The construction landscape has shifted dramatically in the past few years as the world bounces back from global challenges. The industry stands on the brink of monumental evolution. This momentum ushers us into the realm of mega projects, which stand as symbols of human ingenuity, resilience, and the spirit of innovation.

 

The year 2023 saw the world of construction serve up the world’s second tallest skyscraper, the largest LED sphere, the largest cruise ship, and the world’s most ultra luxury resort. The upcoming year looks set to be even more dramatic with the completion of epic new super tall skyscrapers, sustainable smart cities, entertainment destinations, and high-speed rail projects. Join us today as we count down the top 10 biggest mega projects completing in 2024.

 

 

#10 Six Flags Qiddiya, Saudi Arabia

 

 

Qiddiya will be the Disneyland of Saudi Arabia. It is approximately 45 km from the center of Riyadh and is expected to be the world’s largest entertainment city by 2030, with a total area of 334 square km. Phase 1, slated to be completed in 2024, is estimated to cost over $8 billion.

 

The first phase of Qiddiya will see the completion of the world’s largest theme park called Six Flags Theme Park, which will be built at a cost of $1 billion. It has been announced that the theme park is slated to open sometime in October 2024. The park features a range of record-breaking rides and attractions, including the world’s longest, tallest, and fastest roller coaster. This will be the first Six Flags branded theme park in Saudi Arabia and the first Six Flags park outside of North America since 2004.

 

The park will encompass a total of 79 acres upon opening and will feature 28 different rides and attractions across six themed lands.

 

 

#9 Iconic Tower, Egypt

 

 

Within the vast governmental initiative to build a brand new cutting edge capital city of Egypt, we will see the construction of many incredible skyscrapers, including the Iconic Tower. With a total structural height of 394 m, the Iconic Tower will have 80 floors.

 

Floors one to 40 will be offices, with the next 10 floors being branded apartments, followed by 30 floors that are being finalized as part of a 5-star hotel. An observation deck will be set on the 74th floor to give visitors an aerial view of the new Administrative Capital.

 

This tower, which is one of the 20 towers being built in the central business district of Egypt’s new capital, is being implemented by China State Construction Engineering Corporation.

 

Construction of the tower officially began in May 2018, and by June 2021, all structural concrete work was completed. The tower is expected to be completed by 2024. Upon completion, it will be the tallest building in Egypt and Africa.

 

Also, it is worth noting that this tower is being accomplished at a cost of $3 billion.

 

 

#8 The Sindalah Island, Saudi Arabia

 

 

Work is well underway for the development of Neom’s first luxury island providing a scenic gateway to the Red Sea that will become the region’s most exciting and attractive tourism location.

 

The Sindalah island intends to have no cars and even no roads because the goal is to have all the vital services and amenities that people require within a 5-minute walk. The island will focus on incredible experiences while being backed by cutting edge technology.

 

The island will feature a prestigious 86-berth marina, an ideal destination for accommodating luxury yachts, providing a range of maritime experiences such as snorkeling, kayaking, kite surfing and scuba diving.

 

Sindalah will offer 400 ultra-premium hotel rooms in addition to 300 top-end serviced apartments. A lux beach club, glamorous yacht club and 40 unique restaurant offerings will provide an incomparable experience in the Red Sea.

 

Sindalah is also expected to become a popular golfing destination. The island will be home to a world-class golf course that will have 360° views of the Red Sea.

 

Sindalah is expected to start welcoming guests to enjoy its exquisite facilities and exclusive offerings from early 2024.

 

Click here to learn more and subscribe to the newsletter

 

 

#7 Woven City, Japan

 

 

Toyota Motor Corporation is aiming to become a world leader in smart city technology with its ambitious project to build Woven City, a fully connected human-centered city at the base of Mount Fuji that spreads across 175 acres of land.

 

The city will be a test track for smart mobility with three different roads: one strictly for autonomous vehicle roads powered and managed by AI, another green road for cyclers and scooters, and a third green road for pedestrians.

 

The city will run on hydrogen fuel cell energy technology and solar power under the concept of mobility for all. Fleets of autonomous electric shuttles will deliver goods, homes made of wood will reduce carbon footprint, and residents will monitor their health using AI-powered sensors while robots assist people daily.

 

In Woven City, residents will eat innovative food based on cutting-edge molecular science to stay healthy.

 

Toyota plans to send about 360 people to live in Woven City to test the new way of living there. It intends to gradually grow the population to more than 2,000 and act as a lab for scientists, engineers, and researchers to test the latest technologies in real urban environments.

 

This $1 billion mega project is expected to open in 2024.

 

 

#6 New Capital Nusantara, Indonesia

 

 

The Indonesian government is building a whole new capital city from scratch. The new capital Nusantara will cost an estimated $35 billion and it is expected to be home to almost 2 million residents by 2045.

 

Nusantara will be a green metropolis run on renewable energy where there are no choking traffic jams and people can stroll and bike along verdant paths. And it will be a high-tech city. The president believes it will attract digital nomads and millennials who will purchase stylish apartments with cryptocurrency.

 

The relocation to the new capital is to be completed in five phases, finishing by 2045. Phase 1 comprises a zone known as the Government Central Area that includes government offices, schools and hospitals, which is scheduled to be completed by February 2024.

 

The plan, according to President Jokowi, is that the official celebration of Indonesia’s Independence Day on August 17th, 2024 will be held at his new palace in Nusantara, with the hope to inaugurate Nusantara by August 2024.

 

Bulldozers are clearing acres of plantation forest land, but the problem is not a single showcase structure has been completed yet. We will have to wait and see if this plan works out.

