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According to the management consulting firm "Oliver Wyman", infrastructure development in the Gulf countries would require 1 000 billion USD in investment for the 2019-2023 period alone. This is in addition to the 600 billion USD that are needed for some mega-projects such as Neom and Qiddiya in Saudi Arabia or Al Hareer City in Kuwait.
To-date, the governments involved can only release 18% of the required budget, that is 300 billion USD. In the absence of financial resources, sovereign wealth funds and State-owned enterprises are also unable to make up the difference, a situation that requires postponing the deadlines for the completion of these infrastructure works.
Costs of some planned megaprojects in Gulf countries
| Project | Neom | Al Hareer City | Qiddiya | Amaala |
|---|---|---|---|---|
Country | Saudi Arabia | Kuwait | Saudi Arabia | Saudi Arabia |
Project type | Futuristic city | Luxury urban area | Entertainment station | Luxurious and ecological tourist complex |
Cost | 425 billion USD | 132 billion USD | 8 billion USD | 4 billion USD |
Area | 26 500 km2 | 250 km2 | 334 km2 | 200 km2 |
End of works | 2025 | 2035 | 2030 | 2028 |
