A new report, GCC Major Building Projects, by Ventures Onsite has named Saudi Arabia’s $100bn King Abdullah City as the most expensive project currently under construction.
King Abdullah City of Atomic and Renewable Energy, is a sustainable city with ambitious plans to install 7GW of nuclear power and 41GW of solar capacity by 2040. According to the World Nuclear Association, it is also expected to develop 20GW of geothermal and wind power, and has established plans to construct 16 nuclear power plants with 17GW over the next 20 years. Construction of the city is scheduled to start early next year once a main contractor has been appointed, the report said.
The report names 30 construction projects in region over the last two decades, a third of which have still not appointed a main contractor.
Also among the top names on the report is Mohammed Bin Rashid City, a ten-year multibillion dollar mixed-use project in Dubai, that will include the Mall of the World, the world’s largest retail destination and possibly the biggest swimming pool in the world at 40 acres.
