Top 10 Most Expensive Construction Projects in The World

Mixi September 05, 2021 | 19:23

All around the world previously unfathomable feats are becoming possible, buildings are getting taller and cities more expansive.

Top 10 Most Expensive Construction Projects in The World of All Time

Illustrated picture. Photo: Mixi's

Man has worked out on many projects for the development. Different projects have been launched in different parts of the world. Here we are going to present the list of the ten most expensive construction projects that have ever been completed in the history of mankind. Maximum of these projects were not among the most expensive projects at their initial time, but at the time of their completion, they had consumed so many resources that now they are among the most expensive projects.

The present development and progress in the world is the evolutionary result of human brainpower and earthly sources. It won’t be inappropriate to say that only human brainpower wouldn’t have been sufficient without earthly sources. Nowadays money has come forward as the briefest and compact form of earthly sources. Expensive projects are being launched day by day to sail out in the sea of development. Money makes the mare go or we can say that money changes the world, sometimes literally. The human race of the present era can build and move massive things, with incredible speed. The present human has dug through mountains, made new islands, diverted rivers, and many other impossible things that were once considered impossible even in the near past. This journey of development is not going to stop at any rate.

List of the 10 Most Expensive Construction Projects in The World of All Time

1. TEN-T Core Network in the EU: $600 Billion by 2050

2. The US Interstate Highway System – $459 Billion

3. International Space Station (ISS): $230+ Billion by 2030

4. Madinat al-Hareer (Silk City) in Kuwait: $132 Billion

5. Kashagan Fields – $116 Billion

6. High-Speed Rail in California: $100+ billion

7. Forest City in Malaysia: $100 billion

8. King Abdullah Economic City – $86 Billion

9. Dubailand (Amusement Park) – worth over $76 billion

10. Songdo International Business District – $40 Billion

What are the 10 Most Expensive Construction Projects in The World of All Time?

1. TEN-T Core Network in the EU: $600 Billion by 2050

Photo: Rupprecht Consult

The TEN-T or Trans-European Transport Network is billed as a “Europe-wide network of railway lines, roads, inland waterways, maritime shipping routes, ports, airports, and railroad terminals” with the objective not only to build new infrastructure but also to reduce the environmental impact of transport while increasing energy efficiency and safety. This ambitious project includes, but is not limited to, 9 core corridors that reflect major long-distance transport movements and routes throughout Europe. The TEN-T is not only the largest but also the most expensive construction project in world history–the estimated total cost is €500 billion ($600 billion). According to experts, it will cost at least €250 billion to remove bottlenecks and fill in gaps in the core transportation infrastructure.

It’s not surprising that the project is experiencing severe schedule and cost overruns. Begun in 2013, it’s no longer expected to be operational by its original 2030 target. And according to a recent audit of the project by a commission, changes in design and scope over time have “led to cost increases of €17.3 billion (or 47 %) compared to initial cost estimates.”

2. The US Interstate Highway System – $459 Billion

Photo: Interesting Engineering

While we go to look for the most expensive construction project in the world. We find that it is The Us Interstate Highway System. This project cost America $459 billion. It is the most expensive project of the world in the known human history. President Dwight D. Eisenhower initiated it with the idea that it would help mobilize infantry in an emergency. He proposed the project as being crucial for national defense. Its basic purpose was not transportation. The project was initiated in 1956. This most expensive project of the world involved creating new routes, and converting old routes to serve as “interstates or interlinks among American states.” Nebraska was the first state to complete all of its internal parts for the Interstate Highway System in 1974. The project was given the final touch in 1992, the I-70 through Colorado.

This most expensive construction project has paid back to America many times than its cost price. The road web was very helpful while hurricane Katrina was devastating everything.

3. International Space Station (ISS): $230+ Billion by 2030

Photo:1build

The International Space Station (ISS) has been described as the most expensive single item ever constructed. In 1998, the project was originally budgeted for $150 billion, making it the world’s largest megaproject at the time construction began. A joint project developed in collaboration with 15 different nations, the space station’s length is longer than a U.S. football field and was painstakingly constructed piece by piece while in orbit via spacewalking astronauts and robotics in 30 missions over 10 years.

