In recent years, the cost of construction projects has increased due to technological demands, expensive raw materials and labor, and extravagant construction methods. The Building Cost Information Service reported a 40-year high in its material cost index in 2022. Moreover, stricter government regulations and a focus on reducing emissions have further driven up project costs, resulting in expenditures that often exceed tens of billions of dollars.
The following are some construction projects from around the world that each come with a significant price tag. Although, it is not a comprehensive list of the world’s most expensive projects, but rather a selection of some interesting projects that cost a lot.
Japan’s Kansai International Airport cost $20 billion.
To ease congestion at the adjacent Osaka Airport, the Kansai International Airport was constructed on a man-made island. The airport’s opening cost was predicted at 16 billion US dollars in 1994. However, the cost has since gone up to US$20 billion due to the inclusion of terminal buildings and soil remediation work.
UK’s Hinkley Point C, worth $31 billion
Since development began in 2016, the UK’s Hinkley Point C project has encountered severe opposition and delays. When the facility was first announced, the French energy juggernaut EDF stated that it will be completely operational by 2026. The project’s estimated current cost, however, is currently over US$31 billion, and the completion date has been postponed to 2027 as a result of many delays.
Kashagan Field, Kazakhstan – US$50 billion
Kashagan Field, located off the coast of Kazakhstan, was discovered to have up to 12 billion barrels of oil in 2000. The field, owned by a consortium of companies including Shell, TotalEnergies, and Inpex, features several artificial islands, with the largest known as D Island. Despite its high cost of US$50 billion, the site has faced setbacks, including a gas leak in 2022.
Dubailand, Dubai – US$64 billion
Dubailand, dubbed the Middle East’s answer to Walt Disney World, is a massive entertainment complex that includes a theme park, sports facilities, retail and entertainment complexes, and other attractions. Although the project has yet to be completed, its estimated cost of US$64 billion makes it the world’s most expensive entertainment complex.
King Abdullah Economic City – US$100 billion
King Abdullah Economic City in Saudi Arabia was first announced in 2005 by King Abdullah bin Abdulaziz Al Saud. The city features residential areas, businesses, and transport infrastructure, with a construction phase set to be completed by 2025. Once finished, the city will have the capacity to house up to two million residents, at an estimated cost of US$100 billion.
California High-Speed Rail, US – US$113 billion
Approved in 2008, the California High-Speed Rail project will link San Francisco and Los Angeles. The California High-Speed Rail Authority estimates that the current cost of construction for phase one is between US$76 billion and US$113 billion due to continually rising prices. By the end of the decade, the project is expected to be completed.
Saudi Arabia’s Neom, 500 billion dollars
The Public Investment Fund is said to be financing the $500 billion grandiose Neom project in Saudi Arabia. Neom will have 16 boroughs, including commercial regions, residential areas, entertainment hubs, and The Line, a 100-mile linear city. The city will be powered by green energy and designed to be carbon neutral, with an expected population of up to nine million. Neom city will also have a high-speed rail network that will allow residents to travel from one end of the city to another in just twenty minutes.