The city of Dubai has US$374.2bn worth of projects ongoing and in its pipeline, placing it as the city with the most construction projects in the world.
This is according to GlobalData, which released its 50 Construction Mega Cities report.
The data an analytics firm ranks London in second position, with $328.7bn worth of projects, and Moscow in third place, with $191.5bn.
“The ranking of Construction Mega Cities in the Gulf states shows they are spending the most on major development projects relative to the size of their populations. Dubai, for example, has a population of 3.2m, but it holds the top position in terms of the value of the construction mega-projects pipeline per capita,” remarked Yasmine Ghozzi, GlobalData Economist.
The 50 mega cities have a total of 6,645 either currently under construction or planned to be developed.
The 6,645 projects have a total combined value of $4.2trn, the report finds.