 

 

#5 Ciel Tower, Dubai

 

 

Dubai’s latest addition to its impressive skyline is the Ciel Tower at 1,198 ft high. The tower will be the tallest hotel in the world when completed, exceeding the current tallest Gevora hotel by 36 ft.

 

The skyscraper is being built in the Dubai Marina District in the immediate vicinity of the sea. Construction work of Ciel Tower has been ongoing since 2016 at the building site in Dubai Marina, and the entire project is estimated to cost around $500 million.

 

In March 2022, the skyscraper reached the halfway stage of 52 stories. The tower features a unique design with a sleek and modern exterior that will make it a distinctive addition to Dubai’s skyline once completed.

 

Ciel Tower will boast a number of luxury features and amenities, including 1,000 rooms, a rooftop terrace with an infinity pool and bar, as well as award-winning restaurants. The mega project is scheduled for completion by the first half of 2024.

 

Try our new customized ChatGPT completely for free

 

#4 Navi International Airport, Mumbai

 

 

With the opening set in 2024, Navi Mumbai International Airport is poised to become the second airport in the Mumbai metropolitan region in India.

 

Considering the growing population and expanding economic influence in the Mumbai region, the new airport aims to alleviate pressure on the city’s existing airport which currently serves nearly 45 million passengers per year.

 

Navi Mumbai International Airport, in addition to enhancing regional connectivity, will feature multiple transportation links. Among these, the Mumbai Trans Harbor Link, a 22 km long sea bridge currently under construction, will connect the airport to Mumbai’s mainland.

 

The new airport is being developed in multiple phases. The first phase, scheduled for completion by December 2024, includes the opening of the runway, enabling the airport to handle 20 million passengers annually.

 

As part of its plan, the airport will include three interconnected terminals. The fourth terminal will be dedicated to low-cost carriers designed to accommodate at least 2 million passengers annually in the first phase of completion.

 

It will feature two runways and provide parking spaces for 42 aircraft. The cost of this project is estimated to be $2 billion.

 

#3 Azabudai Hills Tower, Tokyo

 

 

Japan is adding another landmark to its list of mega developments in the capital. Construction has begun on a new elite district where Japan’s tallest skyscraper will rise.

 

The aim of the mega project is to create a modern urban village, one that meets the requirements of a mega city but at the same time brings the intimacy of a village into the heart of the big city.

 

Set to open in 2024, Toranomon-Azabudai Hills in Tokyo will cost $4.2 billion to construct. Within the context of Japan’s earthquakes, the goal is to create a city within a city that people can escape to rather than flee from.

 

This new neighborhood will have a 64-story main tower and two other residential towers. In 2022, the main tower of the development topped out at 1,082 ft and simultaneously became both Japan’s tallest building and Tokyo’s first supertall skyscraper.

 

This new building is built to be so strong that it’s designed to be a safe shelter to flee to and for its occupants to carry on working even if Tokyo is hit by a magnitude 9 earthquake.

 

#2 Tren Maya, Mexico

 

 

Mexico is undertaking a massive $10 billion railway mega project that will connect to major cities and tourist spots of Mexico’s Yucatán Peninsula.

 

Known as Tren Maya, the project will greatly improve the country’s transportation and economic growth. The 1,500 km long railway line, divided into seven different sections, will pass through 29 stations in the five main southeastern states.

 

This mega project was launched by the Mexican government as part of the national development plan for 2019 to 2024. According to Bombardier, which will oversee the production of the trains, a total of 42 trains will be produced.

 

Six of these are expected to be available at the time of the project’s inauguration in 2024. The trains will travel at a maximum speed of 176 kilometers per hour.

 

This railway network could transport over 40,000 passengers every day as well as cargo, but Tren Maya has been part of many controversies. Critics believe that the mega project has been rushed and environmental concerns have been overridden.

 

So far, construction has already led to 120 square km of jungle being cleared and nearly 9 million trees being chopped down.

 

 

#1 Gordie Howe International Bridge, Canada/USA

 

 

The Gordie Howe International Bridge is a cable-stayed international bridge across the Detroit River connecting the US city of Detroit with Windsor, Ontario in Canada.

 

The bridge is projected to cost $4.4 billion and it is scheduled for completion by the end of 2024. When completed, the 2.5 km crossing will be the longest cable-stayed bridge in North America.

 

The bridge will have two A-shaped towers, six lanes for automotive traffic and a 12 ft wide bicycle and walking path. This project is named after Canadian ice hockey player Gordie Howe, whose celebrated 25 year career with the Detroit Red Wings.

 

With traffic crossing the border expected to grow immensely, the Gordie Howe International Bridge will provide an orderly flow of people and goods between USA and Canada.

 

The project also includes building new ports of entry that will connect to both the American and Canadian bridge termini. The new Canadian Port of Entry will be built on a 130 acre site and will be the largest Canadian port on the US-Canadian border.

 

The US Port of Entry will be developed on a 167 acre site and will be one of the largest border facilities in North America.

 

Are you interested in learning more about multifamily real estate investing? Our team of experienced professionals is here to help. Whether you’re looking for advice on conducting market research or need assistance in identifying the best investment opportunities, we have the knowledge and expertise to guide you through the process. Connect with us today through our Telegram channel for real-time updates and valuable insights. Subscribe to our YouTube channel to access informative videos and expert discussions on multifamily real estate investing. Follow us on Instagram for inspiring visuals and exclusive content. Check out our new customized ChatGPTs: Real Estate Investing Coach and Real Estate Guru.  Contact us now to schedule a consultation and take the first step towards achieving your financial goals in the multifamily real estate industry.

 

Where to Listen: