Saudi Arabia’s official confirmation that it will bid to host football’s Fifa 2034 World Cup gives the kingdom’s projects market a long-term pipeline of work. For the sector, the prospect of a 2034 World Cup in Saudi Arabia extends the pipeline of project activity by four years. It is the second time in recent weeks that Saudi Arabia has made noise about projects beyond 2030.  In September, Crown Prince Mohammed bin Salman al-Saud said he will shift his attention to Vision 2040, which he plans to launch in 2027 or 2028. Talk of projects post-2030 is crucial for Saudi Arabia’s attempts to develop contracting and supply chain capacity. Over the past two years, concern among project developers has grown that they will not be able to secure enough resources to complete their projects. When asked about investing in construction, a barrier typically cited by companies is the lack of a visible pipeline. The argument is that without clear project opportunities in the future, their investments may not generate sufficient returns. With Saudi Arabia now pushing the project pipeline out to 2034 and then to 2040, this hurdle has become much easier to jump. (ICE RIYADH)

Fonte notizia: construction week