Saudi Arabia Construction Market Size, Trends and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026

Pages: 49 Published: January 25, 2022 Report Code: GDCN0946MR

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The Saudi Arabia construction market size was $120.4 billion in 2021. The market is projected to grow at an AAGR of more than 4% during the period 2023 to 2026. Growth in the forecast period will be supported by investments in the transport, renewable energy, housing, and tourism sectors, in line with the government’s focus on diversifying the country’s economy away from hydrocarbons. The industry’s growth in the forecast period will also be supported by developments in infrastructure, energy and utilities, and residential construction projects. Despite the stable economic conditions, supply chain disruptions, rising wage costs, and the tightening of monetary policy pose a significant downside risk to the industry’s outlook in the short term.

The government of Saudi Arabia launched a draft of the new Investment Law for public discussions in April 2022. The new law aims to attract more FDI to the country by improving the attractiveness of the Kingdom’s business environment. One of the main principles of the law is to treat local and foreign investors equally, by removing any commercial advantage that was previously only extended to Saudi Arabian companies. This is expected to boost foreign investment, thereby supporting investment in new construction projects over the medium to long term

The Saudi Arabia construction market research report provides a detailed analysis of Saudi Arabia’s construction industry’s growth prospects by market, project type, and construction activity. It also provides critical insights into the impact of industry trends and issues as well as an analysis of key risks and opportunities in the construction industry. Moreover, it provides an analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

Saudi Arabia Construction Market Outlook

Saudi Arabia Construction Market Outlook

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Key Saudi Arabia Construction Market Sectors

The key sectors in the Saudi Arabia construction market are commercial construction, industrial construction, infrastructure construction, energy & utilities construction, institutional construction, and residential construction. 

The Commercial Construction Market in Saudi Arabia

The commercial construction sector’s output over the forecast period will be supported by investments in the tourism sector amid a gradual rebound in travel and tourism activities, coupled with the government’s focus on developing key tourism destinations in the country. Forecast-period growth will also be supported by investment in office, data center, and logistic building projects.

The Industrial Construction Market in Saudi Arabia

Forecast-period growth in the industrial construction sector will be supported by a rebound in manufacturing and export activities, coupled with investments in developing industrial zones. Growth will also be aided by the government’s focus on attracting private sector investment in the mining sector to explore its untapped potential.

The Infrastructure Construction Market in Saudi Arabia

The infrastructure sector’s output will expand in real terms in 2022. Over the remainder of the forecast period, the growth will be supported by the government’s focus on developing the country’s transport infrastructure and enhancing regional connectivity.

The Energy & Utilities Construction Market in Saudi Arabia

The energy and utilities construction sector’s output over the forecast period will be supported by investments in the oil and gas, electricity, water, and sewage sectors.

The Institutional Construction Market in Saudi Arabia

The institutional sector is expected to grow in real terms in 2022 and the growth will be supported by investment in the education and healthcare sectors.

The Residential Construction Market in Saudi Arabia

The residential sector’s growth over the forecast period will be supported by an improvement in economic conditions, coupled with government initiatives such as the Sakani Housing program, the Housing Vision Revitalization program, and the Idle Land Fees program. This will bolster residential real estate demand in the Kingdom and provide affordable housing to Saudi citizens.

Saudi Arabia Construction Market Analysis by Sectors

Saudi Arabia Construction Market Analysis by Sectors

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Key Contractors in the Saudi Arabia Construction Market

The key contractors in the Saudi Arabia construction market are Webuild SpA, Almabani General Contractors, Larsen & Toubro Ltd, Siemens AG, Vinci SA, Al-Dar Al-Arabia Co., Archirodon Group NV, Saudi Huta Hager Co. Ltd, Azmeel Contracting and Construction Corp., and TAV Construction.

Saudi Arabia Construction Market Analysis by Contractors

Saudi Arabia Construction Market Analysis by Contractors

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Key Consultants in the Saudi Arabia Construction Market

The key consultants in the Saudi Arabia construction market are Dar Al-Handasah Consultants Shair and Partners Holdings Ltd, SNC-Lavalin Group Inc., Omrania & Associates, Egis Group, Royal HaskoningDHV, Netherlands Airport Consultants BV, IBI Group Inc., Omraniyoun Consulting Engineers, Hill International Inc., and UNICO International Corp.

