank, planned construction in Saudi Arabia by 2030 is set to make the Kingdom the current biggest const..
According to global real estate consultancy Knight Frank, planned construction in Saudi Arabia by 2030 is set to make the Kingdom the current biggest construction site in the world.
Knight Frank projected that Riyadh's population will touch 17 million by 2030 as compared to 7.
5 million today.
Following the launch of Saudi Arabia's national transformation plan, Vision 2030, in 2016, Riyadh alone has seen an unveiling of real estate projects worth $104 billion.
"We are currently tracking 15 giga projects in various phases of construction around the Kingdom, many of which are new stand-alone super-cities in their own right", commented Harmen de Jong, head of Real Estate Strategy & Consulting, Saudi Arabia.
Saudi Arabia to become the world's largest construction site: ReportMeet three friends cycling from Tajikistan to Saudi Arabia via UAEPlans for a new international airport worth $147 billion have also been reported by the real estate firm, details of which are expected soon
Roughly 74 per cent of the $200 billion nationwide infrastructure expenditure goes towards this airport
Close to 30 per cent of home-owners in the Kingdom are prepared to spend over $800,000 on a second home in Neom, the report adds, meaning that developers will have their work cut out for them to satisfy this explosive demand
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