Exploring the World's Biggest Megaprojects
Global Growth of Megaprojects
Megaprojects around the world are becoming increasingly larger, with a particular focus on the Arab Gulf Region. According to the construction software company, 1Build, it is estimated that by the end of this decade, the world will witness the first construction megaproject with a projected cost exceeding $1 trillion. Presently, there are several ongoing projects that surpass $100 billion in size, a significant increase from a few years ago when $10 billion construction proposals were deemed as megaprojects.
Arab Gulf States Leading in Megaprojects
As reported by Katharina Buchholz from Statista, out of the nine ongoing megaprojects identified by 1Build, International Construction Magazine and Construction Review to cost $100 billion or more, four are being constructed in the Arab Gulf States.
Neom City: A Collection of Futuristic Towns and Cities
One of these ambitious projects is Neom City, a collection of futuristic towns and cities being constructed in Northwestern Saudi Arabia. One particular development, The Line, has gained significant attention for being planned as a completely enclosed, linear city. Despite recently being scaled back to a length of just 2.4 kilometers and a width of 200 meters, it is projected to house around 300,000 people by 2030. Other ongoing megaprojects in the Gulf include the King Abdullah Economic City North of Jeddah in Saudi Arabia and Silk City in Northern Kuwait, which is set to be the location of the world's future tallest building.
The EU's Trans-European Transport Network
Even more costly than Neom City is the EU's Trans-European Transport Network, a large-scale infrastructure upgrade estimated to cost $600 billion. This project involves the construction of railway lines, roads, shipping routes, and related structures in EU member countries to enhance long-distance transport.
Setbacks in Peninsular Projects
However, not all projects on the peninsula have been smooth sailing. The $250 billion, 2,000 km project aimed at connecting GCC member countries by rail faced setbacks. Originally set to be completed by 2018, it was halted but planning has since resumed. Another megaproject in the region that was partially canceled is the entertainment and tourism complex Dubailand, which was initially scheduled to cost $64 billion.
Bottom Line
The growth and scale of these megaprojects are a testament to human ambition and technological advancement. However, they also highlight the challenges and complexities involved in such massive undertakings. What are your thoughts on these megaprojects? Do you believe they represent progress or are they simply monuments to excess? Share your thoughts and this article with your friends. Don't forget to sign up for the Daily Briefing, available every day at 6pm.
