Middle East’s upscale projects are a two-edged sword says report ...United Arab Emirates

A new report from Turner & Townsend reveals that the Middle East’s ambitious giga-projects and state-backed developments are not only driving construction activity across the region, but markedly impacting supply chain capacity. Nonetheless, this rapid surge of investment, paired with inflation falls and economic diversification, continues to attract top international talent. The International Construction Market Survey (ICMS) 2024 report from Turner & Townsend shows that rising demand, particularly in the Kingdom of Saudi Arabia (KSA), is pushing up construction costs. Riyadh is the region’s most expensive city to build in at $2,593 per sqm, as the Saudi capital benefits from accelerated gr

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