The Middle East have more than $41 billion in active leisure development projects. Tourism has become a significant focus for Middle East countries whose economies traditionally relied heavily on hydrocarbon exports as a means of diversification. Saudi Arabia, the region’s largest oil exporter, embarked on a $100 billion tourism development program. Leisure projects in Saudi Arabia account for 52% of the region’s total leisure projects.
Top 5 Developers
There are many mega leisure developments in the region. Many are over $1 billion in value. To identify the top 5 developers, one must look at the value of their new developments and the number of new developments in their portfolio. On this basis, the top 10 Developers in the Middle East by the number and value of new assets under development are:
- Umm Al Qura Development & Construction Co. (KSA)
- Diriyah Gate Development Authority (KSA)
- Taiba Investments (KSA)
- Public Investment Fund (KSA)
- Department of Culture and Tourism (UAE)
The top 5 developers in the Middle East Leisure development sector have a combined development portfolio exceeding $6 billion.
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