Saudi Arabia, the United Arab Emirates, and Egypt are leading in the largest investment projects in the region - CNN Economy

In the eastern part of the world, large construction projects worth1.9 trillion US dollars, with the main part of such investments being approximately90%(or1.7 trillion dollars), concentrated in countries such asSaudi Arabia,United Arab EmiratesandEgyptThese data became known thanks to the analysis conducted by the consulting company Knight Frank. Among the announced projects, Saudi Arabia holds a leading position, with a volume of active investments in1.2 trillion dollarsFollowing them are the UAE, which have managed to attract300 billion dollarsand Egypt with an indicator of200 billion dollarsThese transformations demonstrate the determination of Middle Eastern countries to achieve their goal of attracting investment.160 million touristsin a year toin the year 2030.

According to the report from the World Tourism Organization, the number of visitors in the region has increased by20%compared to the indicators before the COVID-19 pandemic over the nine months endingSeptember 2023What makes the Middle East the only region that has been able to exceed the level2019According to recent information from Knight Frank, the real estate market in Egypt is showing positive dynamics despite the current economic difficulties in the country. It is forecasted that the cost of new residential construction in Egypt will increase on average by9%annually during the period from2024 to 2027.

In particular, in the first half of the year2023It was announced that residential projects worth771 million dollarsIn Egypt.

Major ambitious projects in the region

• ProjectNEOMIn Saudi Arabia with a budget of500 billion dollars
• The administrative capital of Egypt for the new generation with the necessary resources in45 billion dollars
• ProjectOasisin Dubai with investments in20 billion dollars
• ProjectCity of visionsin Saudi Arabia for20 billion dollars
• ProjectCity of Al-Rafilin Iraq with the cost15 billion dollars
• Construction in the areaMekkifor the amount9.7 billion dollars
• ProjectDevelopment of the Assalekh Bayin Kuwait, valued at4.9 billion dollars
• ProjectAidain Oman on a budget4 billion dollars