Saudi Arabia and Egypt dominate the upper end of the global hospitality construction market.
According to GlobalData’s latest project tracking, six of the ten largest hospitality developments worldwide are located in the two countries. Together, they account for some of the most ambitious hotel, resort and tourism schemes currently moving through planning, pre-execution and construction.
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Leading the ranking is Rua Al Madinah Development in Saudi Arabia, valued at $24.7bn. Egypt’s South Med North Coast follows at $20.8bn, while the Red Sea Marassi Project ranks third at $19bn.
The scale of these projects quickly becomes apparent. Four projects are valued at more than $10bn, while several others exceed $5bn.
Saudi Arabia leads by value
Saudi Arabia places five projects in the top 20 and four in the top ten.
Rua Al Madinah Development is the largest scheme in the ranking, while King Salman Gate in Makkah, The New Murabba: Mukaab District, Al Balad Historic District and The Qiddiya Project: Resort Core all feature prominently.
The room numbers attached to some projects are equally striking. King Salman Gate in Makkah is planned to include around 70,000 rooms, while Rua Al Madinah Development is expected to provide roughly 47,000. Even lower-ranked schemes such as The Capital Cairo and Elbrus Bezengi Ski Resort Development involve accommodation capacity measured in the tens of thousands.
Casino resorts remain among the biggest investments
Large-scale casino and integrated resort developments continue to attract substantial investment.
Osaka Integrated Casino Resort ranks fifth globally at $8.5bn. Harmony Cove Resort and Casino in Jamaica is valued at $6.5bn, while the US appears three times through Hard Rock Las Vegas Hotel and Casino, Bally’s Bronx Casino and 2601 S. Las Vegas Blvd Resort and Sports Arena.
Vietnam’s Binh Dinh Superyacht-Resort Complex and Hoiana Casino Resort Complex reinforce the continued appeal of destination-led resort investment across South-East Asia.
Where the biggest projects are concentrated
The ranking is notable for its concentration. Saudi Arabia, Egypt and the US account for 12 of the 20 projects listed.
It is also notable how advanced many of the schemes have become. Most are already in execution or pre-execution, rather than sitting at an early concept stage.
These projects now have to move from ambition to delivery. The world’s largest hospitality developments attract attention because of their size. Their long-term significance will depend on whether they open on time, at the expected scale and into markets capable of supporting them.
Extracted and interpreted from a GlobalData report and project-tracking data on leisure and hospitality construction projects. Figures and examples cited are attributed to GlobalData’s project pipeline insights.
To access the full report, visit the GlobalData Construction Intelligence Centre: www.globaldata.com/industries/construction.
