Market Trends of Middle East & Africa Infrastructure Construction Industry
Giga Infrastructure Projects in Saudi Arabia to Boost the Infrastructure Construction Market Sector
The significance of construction in Saudi Arabia is underscored by its suite of Giga projects, transport and mobility schemes, such as Riyadh Metro, social infrastructure developments, such as the Ministry of Housing's Sakani program, and energy megaprojects, such as the state-owned Aramco's Berri and Marjan oil fields.
Currently, the country's economy is entering a post-oil era in which the kingdom's mega-cities, which are under construction, will provide future growth. According to industry sources, more than 5,200 construction projects are currently ongoing in Saudi Arabia at a value of USD 819 billion. These projects account for approximately 35% of the total value of active projects across the Gulf Cooperation Council (GCC).
Some of the major urban construction projects in Saudi Arabia include the King Abdullah Security Compounds (Phase 5) and the Grand Mosque (Holy Haram Mosque expansion), each valued at USD 21.3 billion and developed by the Ministry of Municipalities and Rural Affairs in Makkah.
The top construction projects in Saudi Arabia include Neom, the Red Sea Project, Qiddiya entertainment city, Amaala, Jean Nouvel's Sharman resort in Al-Ula, Makkah Grand Mosque - Third Expansion, Jeddah Tower, Ministry of Housing's Sakani Homes, Jabal Omar, Al Widyan, Riyadh Metro, Riyadh Rapid Bus Transit System, King Fahd Medical City Expansion, King Abdullah Bin Abdulaziz Medical Complexes, King Salman Energy Park (Spark), Saudi Aramco's Berri and Marjan, Hanergy Solar Park, Dumat Al Jandal Wind Power Plant, Saudi Aramco-Total's PIB factory, and Pan-Asia bottling facility.
Infrastructure Construction Projects in Pipeline to Boost the Market
African cities are changing with several major projects, ranging from magnificent skyscrapers to megacities built from scratch. These multimillion-dollar construction projects in Africa are giving its cities a much-needed transformation.
Developing infrastructure has been a focus of many governments to meet the needs and requirements of a growing population, making construction the largest sector in Africa. There are over 570 construction projects in Africa worth USD 450 billion.
The energy sector has projects worth over USD 370 billion, followed by the transportation sector, with projects that include roads, airports, and railways, worth USD 280 billion.
Konza technopolis is Kenya's smart city project, a few kilometers from Nairobi. The Kenyan government allocated 2,000 hectares of land for the project. The city is part of the government's vision for 2030 and may serve as the central hub for tech, science, telecom, and education.
The estimated cost of this smart city is USD 14.5 billion, and it may generate about 20,000 jobs when completed. The first phase of the project's horizontal infrastructure works is expected to be completed by the end of 2022.
