The scale and value of infrastructure projects in Saudi Arabia are growing exponentially Valued at $120.4 billion in 2021, this sector is primed for growth with a projected yearly average growth rate of at least 4% from 2023 to 2026. This is being driven by investments in transportation, renewable energy, housing, and tourism, with in excess of 5,200 ongoing projects worth a grand total of $819 billion.
Undoubtedly, one of the most talked about and ambitious projects is The Line, a smart city initiative worth $500 billion and spanning 170 kilometers, giving precedence to nature, sustainability, renewable energy, and advanced transportation. NEOM high-speed rail line is another major project, a joint venture between Italian contractor Webuild and Saudi Arabian counterpart Sajco, and will connect The Line with Oxagon, a revolutionary hub comprising interlocked floating sections. Then there is Qiddiya, a vibrant and liveable destination city based on pillars of entertainment, sports, and culture.
It is an industry that is making the most of the many technological advances in recent years too. Automated solutions, including robotic bricklayers and AI-assisted drones, are turning out to be relatively commonplace, contributing to cost reduction, time savings, and safety observance. The assimilation of robotics and AI aligns with the Saudi National Industrial Strategy, which aspires to establish worldwide leadership in advanced manufacturing. Modular construction is also obtaining an increasingly strong toehold, especially in the residential sector. And as the Kingdom continues to diversify its economy through transformative projects, its construction industry will continue to thrive, putting Saudi Arabia in the spotlight on the global stage.
https://saudi.tpg.media/over-5200-ongoing-projects-worth-819-billion/
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