DREAM / The Prime Minister resigns and wakes up under the Parisian bridge!

 Kliko këtu për të tjera
Voxpress:

Saudi Arabia, the largest construction market in the world

2024-06-29 11:09:21Lifestyle SHKRUAR NGA REDAKSIA VOX

Saudi Arabia, the largest construction market in the world

Saudi Arabia is set to become the world's biggest construction market as the kingdom pours huge sums of money into projects aimed at renovating and diversifying the economy. This is the conclusion reached by the report of the real estate consultancy group 'Knight Frank'.

The total value of construction output in the country is projected to reach $181.5 billion by the end of 2028, up nearly 30% from the 2023 level, Bloomberg reported.

Much of that figure is likely to come from housing and so-called mega projects, along with other developments that are part of Crown Prince Mohammed bin Salman's mission to transform the oil-dependent economy. The plan, known as Vision 2030, should create an atmosphere of success for the growing population as well as the expected influx of foreign tourists.

A historic transformation is currently taking place in Saudi Arabia with construction projects that stand out for their scale, design and value.

Since the Vision 2030 initiative was introduced eight years ago, Saudi Arabia has launched projects worth more than $1.25 billion, according to research published by Knight Frank.

In 2023 alone, more than $140 billion in construction contracts were awarded. Most of them were in Riyadh, where Saudi Arabia aims to increase its population to ten million by 2030.

The capital has become a major focal point as the kingdom prepares to host the EXPO 2030 world exhibition, and possibly the 2034 FIFA World Cup.

 

 


Në përputhje me standarded JTI

Video

SHIKO KANALIN NE YOUTUBE
×