Value of Riyadh’s development projects hit SAR 343 bln at 2017-end

The developmental projects undertaken in Riyadh had reached 2946 projects at the end of 2017, with a total value of SAR 342.9 billion, including private and not-for-profit ventures, Arriyadh Development Authority revealed.

The pipeline of projects across the capital city had increased slightly, compared to the first half of 2017, when total value stood at SAR 341.5 billion.

Governmental projects grabbed a lion’s share of total projects at 2,457 projects with a total value of SAR 240 billion.

The table below classifies projects by commissioning entity (ownership):

* Semi-governmental institutions including GOSI, SABIC …etc.

Total number of completed projects in Riyadh represented 32 percent of total projects at 881 projects by the end of 2017, at a total value of SAR 17.6 billion.

* Private and not-for-profit projects not included herein above.

The authority attributed the delay in project completion to the following factors:

- 83.2 percent shortage of contractor’s technical and financial capabilities

- 12.2 percent administrative, financial and regulatory issues

- 3.2 percent intrinsic obstacles in the project

- 1.2 percent amendment of the scope of work

- 0.2 percent scarcity of land plots

Public utilities projects came on top of projects in terms of number with a pipeline of 746 projects, while the transport and roads segment topped in terms of value at SAR 125.9 billion.

Regarding the delayed projects, housing and public services projects came in the first place, followed by transport and road projects.
 

*private sector and non-profit sector are not included.

Arriyadh Development Authority led funding entities (project owners) with SAR 109 billion worth of projects.