Latest news with #megaProjects
Zawya
2 days ago
- Business
- Zawya
Mace report reveals global economy is at risk of missing out on more than $1.5trln of economic growth by 2030
Study of over 5,000 mega and giga-projects and programmes and industry leader opinion reveal current trends and scale of risks to delivery New analysis indicates 11% of projects and programmes are at risk of significant delay or cancellation The commissioning of major programmes, which are becoming larger, more complex and more expensive, has resulted in the number increasing by 280% since 2010 USA leads the way with 1,663 projects announced since 2010, followed by India (729) and Saudi Arabia (577) Despite this backdrop of record levels of investment, the ability to deliver on time, on budget and with the promised economic and societal benefits remains an exception Solutions to this widespread challenge set out in Mace's latest report: The Future of Major Programme Delivery Dubai, United Arab Emirates – A new report analysing over 5,000 mega and giga-projects and programmes1 from countries around the globe has revealed for the first time that 11% are at risk of significant delay or cancellation. Moreover, despite the backdrop of record levels of investment, the ability to deliver on time, on budget and with the promised economic and societal benefits remains exceptional. The global analysis, conducted by delivery consultants and construction experts, Mace, titled The Future of Major Programme Delivery estimates these inefficiencies will mean the global economy is at risk of missing out on more than $1.5tn of economic growth by 2030 due to delayed mega-project delivery. As part of this, the report looks at different approaches to delivery and suggests actionable solutions centring around more collaborative models, including being more outcomes focused, having a 'one team' approach and sharing risk and reward. It also suggests taking more time up-front to ensure readiness, defining and agreeing good governance, having a clear scope definition and cost realism. The commissioning of major programmes, whether for energy, high-speed rail, hospitals or homes, schools or flood defences, as the climate changes and as urbanisation continues, has resulted in the number increasing by 280% since 2010, a trend set to continue. Dominated by the USA, with 1,663 projects announced since 2010, and driven by countries such as India (729), Saudi Arabia (577) and the UK (484), data from the report shows programmes are becoming larger, more complex and more expensive. Driven in part by political support and public investment, the top 10 live global projects looked at have a combined total value of US $685 billion. Davendra Dabasia, Chief Executive Officer for Mace Consult, says: 'When large-scale programmes are significantly delayed and go over budget, the focus on the positive impact they have is diluted. When major programmes exist to deliver beneficial outcomes for society, it's a factor that needs to be addressed. 'Many of the issues are systemic, often driven by national politics and policies, and reflect the challenging ecosystem that delivery takes place in. As major projects and programmes become larger and more complex, delivery models need to be agile to tackle challenges and capitalise on any new opportunities. The solution must rest with more collaborative delivery approaches that prioritise the creation of integrated teams aligned to common goals that seek the same positive outcomes.' Christopher Seymour, Managing Director for Middle East and Africa at Mace Consult, adds: 'This report arrives at a pivotal moment, with the Middle East and Africa region – particularly the UAE and Saudi Arabia – at the epicentre of a global construction boom. Saudi Arabia alone has seen a 643% increase in the number of active megaprojects since 2010, driven by Vision 2030 and landmark programmes like Diriyah, Qiddiya, and King Salman International Airport. 'The scale and complexity of major programmes like these demands a delivery approach that is collaborative, integrated, and focused on outcomes. It is about building trust, aligning incentives, and creating a one-team culture that empowers people to make the right decisions for the programme or project, not just their organisation.' The report highlights that as projects grow in size and scope so does the risk of delay. With longer timeframes, there is a higher chance of encountering significant external events such as a price shock, war or political upheaval. This is notwithstanding new digital tools, including AI systems that integrate cost and time overlays, and automation of processes designed to help boost productivity and enhance human capability. The paper is clear that the challenges faced in delivery are not a reflection of a lack of capability within the supply chain, but issues such high levels of bureaucracy, protracted consents processes and changes in scope and funding that industry must overcome. This is compounded by optimism bias, incomplete designs and pressure to 'get spades in the ground' without proper planning. The focus on tackling these challenges and the subsequent impact on cost and schedule continues to detract from the beneficial outcomes of these programmes. The report highlights that collaborative approaches result in a 4%-13% reduction in cost and a 50% reduction in the risk of projects being delivered late. With more than 11,000 live mega-programmes and 250 giga-programmes and projects currently in delivery around the globe, and the number growing, proponents of the report hope the focus on these will rest with the value they bring rather than on how they are delivered.
