Significant building projects underway or about to commence
May 7, 2014
In the King Abullah Financial City, the “mega project” announced by the king of Saudi Arabia in 2005, approximately 45 high rise buildings are currently being built, with a completion due date of 2015 and an anticipated cost of U.S.$7–10 billion. The office space being created is three times more than that currently available in Riyadh.
Work on the Riyadh metro system is about to begin and is contracted to three major companies from Spain, Italy and the Netherlands. This is a U.S.$22.5 billion project.
Separately, the King Abdullah City for Atomic and Renewable Energy (an independent organization with the responsibility for producing sustainable energy for future generations) is creating 155,000 jobs and plans to construct 15 nuclear plants by 2030.