Saudi Arabia’s 10 largest construction projects are worth a combined $92bn (SAR345bn), according to research conducted by BNC Network.
The researchers list the country’s top 10 projects as: Jeddah Tower, Abraj Kudai, Holy Haram Mosque, Prophet’s Mosque, Dahiyat Al Fursan, Mall of Saudi, The Avenues, Riyadh Metro, Jazan Oil Refinery, and Fadhili Gas Plant.
At an estimated $700bn (SAR2.63tn), the sectors of urban construction and transportation account for approximately 68% of the overall value of projects in Saudi Arabia.
At approximately 1km in height, Jeddah Tower will comprise 252 floors, and boast a gross floor area (GFA) of 245,000m2. It will include offices, a 200-room Four Seasons Hotel, 121 serviced apartments, and 360 residential apartments. Valued at $1.8bn (SAR6.75bn), the project is scheduled to complete by March 2020.
Located in Makkah, the Abraj Kudai development will consist of a dozen 20- to 30-floor towers standing atop a large podium. With approximately 10,150 residential units and hotel rooms, the project will also feature food courts, a conference center, and car parks. The project, which is being developed by Saudi Arabia’s Ministry of Finance, is valued at $3.5bn (SAR13.1bn), and is due to complete by the end of this year.
Once complete, the Holy Haram Mosque will occupy an area of approximately 456,000m2, and will be equipped to accommodate the 1.2 million worshippers who visit the site every year. The $17.2bn (SAR64.5bn) expansion is scheduled to complete by May 2019.
Located in Medina, the Prophet’s Mosque is currently undergoing a $6.7bn (SAR25.13bn) expansion. The project will be spread over an area of more than 100ha, and is due to complete by the end of this year.
Dahiyat Al Fursan comprises four high-profile projects in Riyadh. Spearheaded by the Ministry of Housing, the initiative will create 100,000 homes, and drive the development of related infrastructure. At an estimated value of $20bn (SAR75bn), Dahiyat Al Fursan is expected to complete by March 2020.
Developed by Majid Al Futtaim Group, Mall of Saudi will occupy an area of 866,000m2. It will feature 300,000m2 of shops, restaurants, entertainment areas, residential units, offices, hotels, and serviced apartment buildings. At $3.2bn (SAR12bn), the project is scheduled to open to the public in March 2022.
The Avenues is a 170ha shopping mall that is being developed by Shumool Real Estate. The $1.9bn (SAR7.13bn) retail facility will also feature two residential towers, two hotel towers, a medical tower, and a selection of office units.
At an estimated development cost of $24.3bn (SAR91.1bn), Riyadh Metro is the largest under-construction mass transit system in the world. With overall completion set for December 2020, the 176km-long network will boast six lines and 81 stations.
Developers representing Saudi Aramco have set an ambitious completion date of 30 November, 2017 for the Jazan Oil Refinery. The oil and gas processing facility, which is located in Jazan Economic City, the $7bn (SAR26.25bn) project has been designed to extract up to 400,000 barrels of crude oil and 75,000 barrels of gasoline per day.
Finally, valued at $6.6bn (SAR24.75bn), Fadhili Gas Plant is scheduled to complete in December 2018. The facility will boast a capacity of 15 billion standard cubic feet per day (BSCFD) of non-associated gas. It will also include the onshore Khursaniyah upstream facility, the Fadhili downstream pipelines, a residential ramp, a 380KV substation, and industrial support facilities.
The report stated that religious facilities, entertainment venues, and new housing developments are likely to drive the kingdom’s construction market forward in 2017.