London has the second most valuable pipeline of infrastructure projects compared to the world’s other mega cities, according to data analytics firm GlobalData.
It has calculated the value of London’s construction pipeline to be £258bn. It puts London in second place, behind Dubai which has a construction pipeline worth of £293bn.
GlobalData analysed a total of 6,645 planned and ongoing construction projects around the world, with a total value of £3.3 trillion.
GlobalData economist Yasmine Ghozzi said: “London comes in second place after Dubai with a current pipeline of projects standing at US$328.6bn [£258bn]. The strong contribution from the commercial sector has helped to offset subdued civil engineering activity; with the uncertainty around Brexit causing nervousness in the construction sector.”
The United Nations predicts that, between 2016 and 2030, the percentage of the world’s population living in cities with at least 1M inhabitants is likely to grow from 23% to 27%, and the number of megacities is projected to increase from 31 to 41.
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