The construction industry is booming in the Middle East, Africa, and South Asia (MEASA) region, with over $7 trillion in active projects and $3.8 trillion worth of recently awarded projects.
With a pipeline of new projects worth $2.4 trillion in the pre-execution phase for the next three years, there is a significant opportunity for businesses to expand their reach and explore potential investment opportunities in the region.
Stay ahead of the game by regularly visiting this page for the latest updates on cutting-edge projects and the most promising billion-dollar investments to watch out for in 2023.
* Source: ABIQ
In the ever-expanding MEASA construction market, governments are on an unstoppable mission. With visionary determination, they are fueling a remarkable surge in infrastructure development, driving economic growth and transforming skylines. From towering skyscrapers to sprawling transportation networks, the region is witnessing an unprecedented construction boom. With unwavering commitment and strategic investments, governments are propelling their nations towards a brighter future, solidifying the MEASA region's position as a global hub for innovation and progress.
Mohammed Bin Rashid (MBR) City will include several developments within and connected to Downtown Dubai and Business Bay through a crossing that will be named the "Cultural Crossing".
The city will have art galleries and create the largest area for arts in the region, family entertainments, hotels and other tourist attractions, retail & shopping centres including Mall of the World, residential districts, business and commercial establishments. The Mohammed Bin Rashid Gardens, Universal Studios Theme Park, and Dubai Hills will also be part of the development. Source: Ventures Onsite
Dubai Creek Harbour offers a truly mixed-use development with waterfront eco-resorts, a marina and yacht club, commercial and retail space will all inter-mingle with cultural, leisure and educational amenities, all creating an aspirational mixed-use development.
The Dubai Creek Harbour master plan will include a retail precinct, walkways, Signature Towers, and the Dubai Creek Residences. It will house 39,000 homes, more than 8 million square feet of retail space, 3,664 office units and 22 hotels. The development will be of 6 million square meters in size. Source: Ventures Onsite
Aimed at generating more than 30,000 jobs in the green economy, Dubai Reefs is a floating living lab for marine restoration and ecotourism. The project includes residential, hospitality, retail, educational & research facilities.
The marine institute will be the heart of the project, working towards greater protection of the marine and coastal environment of Dubai. It aims to accelerate the marine science and conservation capacity of Dubai, whilst building the most diverse artificial reef, covering 200 square kilometres. Source: Construction Week Middle East
UAE
Abu Dhabi unveils a remarkable $4 billion transformation plan for Hudayriyat Island, set to create a world-class destination for sports, leisure, and tourism. This ambitious masterplan encompasses a range of exciting features including a world-class surfing attraction, a velodrome, a sprawling urban park, 53.5 kilometers of coastline, and 16 kilometers of pristine new beaches.
By 2028, this visionary project is poised to generate numerous job opportunities, bolster the local economy, and attract millions of visitors annually. Hudayriyat Island is on the cusp of becoming Abu Dhabi's premier tourist hotspot. Source: Arabian Business
Aimed at generating more than 30,000 jobs in the green economy, Dubai Reefs is a floating living lab for marine restoration and ecotourism. The project includes residential, hospitality, retail, educational & research facilities.
The marine institute will be the heart of the project, working towards greater protection of the marine and coastal environment of Dubai. It aims to accelerate the marine science and conservation capacity of Dubai, whilst building the most diverse artificial reef, covering 200 square kilometres. Source: Construction Week Middle East
King Abdullah Economic City (KAEC) is a vision-ready investment destination that features a fast-growing manufacturing and logistics hub within a modern environment that is home to world-class urban living and tourism experiences, making it a key enabler of Vision 2030. Source: KAEC
The project calls for the construction of an integrated mixed-use development on 181 square kilometres area in Rabigh on the Red Sea in Mecca province in Saudi Arabia. The development will have capacity for at least two million people and will also includes a seaport and industrial and logistic zone. Source: ABiQ
Neom is Saudi Arabia's flagship business and tourism development on the Red Sea coast. It is a central project in the 2030 Vision outlining the kingdom's plans to diversify the economy. The $500 billion development will include smart towns and cities, ports, research centres, sports and entertainment venues and tourist centres.
