Rising from the sands of the Middle East is a construction boom the likes of which has never been seen before.
Evidence of this can be found in the fact that more than 25 per cent of the world's construction cranes are now located in the Middle East, and more than US$1trillion is currently being invested in Middle Eastern construction projects.
According to the Hong Kong Trade Development Council, about 20 per cent of this total is made up of construction projects under way in Saudi Arabia.
Planned as a 'modern, world-class metropolis', the King Abdullah Economic City (KAEC), under construction on the coast of the Red Sea, 100km north of Jeddah, will account for about US$26.6billion of this investment, and will be another jewel in the crown of the Saudi Kingdom. The city will cover over 168 sqkm and will be divided into six distinctive parts: the seaport, industrial zone, central business district, resort district, an educational zone and residential communities.
The main aim of the city is to integrate into the kingdom's continuing drive to expand the economy, create employment opportunities for youngsters, be a catalyst for foreign investment inflow and ultimately boost commerce and industry.
Emaar the Economic City (EEC), a consortium headed by global real estate major Emaar Properties and numerous high profile investors from Saudi Arabia, has already made substantial progress on work for the project.
EEC chairman Mohamed Ali Alabbar said: '[The city] is more than a property development - it will usher in a new era in the economic growth of Saudi Arabia.