Madinat al-Hareer (Silk City) In Kuwait

The proposed city Madinat al-Hareer (Silk City), designed to wean Kuwait off its reliance on oil and better connect the Arab Gulf to Europe and Asia, is the centerpiece of the New Kuwait 2035 initiative. The city will be built in phases over a 25-year span, with Phase 1 starting in 2019. Silk City, now budgeted at $132 billion, is one of the world's largest and most expensive construction projects, yet it represents a minor percentage of the $1 trillion invested in Gulf region infrastructure.

While Madinat al-Hareer does not now hold the world record for the most expensive construction project, it is on track to do so in the near future. The city's crown gem, the skyscraper Burj Mubarak al-Kabir, is on track to surpass Dubai's Burj Khalifa as the world's highest structure, with a height of 1001 meters to honor the Arabian folklore collection One Thousand One Arabian Nights. A new rail network, an international airport, and an international hub will all be housed in this huge metropolis. More crucially, the city will have an Olympic-standard stadium, retail shops, entertainment facilities, and housing and employment for 700,000 people in order to boost Kuwait's tourism economy.

While Kuwait's ambition for Silk City is audacious, many are already questioning the project's viability, given the megaproject's sheer size and cost, and at least one expert believes the project will suffer. Despite the fact that the project was initially supposed to cost $86 billion, the most recent projections indicate that it is already 53 percent over budget.

Cost Estimation: $132 Billion