Sustainability Times
11-06-2025
- Business
- Sustainability Times
'Egypt's Visionary Project Unveiled': Skyscrapers Rising Amidst the Desert and Beside the Pyramids as Revolutionary New City Takes Shape
IN A NUTSHELL 🌍 The Jirian project aims to transform the desert west of Cairo into a thriving metropolis with an artificial Nile canal, part of Egypt's ambitious Nile Delta initiative. 💡 President Abdel Fattah al-Sisi's series of mega-projects , including Jirian, has significantly increased Egypt's external debt, reaching $155.2 billion by the end of 2024. , including Jirian, has significantly increased Egypt's external debt, reaching $155.2 billion by the end of 2024. 🏗️ The development promises to create approximately 250,000 jobs and features luxury residences , 80-story skyscrapers, and international educational and healthcare facilities. , 80-story skyscrapers, and international educational and healthcare facilities. 💧 With 97% of Egypt's fresh water coming from the Nile, the project highlights ongoing water security concerns amid the country's conflict over Ethiopia's Grand Renaissance Dam. Egypt's ambitious new urban project, Jirian, promises to transform the barren desert west of Cairo into a thriving metropolis. Unveiled on Sunday, this development features an artificial Nile canal, part of Egypt's grand Nile Delta initiative. This massive agricultural project aims to reclaim over 3.9 million acres of desert land, boosting strategic crop production and reducing the nation's food import bill. With a commitment to urban growth, Egypt continues its trend of mega-projects under President Abdel Fattah al-Sisi, despite rising external debt concerns. The country's reliance on international financial support has also grown, prompting questions about the sustainability of such ventures. Jirian: A New Urban Vision in the Desert The unveiling of the Jirian project marks a significant step in Egypt's urban development strategy. Located to the west of Cairo, this new city is designed to be a beacon of modernity in what was once a barren desert landscape. The city, whose name translates to 'Flow' in Arabic, is part of an ambitious initiative to revitalize the Nile Delta region. By reclaiming over 3.9 million acres of desert, Egypt aims to increase the production of essential crops like wheat and corn, thereby reducing its dependence on food imports. The project's scope is unprecedented, promising to create a sustainable urban environment complete with industries, logistics platforms, and homes for millions of families. At the heart of Jirian's design is an artificial canal derived from the Nile, which will wind through the city. This canal is not only a picturesque centerpiece but also a vital source of irrigation for surrounding agricultural lands. The integration of water resources into the city's infrastructure highlights Egypt's commitment to balancing urbanization with environmental sustainability. Anurag Bajpayee's Gradiant: Engineering the Future of Industrial Water The Economic Implications of Mega Projects Egypt's push for rapid urbanization under President Abdel Fattah al-Sisi has led to a series of mega-projects, including the new administrative capital east of Cairo. While these projects are deemed essential for long-term economic growth, they have significantly increased the nation's external debt. Since 2015, Egypt's foreign debt has quadrupled, reaching a staggering $155.2 billion by the end of 2024. This surge in debt raises concerns about the financial sustainability of such expansive endeavors. To support these projects, Egypt has sought financial assistance from the International Monetary Fund and the European Union. These international bodies have provided billions in aid, with the EU recently pledging additional billions to ensure Egypt's financial stability. However, the reliance on external funding underscores the precarious nature of Egypt's economic strategy, prompting questions about the long-term viability of its development plans. 'America's Cities Are Sinking Fast': 28 Urban Giants Like New York and Houston Are Quietly Crumbling Beneath Our Feet Jobs and Infrastructure: The Promise of Jirian The Egyptian government has high hopes for Jirian, projecting the creation of approximately 250,000 jobs. Prime Minister Moustafa Madbouli has described the project as a 'revolution in urban and development planning,' underscoring its potential impact on the nation's economy. The city will feature a wide range of infrastructure, including luxury residences, 80-story skyscrapers, international universities, and hospitals. It will also offer an eco-friendly hotel, commercial zones, and a cultural and media district. Strategically located, Jirian will be minutes away from the Grand Egyptian Museum, the Giza Pyramids, and the nearby Sphinx International Airport. This proximity to key landmarks and transportation hubs enhances its appeal as a modern urban center. The project's developers have committed to a five-year timeline for completion, indicating a rapid pace of construction and development. Chinese Product Designer Yihan Luo Showcased 'Pikapoo' at Milan Design Week 2025 Water Security and Environmental Concerns The development of Jirian takes place against the backdrop of Egypt's ongoing water security issues. With 97% of its fresh water derived from the Nile, Egypt is deeply concerned about the potential impact of Ethiopia's Grand Renaissance Dam. This longstanding conflict with Addis Ababa highlights the vulnerability of Egypt's water resources, which are critical to both its urban and