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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 (Q4 2024)

Publisher GlobalData
Published Dec 31, 2024
Length 47 Pages
SKU # GBDT19677269

Description

Saudi Arabia Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (Q4 2024)

Summary

GlobalData’s Construction in Saudi Arabia - Key Trends and Opportunities to 2028 (Q4 2024) report provides detailed market analysis, information and insights into the Saudi Arabian construction industry, including -
  • The Saudi Arabian 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 the Saudi Arabian 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 estimated to grow by 4.6% in real terms in 2024, supported by investments in housing and, energy infrastructure projects, coupled with investments to improve infrastructure, in line with the government’s goal of conducting the FIFA World Cup 2034. Reflecting the continuous optimism in the construction industry, the total value of construction contracts awarded in the Kingdom surged by 47% YoY in the first half of 2024, to SAR185 billion ($49.3 billion), according to government data released in November 2024. Oil and gas, real estate, and water sectors accounted for most of the contracts awarded during that period.

The construction industry is expected to record an annual average growth rate of 5.2% from 2025 to 2028, supported by investments in the transport, electricity, housing, and tourism infrastructure projects and of course the $850 billion-plus giga projects program. Construction commenced on the SAR187.5 billion ($50 billion) Mukaab project in Saudi Arabia, in October 2024. This project, which is expected to become the largest building in the world, will feature two million square feet (ft2) of floor space dedicated to fine dining, retail, offices, and residential units. Among others, the building will house 104,000 residential units and 9,000 hotel rooms. The project is expected to contribute more than SAR191.3 billion ($51 billion) to the non-oil GDP and create approximately 334,000 jobs. The project, which is expected to be completed by 2030, will create 900 construction jobs. In addition to the Mukaab project, other significant developments that will boost the industry’s growth over the coming years include the Line project, the NEOM project, the Oxagon floating port city project, and a mountain tourism site called Trojena. As of late November 2024, Saudi Arabia was in talks to develop a massive data center at Oxagon, with an estimated investment of SAR48 billion ($12.8 billion).

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 our 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 business strategies 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

47 Pages
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
8 About GlobalData
9 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 (2023=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 (2023=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, Total Credit Facilities Provided to Micro, Small, and Medium Enterprises (SAR Million)
Figure 23: Saudi Arabia, Infrastructure Construction Output by Project Type (Real, $ Million), 2019–28
Figure 24: Saudi Arabia, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 25: Saudi Arabia, Transport, Storage and Communication Value-add (SAR Million, 2018 Constant Prices)
Figure 26: Saudi Arabia, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2019–28
Figure 27: Saudi Arabia, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
Figure 28: Saudi Arabia, Electricity, Gas, and Water Services Value-Add (SAR Million, 2018 Constant Prices)
Figure 29: Saudi Arabia, Oil Sector’s Value-Add (SAR Million, 2018 Constant Prices)
Figure 30: Saudi Arabia, Institutional Construction Output by Project Type (Real, $ Million), 2019–28
Figure 31: Saudi Arabia, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 32: Saudi Arabia, Residential Construction Output by Project Type (Real, $ Million), 2019–28
Figure 33: Saudi Arabia, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 34: Saudi Arabia, Real Estate Value-Add (SAR Million, 2018 Constant Prices)
Figure 35: Saudi Arabia, Residential Real Estate Price Index (2023=100)
Figure 36: Saudi Arabia, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 37: Saudi Arabia, Headquarters of Key Consultants (% of Total Project Pipeline)

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