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Real estate construction in Gulf hits US$1 trillion

According to a recent industry intelligence report, investment in real estate across the Arabian gulf has surpassed US$1 trillion. Research by Proleads, a Dubai based-group, revealed there are 885 active civil buildings projects valued over US$10 mil in the region.

This includes residential, commercial and institutional projects in Bahrain , Kuwait , Oman , Qatar , Saudi Arabia and the United Arab Emirates . Only active projects were considered.

The top five projects alone are valued at over US$358 bil:

The $120 billion King Abdullah Economic City in Saudi Arabia

  1. Kuwait 's $86 billion Silk City project
  2. Dubai Investment's $60 billion Dubailand
  3. The $53 billion Prince Abdulaziz Bin Mousaed Economic City in Hail, Saudi Arabia
  4. Abu Dhabi 's $39 billion Yas Island development

The research did not include projects that only encompassed infrastructure. It is estimated that, if these had taken into account, the total investment could top US$1.25 trillion.

     

ISSN 1994-9464
Key title: RFP magazine
Abbreviated key title: RFP mag.

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