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Saudi Arabia Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (Q2 2024)

Publisher GlobalData
Published Jun 28, 2024
SKU # GBDT19139289

Description

Saudi Arabia Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (Q2 2024)

Summary

GlobalData’s Construction in Saudi Arabia - Key Trends and Opportunities to 2028 (Q2 2024) report provides detailed market analysis, information, and insights into Saudi Arabia’s construction industry, including -
  • Saudi Arabia’s construction industry's growth prospects by market, project type, and construction activity
  • Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in Saudi Arabia’s construction industry
  • Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
The construction industry in Saudi Arabia is expected to grow by 4.6% in real terms in 2024, supported by investments in energy, tourism and industrial projects. As part of the National Investment Strategy (NIS), the government aims to improve the investment climate and increase net foreign direct investment (FDI) flows in line with the government’s aim to increase the number of industrial establishments in the Kingdom from 8,800 in 2019 to 36,000 in 2035. According to the Saudi Central Bank (SAMA), the total credit facilities provided to micro, small, and medium enterprises (MSMEs) grew by 18.6% year-on-year (YoY) in 2023, preceded by an annual growth of 13.6% in 2022.

The construction industry is expected to grow at an annual average growth rate of 5.1% between 2025 to 2028, supported by public and private investments in oil and gas projects, and the government’s aim to attract 150 million tourists annually, as part of its Vision 2030 plan. According to government estimates, as of June 2024, the country has 255 tourism infrastructure projects worth SAR6.4 trillion ($1.7 trillion). In May 2024, the state-owned petroleum and natural gas company Saudi Aramco announced its plan to launch 99 projects between 2024 and 2026, aimed at boosting oil and gas output, enhancing treatment capacity, and modernizing facilities. These projects include 58 oil, gas, and petrochemicals projects, 22 pipeline and distribution projects, and 19 civil and marine infrastructure projects. Some of the specific projects under this initiative include the Marjan field gas lift program, Shaybah dry gas handling, and upgrades to the sulphur recovery units and the Ras Tanura refinery. Some of the largest investments will be made in development of three liquids-to-chemicals (LTC) complexes at Yasref, Samref, and Sasref refineries.

Scope

This report provides a comprehensive analysis of the construction industry in Saudi Arabia. It provides -
  • Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Saudi Arabia, featuring details of key growth drivers.
  • Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
  • Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
  • Listings of major projects, in addition to details of leading contractors and consultants
Reasons to Buy
  • Identify and evaluate market opportunities using GlobalData's standardized valuation and forecasting methodologies.
  • Assess market growth potential at a micro-level with over 600 time-series data forecasts.
  • Understand the latest industry and market trends.
  • Formulate and validate strategy using GlobalData's critical and actionable insight.
  • Assess business risks, including cost, regulatory and competitive pressures.
  • Evaluate competitive risk and success factors.

