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

03/07/2018 Argaam Special

 

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):

 

Projects Classified by Ownership

Project type

Number of Projects

Cost (SAR bln)

Government

2457

239.50

Semi-governmental *

318

45.74

Private

148

55.95

Not-for Profit

23

1.71

Total

2946

342.90

* 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.

 

Projects Classified by Status *

Project

Number of projects

% of total

Cost (SAR bln)

Completed

881

32%

34.96

Under construction

1232

44%

216.39

Delayed

468

17%

8.49

Distressed

194

7%

25.40

Total

2775

100%

285.23

* 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.
 

Projects by Sector*

Sector

Completed

Under construction

Delayed

Distressed

Total

No.

Cost

No.

Cost

No.

Cost

No.

Cost

No.

Cost

Housing & Public services

195

4,879

307

23,009

146

1,388

75

970

723

30.25

Transport & Roads

321

6,392

208

115,104

134

1,827

51

2,536

714

125.86

Public Utilities

230

15,226

430

47,020

60

2,667

26

326

746

65.24

Educational Services

84

1,970

194

13,523

75

1,079

15

354

368

16.93

Health Services

12

356

67

14,740

33

738

17

2,498

129

18.33

Economic Development

39

6,136

26

2,990

20

793

10

18,711

95

28.63

Total

881

34,959

1,232

216,386

468

8,492

194

25,395

2,775

285.23

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

 

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

 

Major Gov’t Project Owners (Funding Entities)

Entity

Cost (SAR bln)

Arriyadh Development Authority

108.8

Saudi Electricity

42.50

Public Pension Agency

27.14

Ministry of Interior

25.79

Riyadh Municipality

12.45

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.