Egypt's Qena Governorate to power up 1-gigawatt solar project by mid-2026    China's urban jobless rate eases in June '25    Asia-Pacific markets rise on China's GDP data    Egypt's Health Minister reviews drug authority cooperation with WHO    Egypt's PM orders 60,000 new homes for Alexandria's unsafe buildings    Crystal Martin to build large-scale textile, apparel factory in Egypt    Egypt urges EU support for Gaza ceasefire, reconstruction at Brussels talks    Escalation in Gaza as Israeli airstrikes intensify, ceasefire talks stagnate    Agriculture Minister discusses boosting agricultural cooperation with Romania, Moldova    Pakistan names Qatari royal as brand ambassador after 'Killer Mountain' climb    Health Ministry denies claims of meningitis-related deaths among siblings    Egypt, Mexico explore joint action on environment, sustainability    Egypt, Mexico discuss environmental cooperation, combating desertification    Needle-spiking attacks in France prompt government warning, public fear    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, France FMs review Gaza ceasefire efforts, reconstruction    CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan    Greco-Roman tombs with hieroglyphic inscriptions discovered in Aswan    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Egypt condemns deadly terrorist attack in Niger        Sisi launches new support initiative for families of war, terrorism victims    Egypt's GAH, Spain's Konecta discuss digital health partnership    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Dubai tops list of construction mega cities worldwide
Published in Amwal Al Ghad on 05 - 12 - 2019

Dubai has retained its position as the top city in the world for the construction of mega cities with total projects valued at $611.2 billion, new research by GlobalData has found.
The city continued to dominate the global rankings with a project value that is almost double that of London, that took second place with a total project value of $342.9 billion. New York came in third on GlobalData's 2019 Construction Mega Cities list, with a total project value of $285.2 billion.
GlobalData tracks large-scale construction projects in all sectors, and following a recent assessment of project pipelines in major cities worldwide, it has compiled a listing of 50 ‘Construction Mega Cities' for 2019, each having a pipeline of projects with an investment value above $30 billion.
The combined value of the project pipelines in these cities stands at $5.3 trillion, and includes over 8,200 projects at various stages of development, from announced to execution.
From 2007 to 2025, GlobalData expects the cities' combined gross domestic product (GDP) to increase by more than $8 trillion to $20.4 trillion.
They will be home to an estimated 527 million inhabitants, many being in China and other emerging markets that are witnessing a fast pace of urbanization. GlobalData projects that average per capita GDP in these cities will rise from $1,791 in 2007 to $2,263 in 2025, in real terms.
“Of the 50 construction mega cities, 29 are considered to be in emerging markets. The rapid growth of cities in the emerging regions reflects both above-average population and per-capita GDP growth,” aid Yasmine Ghozzi, economist at GlobalData.
“The population of those 29 emerging-region cities will reach an estimated 327 million by 2025, at an annual increase of 1.8 per cent from 237 million in 2007. At the same time, GlobalData projects that the real GDP per capita (measured in real terms) in these emerging urban centers will increase by 2.4 per cent from $520,854 to $820,311 between 2007 and 2025,” Ghozzi said.
Seven new cities have made it to the 2019 list, namely Istanbul, Tokyo, Fuzhou, Zurich, Atlanta, Zhengzhou, and Las Vegas. The combined value of the project pipelines for those new entrants stand at $379.75 billion, and includes 505 projects at various stages of development.
The Asia-Pacific region dominates the list, accounting for 25 of the 50 cities, and has a combined projects pipeline valued at $2.1 trillion.
“Some major cities in the Middle Eastern Gulf states, namely Dubai, Doha, and Kuwait City, along with Cairo, secured their spots in the top ten in terms of spending on mega projects relative to the size of their economies,” Ghozzi added.
“The construction sectors in these cities are expected to be key drivers of economic growth in years to come. However, Dubai's economy is expected to grow by 1.3 percent in real terms in 2019 reflecting the completion of many infrastructure projects related to Expo 2020 Dubai.”
Source: Khaleej Times


Clic here to read the story from its source.