agricultural development plans. The integration of a Nile-connected canal into Jirian's design reflects an effort to address these concerns by ensuring a reliable water supply for the city and its agricultural areas. However, the broader implications of water management and resource allocation remain pressing issues for Egypt's future. As the country continues to navigate these challenges, the success of projects like Jirian will depend on their ability to harmonize urban development with environmental stewardship. As Egypt forges ahead with its ambitious urban plans, the world watches closely to see how these projects will shape the nation's future. Will the vision of a thriving metropolis in the desert be realized, or will the challenges of debt and resource management prove insurmountable? The answer to these questions will have profound implications for Egypt and its place in the global community. Our author used artificial intelligence to enhance this article. Did you like it? 4.3/5 (26)
Zawya
04-06-2025
- Business
- Zawya
Omnix launches key solutions to advance regional project delivery
Omnix International, a leading provider of digital transformation and innovative technology solutions, has announced the expansion of its portfolio with a new suite of integrated digitised construction workflows offerings. These solutions are designed to digitise critical workflows across the construction lifecycle, fundamentally transforming how projects are planned, executed, and optimized through data intelligence, automation, and intelligent systems, said a statement from Omnix. Tailored to address the unique needs of the Middle East region, this strategic move underscores Omnix's vision to drive innovation, boost efficiency, and help clients meet evolving demands to build faster, smarter, and more sustainably. This launch comes at a pivotal time for the construction sector, which faces mounting challenges including labor shortages, cost pressures, regulatory demands, and outdated processes. With the Middle East witnessing rapid urban expansion and executing mega projects, the need for advanced digital solutions has never been greater. According to RICS and McKinsey, the global construction industry continues to lag in digital adoption - especially in areas like ESG reporting, carbon tracking, and lifecycle management. Omnix's new offerings directly address these gaps with integrated tools that promote smarter planning, improved collaboration, and measurable outcomes, said its top official. "Our mission to digitally transform construction workflows is aimed at empowering clients to build with greater confidence, efficiency, and purpose. This marks a key milestone in our journey to deliver value-driven, future-ready solutions," remarked its CEO Walid Gomaa. "Our focus on regional priorities, data interoperability, and intelligent insights will help clients reduce risk, enhance sustainability, and achieve stronger business outcomes across project lifecycles," he noted. Alaf Abdul Latheef, Regional Business Unit Head, said: "Our offerings are built to address regional challenges with a flexible and modular framework. Leveraging cutting-edge technologies and architectural expertise, we have designed a solution that adapts to our clients' realities - enhancing compliance, visibility, and collaboration without requiring a complete overhaul of existing systems." Omnix said the newly launched digitised construction workflows includes centralised tendering and bid management, real-time cost control and scheduling dashboards, digital twin integration, field safety and compliance monitoring, built-in ESG and carbon analytics, AI-enhanced document and RFI management, and mobile-enabled tools for site access and task tracking. "Our approach is focused on plug-and-play compatibility with existing software, custom integrations that bridge data between design, construction and operations phases, and strengthened with AI-enabled data insights," he noted. Early implementations are already underway, with broader rollouts scheduled for 2025 and 2026. This phased approach enables Omnix to fine-tune its solutions based on real-world feedback and ensure alignment with regional workflows and compliance standards, he added. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Al Bawaba
04-06-2025
- Business
- Al Bawaba
Omnix Launches Digitized Construction Workflows Offerings to Advance Project Delivery Across the Middle East
Omnix International, a leading provider of digital transformation and innovative technology solutions, today announced the expansion of its portfolio with a new suite of integrated Digitized Construction Workflows offerings. These solutions are designed to digitize critical workflows across the construction lifecycle, fundamentally transforming how projects are planned, executed, and optimized through data intelligence, automation, and intelligent to address the unique needs of the Middle East region, this strategic move underscores Omnix's vision to drive innovation, boost efficiency, and help clients meet evolving demands to build faster, smarter, and more launch comes at a pivotal time for the construction sector, which faces mounting challenges including labor shortages, cost pressures, regulatory demands, and outdated processes. With the Middle East witnessing rapid urban expansion and executing mega projects, the need for advanced digital solutions has never been greater. According to RICS and McKinsey, the global construction industry continues to lag in digital adoption—especially in areas like ESG reporting, carbon