However, the price tag for the station has only continued to balloon as the lifespan of the project increased and new sections and new equipment were added–a cost surplus that could have been preempted in the planning state. In fact, by 2030, when the project is now expected to complete, the total estimated cost of the station will be at least $230 billion. Some argue the final price tag will be closer to $1 trillion–dwarfing other space construction projects like the human Mars mission, which is expected to cost a meager $40 billion in comparison.

4. Madinat al-Hareer (Silk City) in Kuwait: $132 Billion

Photo: Business - Insider

Planned as a solution to the twin issues of overpopulation and overloaded infrastructure in Kuwait, the proposed city Madinat al-Hareer (Silk City), is the centerpiece of the New Kuwait 2035 program, designed to wean the country off its dependence on oil and better link the Arab Gulf to Europe and Asia. The city will be constructed in phases over a period of 25 years, with Phase 1 commencing in 2019. Currently budgeted at $132 billion, Silk City is one of the biggest and most expensive buildings in the world, but it is just a small portion of the $1 trillion currently being invested in Gulf region infrastructure.

While Madinat al-Hareer may not hold the world record for cost, it is set to break another record. The jewel of the city, the skyscraper Burj Mubarak al-Kabir, is on target to become the tallest structure in the world–exceeding Dubai’s Burj Khalifa and will top 1001 meters to reflect the Arabian folklore collection One Thousand One Arabian Nights. This massive metropolis will also house a new rail network, an international airport, and an international hub. More importantly, because the city is designed to bolster Kuwait’s tourism industry, the city will also include an Olympic-standard stadium, retail outlets, entertainment facilities, and housing and workplaces for 700,000 people.

While Kuwait’s vision for Silk City is bold, many are already questioning the soundness of the project given the sheer size and expense of the megaproject, and at least one expert suggests the project will likely suffer. Although the project was initially estimated to cost $86 billion, latest estimates suggest it is already 53% over budget.

5. Kashagan Fields – $116 Billion

Photo: Caspian News

One of the most expensive construction projects in the world is kashagan fields. $116 billion has been spent on fixing it. It is a multinational project. The companies involved in it are: Total, Shell, Exxon Mobil, China National Petroleum Corp, INPEX KazMunaiGas, and AgipKCO, with Shell responsible for the production phase. It is an oil extracting project launched in the Caspian Sea. The Kashagan Fields represent the largest oil discovery made in the last 40 years. It is expected to produce more than 90,000 barrels of oil per day after 2018. Some unexpected troubles caused the project to get a little bit late like leaks in its pipes. The other main difficulty to delay it was that the fields are under high pressure, which makes drilling into them very hazardous at large. Apart from all these obstacles, the project is now operational.

6. High-Speed Rail in California: $100+ billion

Photo:1build

If there were a poster child for megaprojects plagued by bad luck, California’s High-Speed Rail project would be the most likely candidate for the award. The High-Speed Rail project, which is being built by 4000 workers across the state, is devised to connect the megaregions of California and will be the first high-speed rail system in the United States when completed. Phase 1 of the project will connect San Francisco to the Los Angeles basin in less than 3 hours at speeds exceeding 200 miles per hour. Phase 2 will extend the line to Sacramento and San Diego, for a total of 800 miles.

However, the project is not only over budget, but also experiencing massive delays. When the project was approved in 2008, it had an initial price tag of $33 billion, but that budget has since increased to at least $100 billion. Indeed, there are now more than $800 million in cost overruns on the 65-mile, Kings County segment of the rail alone, which is now 62% over budget. Beset by delays, the project was supposed to be operational by 2020 and is now in danger of missing its new operational date of 2030 by at least 2 years, which will only increase cost overruns. Many of the issues that have plagued the project are the result of the state accepting the lowest bid by a design contractor with an extremely inaccurate cost estimate that promised $300 million in cost savings, but only delivered one expensive change order after another.