The development will be spread across 26,500 square kilometres and will comprise several zones, including industrial and logistics areas. It is planned for completion in 2025. Source: The National
Amaala is an ultra-luxury tourism destination being developed along the Red Sea coast in northwestern Saudi Arabia. Spanning more than 4,000 sq. km, this year-round destination will offer everything from sea and sun to sports, arts, and culture, ensuring that everyone – whatever they love doing – can enjoy the experience of a lifetime.
The first phase of development is set for completion by mid-2024 and will consist of more than 1,300 hotel rooms across eight different resorts. Source: Amaala
Qetaifan Island North, lies off the east coast of Lusail City in Qatar and is set to be one of Qatar’s landmark destinations and globally competitive environment, the project has a total built up area of 1.3 million sqm.
This entertainment island is envisioned with the construction of a 345 rooms 4* hotel, linear canal with park, F&B outlets, retail plazas with souq and a waterpark inspired by Qatari culture, which will be the world’s highest slide tower of its kind. Source: SNC Lavalin
It is a smart administrative capital for urban development that introduces a modern concept of residence and is expected to accommodate 18 million people to 40 million people by 2050. Egypt is switching its capital city from Cairo to a brand-new constructed city “New Administrative Capital.” Source: The New York Times
The Saudi Fund for Development has signed a preliminary agreement to back an infrastructure development project worth 1.2 billion Saudi riyals in Oman.
Under the agreement, the Saudi fund will finance the project for Al-Dhahirah Special Economic Zone in Oman, which the two sides will develop. The project includes the construction of infrastructure, roads, electrical installations, water and sewage networks, treatment of industrial waste, and the setting up of basic facilities. Source: The National
As Oman experiences continuous population growth, the country is undertaking the construction of 11 new hospitals to meet the rising healthcare demands.
The Ministry of Health is spearheading these projects across various regions, aiming to benefit both Omani citizens and residents. One notable project is the Al Suwaiq Hospital in North Al Batinah Governorate, which is expected to be finished in 2024 and will have a capacity of 307 beds. Source: Construction Week Middle East
Oman
Oman's Ministry of housing and urban planning reveals ambitious mega projects in Dhofar, Musandam, and South Al Batinah. The highlights include Rathath Boulevard, a vibrant 10-kilometer-long hub of shops and restaurants in Dhofar; Rimal Park, a sprawling 1,000-hectare oasis in South Al Batinah featuring a zoo, golf course, and marina; and Aames Bay Development, a 500-hectare marvel in Musandam encompassing a resort, marina, and residential complex.
With an estimated cost of $10 billion, these projects signify Oman's dedication to economic growth, job creation, and enhanced living standards. Prepare for a remarkable transformation and a boost in tourism as Oman propels forward. Source: Construction Week Online
Diyar Al Muharraq is a complex of 7 manmade islands, with an overall area of 12 km2. Considered one of the most visionary urban developments in Bahrain, Diyar Al Muharraq is a fully integrated city incorporating a variety of modern residential and commercial facilities.
The project includes beaches, villas and primary and secondary infrastructure. Once completed, it will include more than 40km waterfront with sandy beaches, with a variety of vital elements ranging from fully equipped educational facilities and schools, medical centers, shopping malls, hotels, and more. Source: Diyar Al Muharraq
Konza Technopolis is a key flagship project of Kenya’s Vision 2030 economic development portfolio. Konza will be a world-class city, powered by a thriving information, ICT sector, superior reliable infrastructure and business friendly governance systems.
Konza Techno City development covers 5,000 acres of land and includes: commercial office space, and hotels, real estate residential properties, large scale commercial shopping malls, film and media centre, health clinics, educational institutions, houses of worship, transportation and more. Source: Konza
Centenary City is situated in Abuja, Nigeria and is designed to provide a sense of community that has all the modern facilities of a city in a village setting. The aim of the Centenary City is to focus the attention of the investing world to Nigeria in a way that has never been done before.
Centenary City will provide all amenities such as Parks, Sports fields, Schools, and an urban Safari park needed to live life to the fullest throughout the abundant greenery expanses of their development. Source: Centenary City
One of the largest of its kind integrated lifestyle communities in Ethiopia, La Gare features more than 4,000 residences set in an area of over 360,000 sqm. Adding to the lifestyle choice of residents and catalysing the economy are commercial, hospitality, retail and leisure attractions – all set in a gated community around a green park.
La Gare presents a new lifestyle central for Addis Ababa with its exceptional layout of residences and commercial offices. The residential towers and commercial district are set around a vibrant boulevard.
Source: La Gare