tracking, and lifecycle management. Omnix's new offerings directly address these gaps with integrated tools that promote smarter planning, improved collaboration, and measurable Gomaa, CEO of Omnix International, said, 'Our mission to digitally transform construction workflows is aimed at empowering clients to build with greater confidence, efficiency, and purpose. This marks a key milestone in our journey to deliver value-driven, future-ready solutions. Our focus on regional priorities, data interoperability, and intelligent insights will help clients reduce risk, enhance sustainability, and achieve stronger business outcomes across project lifecycles.'Alaf Abdul Latheef, Regional Business Unit Head, added, 'Our offerings are built to address regional challenges with a flexible and modular framework. Leveraging cutting-edge technologies and architectural expertise, we have designed a solution that adapts to our clients' realities—enhancing compliance, visibility, and collaboration without requiring a complete overhaul of existing systems.'The newly launched Digitized Construction Workflows includes centralized tendering and bid management, real-time cost control and scheduling dashboards, Digital twin integration, Field safety and compliance monitoring, Built-in ESG and carbon analytics, AI-enhanced document and RFI management, and Mobile-enabled tools for site access and task the core of the solution is the company's 'interoperability-first approach' which has a connected layer that allows clients to retain their preferred tools while unlocking enhanced visibility, regional customization and cross-platform data flow. Omnix's approach is focused on plug-and-play compatibility with existing software, custom integrations that bridge data between design, construction and operations phases, and strengthened with AI-enabled data implementations are already underway, with broader rollouts scheduled for 2025 and 2026. This phased approach enables Omnix to fine-tune its solutions based on real-world feedback and ensure alignment with regional workflows and compliance standards. Omnix's strength in the construction sector is underpinned by a multidisciplinary team with deep expertise in BIM, project management, AI, digital twin technologies, and secure cloud infrastructure. With certified professionals in PMP, LEED, and advanced analytics, Omnix is positioned to deliver scalable, future-proof solutions for the region's rapidly growing development landscape.
Trade Arabia
03-06-2025
- Business
- Trade Arabia
Omnix launches key solutions to advance regional project delivery
Omnix International, a leading provider of digital transformation and innovative technology solutions, has announced the expansion of its portfolio with a new suite of integrated digitised construction workflows offerings. These solutions are designed to digitise critical workflows across the construction lifecycle, fundamentally transforming how projects are planned, executed, and optimized through data intelligence, automation, and intelligent systems, said a statement from Omnix. Tailored to address the unique needs of the Middle East region, this strategic move underscores Omnix's vision to drive innovation, boost efficiency, and help clients meet evolving demands to build faster, smarter, and more sustainably. This launch comes at a pivotal time for the construction sector, which faces mounting challenges including labor shortages, cost pressures, regulatory demands, and outdated processes. With the Middle East witnessing rapid urban expansion and executing mega projects, the need for advanced digital solutions has never been greater. According to RICS and McKinsey, the global construction industry continues to lag in digital adoption - especially in areas like ESG reporting, carbon tracking, and lifecycle management. Omnix's new offerings directly address these gaps with integrated tools that promote smarter planning, improved collaboration, and measurable outcomes, said its top official. "Our mission to digitally transform construction workflows is aimed at empowering clients to build with greater confidence, efficiency, and purpose. This marks a key milestone in our journey to deliver value-driven, future-ready solutions," remarked its CEO Walid Gomaa. "Our focus on regional priorities, data interoperability, and intelligent insights will help clients reduce risk, enhance sustainability, and achieve stronger business outcomes across project lifecycles," he noted. Alaf Abdul Latheef, Regional Business Unit Head, said: "Our offerings are built to address regional challenges with a flexible and modular framework. Leveraging cutting-edge technologies and architectural expertise, we have designed a solution that adapts to our clients' realities - enhancing compliance, visibility, and collaboration without requiring a complete overhaul of existing systems." Omnix said the newly launched digitised construction workflows includes centralised tendering and bid management, real-time cost control and scheduling dashboards, digital twin integration, field safety and compliance monitoring, built-in ESG and carbon analytics, AI-enhanced document and RFI management, and mobile-enabled tools for site access and task tracking. "Our approach is focused on plug-and-play compatibility with existing software, custom integrations that bridge data between design, construction and operations phases, and strengthened with AI-enabled data insights," he noted. Early implementations are already underway, with broader rollouts scheduled for 2025 and 2026.
