The real estate construction boom in the Arabian Gulf has broken through the $1 trillion mark, according to the latest industry intelligence on current active projects in the region, says a spokesman for Dubai-based research company Proleads.

He adds: “The sheer scale of new development in the GCC countries is impressive by any standard and according to available data there are 885 active civil buildings projects in the region, each with a value in excess of $10 million.”
The projects, which cover all forms of buildings in the commercial and residential sectors – including educational establishments, healthcare facilities, cinemas, theatres, sports facilities, hotels and theme parks as well as mixed-use and retail developments – have been estimated at a total value of over $1 trillion he says.
“Active projects in this case refer to those that are either in the planning, study, design, bidding or construction stages – not simply concepts – and do not include those already completed,” he adds.
The top five active civil projects in the GCC with a total combined value of $358 billion include: The $120 billion King Abdullah Economic City (KAEC) in Saudi Arabia; Kuwait’s $86 billion Silk City (Madinat Al Hareer); Dubai Investment’s $60 billion Dubailand, Dubai; The $53 billion Prince Abdulaziz bin Mousaed Economic City in Hail, Saudi Arabia; and Abu Dhabi’s $39 billion Yas Island development.
“The data compiled by Proleads is even more impressive if all other forms of civil- related construction are added, including roads and bridges, reclamation schemes, airports, ports, railways, canals and utility networks, because, if accounted, this could push the total number of regional projects to a mammoth 1,654 with a combined value of more than $1.25 trillion,” the spokesman adds.
Not unexpectedly, the UAE and Saudi Arabia account for the lion’s share of civil building development. In the UAE alone, there are a total of 390 projects with a combined total value of more than $430 billion, according to the Proleads data. Saudi Arabia is not far behind with 330 such projects with a total value of more than $409 billion.
There are more than 340 residential projects across the GCC with a combined value of over $81 billion. The UAE is well out in front in terms of residential projects with more than 230 currently active and a total value of over $59 billion.
Commercial projects across the region number 144 with a combined value of over $17 billion. Again the UAE leads with 81 of the commercial projects valued at more than $10 billion.
In the hospitality sector, there are 96 hotel projects, with an individual worth of over $10 million, coming up in the Arabian Gulf putting the combined total at $190 billion, he concludes.