The California High-Speed Rail Authority (CHSRA), which oversees the project, contends it’s making progress on the rail despite these setbacks. In the recently revised business plan, CHSRA maintains that construction will either be “completed or underway on 83 of 93 structures and on 106 of 119 miles of guideway by the end of 2021.”

7. Forest City in Malaysia: $100 billion

Photo: PropSocial

Forest City is the smartest green city or luxury residential development being built in partnership with Country Garden, China’s largest developer, as part of China’s “belt and road” economic initiative. Begun in 2014, Forest City is constructed on four man-made islands off the coast of Johor in Malaysia and set on over 3,425 acres against seagrass, flora, and fauna. The city is expected to be completed by 2035.

Pitched by its developers as “jade carved out of the ocean,” the city tries to reimagine futurism from an ecological point of view, including applying the “most advanced 3-D multi-layered urban planning concept” with lush green surroundings, vehicles underground that remove automobile pollution, low energy consumption, and recycled rainwater. Phase 1 development includes a transportation hub, an exhibition center, and clubhouse, a man-made beach, coastal commercial streets, luxury hotels, waterfront apartments, villas, and even an international school. Eventually, the city will include an international shopping “paradise” and premium hospitals. Villas surrounded by ocean water, seaside bungalows, vertical greeneries, sky gardens, and building facades covered with vegetation? Forest City is not just a dream city–it’s a veritable utopia, or so it would appear.

However, the final construction of the project is being delayed due to friction between the Malaysian government and Country Garden regarding China’s aggressive economic expansion in Malaysia, substantially increasing its cost. In fact, according to authorities, almost 80% of the city’s unit buyers are Chinese–rather than Malaysian– and official signage and schools are in mandarin exclusively. Although the city was built to house over 700,000 residents, the political strife has resulted in fewer than 5,000 units signed and huge profit losses for its developer. Like other massive megaprojects which started with the best of intentions, the project has spiraled out of control, with construction delayed or halted, increasing cost and schedule overruns.

8. King Abdullah Economic City – $86 Billion

Photo: The World

King Abdullah Economic City project is one of the most expensive projects of the world. It stands 4th on the list. Still, it is not finished. When finished, the King Abdullah Economic City will have an estimated cost of $86 billion. Located a little over an hour away from Makkah, the project city is certain to become a brand new tourist attraction for Saudi Arabia. The city will include entertainment centers, high-class hotels, many luxury villas, some significant universities, and a massive airport.

The King Abdullah Economic City is mostly being built by international real estate group Emaar Properties. The group is well known for building the world’s tallest building, the Burj al-Khalifa, in Dubai. Another company Ericsson will be working on information and communication technology.

9. Dubailand (Amusement Park) – worth over $76 billion

Photo: Dubai Explorer

An ambitious leisure project that, although unfinished, is one of the most costly construction projects in the world. If Dubai has decided that it needs a family-oriented attraction, then it will not stand up to the price.

Dubailand is expected to open before the end of 2020. It will become the largest and most expensive entertainment venue in the world with design elements based on Arabic folklore, as well as a Disney theme park and an IMAX cinema. Also on its territory will be copies of the most famous landmarks in the world, including the Taj Mahal and the Eiffel Tower.

10. Songdo International Business District – $40 Billion

Photo: wonderslist

Among the most expensive projects of the world, Songdo International Business District stands 6th in the list. South Korea has launched this project near Incheon International Airport. Its estimated cost price is $40 billion. The project is being built on land reclaimed from the ocean off of Seoul, South Korea. It will be a “smart city” like no other, complete with automatic recycling plants ubiquitous WiFi, and many other technological innovations. Korea is the first country to present this model in the world.

Some models of landmarks from other cities will be built there, including one of Central Park. According to blueprints, it will have a small island full of various birds, rabbits, and deer that roam around. Songdo IBD is being built to attract businesses and tourists. China is also in follow up of this project but still with vague blueprints.