Table of Contents

1 Executive Summary
2 Construction Industry: At-a-Glance
3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 Risk Profile
4 Construction Outlook
4.1 All Construction
Outlook
Latest news and developments
Construction Projects Momentum Index
4.2 Commercial Construction
Outlook
Project analytics
Latest news and developments
4.3 Industrial Construction
Outlook
Project analytics
Latest news and developments
4.4 Infrastructure Construction
Outlook
Project analytics
Latest news and developments
4.5 Energy and Utilities Construction
Outlook
Project analytics
Latest news and developments
4.6 Institutional Construction
Outlook
Project analytics
Latest news and developments
4.7 Residential Construction
Outlook
Project analytics
Latest news and developments
5 Key Industry Participants
5.1 Contractors
5.2 Consultants
6 Construction Market Data
7 Appendix
7.1 What is this Report About?
7.2 Definitions
7.3 CRI Methodology
About GlobalData
Contact Us
List of Tables
Table 1: Construction Industry Key Data
Table 2: Saudi Arabia, Key Economic Indicators
Table 3: Saudi Arabia, Commercial Construction Output by Project Type (Real % Change), 2019-28
Table 4: Saudi Arabia, Top Commercial Construction Projects by Value
Table 5: Saudi Arabia, Industrial Construction Output by Project Type (Real % Change), 2019-28
Table 6: Saudi Arabia, Top Industrial Construction Projects by Value
Table 7: Saudi Arabia, Infrastructure Construction Output by Project Type (Real % Change), 2019-28
Table 8: Saudi Arabia, Top Infrastructure Construction Projects by Value
Table 9: Saudi Arabia, Energy and Utilities Construction Output by Project Type (Real % Change), 2019-28
Table 10: Saudi Arabia, Top Energy and Utilities Construction Projects by Value
Table 11: Saudi Arabia, Institutional Construction Output by Project Type (Real % Change), 2019-28
Table 12: Saudi Arabia, Top Institutional Construction Projects by Value
Table 13: Saudi Arabia, Residential Construction Output by Project Type (Real % Change), 2019-28
Table 14: Saudi Arabia, Top Residential Construction Projects by Value
Table 15: Saudi Arabia, Key Contractors
Table 16: Saudi Arabia, Key Consultants
Table 17: Saudi Arabia, Construction Output Value (Real, $ Million)
Table 18: Saudi Arabia, Construction Output Value (Nominal, SAR Million)
Table 19: GlobalData Construction Market Definitions
Table 20: Risk Dimensions
Table 21: Ratings, Scores and Definitions
List of Figures
Figure 1: Middle East and North Africa, Construction Output (Real % Change), 2022-28
Figure 2: Saudi Arabia, Construction Output by Sector (Real % Change), 2022-24 and 2025-28
Figure 3: Saudi Arabia, Risk Summary
Figure 4: Saudi Arabia, Risk Regional Comparison
Figure 5: Saudi Arabia, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2019-28
Figure 6: Saudi Arabia, Construction Output Value, by Sector (Real, $ Million), 2019-28
Figure 7: Saudi Arabia, Construction Value Add (SAR Million, 2018 Constant Prices)
Figure 8: Saudi Arabia, Gross Fixed Capital Formation in Construction (SAR Million, 2018 Constant Prices)
Figure 9: Saudi Arabia, Real Estate Loans from Banks (SAR Million)
Figure 10: Saudi Arabia, Real Estate Price Index (2014=100)
Figure 11: Saudi Arabia, Construction Projects Momentum Index
Figure 12: Middle East and North Africa, Construction Projects Momentum Index
Figure 13: Saudi Arabia, Commercial Construction Output by Project Type (Real, $ Million), 2019-28
Figure 14: Saudi Arabia, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 15: Saudi Arabia, Wholesale and Retail Trade, Restaurants and Hotels Value Add (SAR Million, 2018 Constant Prices)
Figure 16: Saudi Arabia, Commercial Real Estate Price Index (2014=100)
Figure 17: Saudi Arabia, Industrial Construction Output by Project Type (Real, $ Million), 2019-28
Figure 18: Saudi Arabia, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 19: Saudi Arabia, Manufacturing Value Add (SAR Million, 2018 Constant Prices)
Figure 20: Saudi Arabia, Mining and Quarrying Value Add (SAR Million, 2018 Constant Prices)
Figure 21: Saudi Arabia, Non-Oil Sector's Value Add (SAR Million, 2018 Constant Prices)
Figure 22: Saudi Arabia, Infrastructure Construction Output by Project Type (Real, $ Million), 2019-28
Figure 23: Saudi Arabia, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 24: Saudi Arabia, Transport, Storage and Communication Value Add (SAR Million, 2018 Constant Prices)
Figure 25: Saudi Arabia, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2019-28
Figure 26: Saudi Arabia, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
Figure 27: Saudi Arabia, Electricity, Gas, and Water Services Value Add (SAR Million, 2018 Constant Prices)
Figure 28: Saudi Arabia, Oil Sector’s Value Add (SAR Million, 2018 Constant Prices)
Figure 29: Saudi Arabia, Institutional Construction Output by Project Type (Real, $ Million), 2019-28
Figure 30: Saudi Arabia, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 31: Saudi Arabia, Residential Construction Output by Project Type (Real, $ Million), 2019-28
Figure 32: Saudi Arabia, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 33: Saudi Arabia, Real Estate Value Add (SAR Million, 2018 Constant Prices)
Figure 34: Saudi Arabia, Residential Real Estate Price Index (2014=100)
Figure 35: Saudi Arabia, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 36: Saudi Arabia, Headquarters of Key Consultants (% of Total Project Pipeline)

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