The 10 most expensive megaprojects in the world

• The global construction industry is witnessing an increase in megaprojects, with the Arabian Gulf region leading the way.
• Neom City, a futuristic urban development in Saudi Arabia, is one of the most ambitious megaprojects globally.
• The Trans-European Transport Network, a $600 billion infrastructure project, aims to improve connectivity across the EU.

Megaprojects have grown globally and many of them have grown recently centered on the Arabian Gulf region.

Construction software company 1 Build estimates that before the end of the decade, the world will see the first construction megaproject with a cost estimate exceeding $1 trillion. At the moment, there are several ongoing projects that exceed the size of 100 billion dollars – despite the fact that the proposed $10 billion construction was considered a megaproject just a few years ago.

As Katharina Buchholz of Statista reports, of all nine ongoing megaprojects identified by 1Build, International Journal of Construction and Construction review to cost $100 billion or more, four were being built in the Arab Gulf states.

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This includes the ambitious project of Neom City, in fact, a collection of futuristic cities and towns that are being built in northwestern Saudi Arabia.

One of the developments The line has received the most attention because it was planned as a completely enclosed, linear city. The project was recent reduced to a length of only 2.4 kilometers/1.5 miles (and 200 meters wide/500 meters high). It is expected to house around 300,000 people by 2030 – just a fraction of its original length. Other megaprojects underway in the Gulf are King Abdullah Economic City north of Jeddah in Saudi Arabia and Silk City in northern Kuwait, which will house the future tallest building in the world.

More expensive than Neom City is the EU’s trans-European transport network. Large-scale modernization of infrastructure the estimated cost of $600 billion includes building railway lines, roads, shipping routes and related structures in EU member countries to improve long-distance transport.

Projects on the peninsula have also suffered setbacks, such as the $250 billion, 2,000 km project to connect GCC member countries by rail. Originally due to be completed by 2018, it was halted, but planning has since resumed. One megaproject in the region that has been partially canceled is the Dubailand entertainment and tourism complex, originally slated to cost $64 billion.

By Zerohedge.com

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