Population Growth Fueling “Construction Mega Cities”
In a recent report by Construction Dive, there is over $5.3 trillion in construction investment in over 50 “construction mega cities” across the world. Cities receive the “mega” ranking when over $30 billion is in the pipeline for construction.
According to Construction Drive, “One of the key drivers of construction activity in these cities is population growth. Today, more than half the world lives in urban areas and by 2050, that number will increase to two-thirds.”
There are 11 “construction mega cities” in North America, with two in Canada and 11 in the United States that made the wordwide top 50 with a combined construction investment pipeline of over $730 billion (US).