Saudi Arabia Construction Market Analysis by Consultants

Saudi Arabia Construction Market Analysis by Consultants

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Saudi Arabia Construction Market Report Overview

Market size (Year – 2021) $120.4 billion
Growth rate – AAGR (2023 – 2026)  >4%
Forecast period 2022-2026
Key sectors Commercial Construction, Industrial Construction, Infrastructure Construction, Energy & Utilities Construction, Institutional Construction, and Residential Construction
Key contractors Webuild SpA, Almabani General Contractors, Larsen & Toubro Ltd, Siemens AG, Vinci SA, Al-Dar Al-Arabia Co., Archirodon Group NV, Saudi Huta Hager Co. Ltd, Azmeel Contracting and Construction Corp., and TAV Construction
Key consultants Dar Al-Handasah Consultants Shair and Partners Holdings Ltd, SNC-Lavalin Group Inc., Omrania & Associates, Egis Group, Royal HaskoningDHV, Netherlands Airport Consultants BV, IBI Group Inc., Omraniyoun Consulting Engineers, Hill International Inc., and UNICO International Corp

Scope

This report provides a comprehensive analysis of the construction industry in Saudi Arabia. It provides –

  • Historical and forecast 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

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 COVID-19 Status

3.5 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

7.4 GlobalData Construction

Contact Us

List of Tables

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), 2017-26

Table 4: Saudi Arabia, Top Commercial Construction Projects by Value

Table 5: Saudi Arabia, Industrial Construction Output by Project Type (Real % Change), 2017-26

Table 6: Saudi Arabia, Top Industrial Construction Projects by Value

Table 7: Saudi Arabia, Infrastructure Construction Output by Project Type (Real % Change), 2017-26

Table 8: Saudi Arabia, Top Infrastructure Construction Projects by Value

Table 9: Saudi Arabia, Energy and Utilities Construction Output by Project Type (Real % Change), 2017-26

Table 10: Saudi Arabia, Top Energy and Utilities Construction Projects by Value

Table 11: Saudi Arabia, Institutional Construction Output by Project Type (Real % Change), 2017-26

Table 12: Saudi Arabia, Top Institutional Construction Projects by Value

Table 13: Saudi Arabia, Residential Construction Output by Project Type (Real % Change), 2017-26

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

List of Figures

Figure 1: Middle East and North Africa, Construction Output (Real % Change), 2020-26

Figure 2: Saudi Arabia, Construction Output by Sector (Real % Change), 2020-22 and 2023-26

Figure 3: Saudi Arabia, COVID-19 Confirmed Cases

Figure 4: Saudi Arabia, Risk Summary

Figure 5: Saudi Arabia, Risk Regional Comparison

Figure 6: Saudi Arabia, Construction Output Value (Real, $ Billion, 2017 Prices and Exchange Rate), 2017-26

Figure 7: Saudi Arabia, Construction Output Value, by Sector (Real, $ Million), 2017-26

Figure 8: Saudi Arabia, Construction Value Add (SAR Million, 2010 Constant Prices)

Figure 9: Saudi Arabia, Real Estate Price Index (2014=100)

Figure 10: Saudi Arabia, Bank Credit to Building and Construction (In SAR Million)

Figure 11: Saudi Arabia, Construction Projects Momentum Index

Figure 12: Region, Construction Projects Momentum Index

Figure 13: Saudi Arabia, Commercial Construction Output by Project Type (Real, $ Million), 2017-26

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, 2010 Constant Prices)

Figure 16: Saudi Arabia, Industrial Construction Output by Project Type (Real, $ Million), 2017-26

Figure 17: Saudi Arabia, Industrial Construction Projects Pipeline, Value by Stage ($ Million)

Figure 18: Saudi Arabia, Manufacturing Value Add (SAR Million, 2010 Constant Prices)

Figure 19: Saudi Arabia, Non-Oil Sector’s Value Add (SAR Million, 2010 Constant Prices)

Figure 20: Saudi Arabia, Industrial, Manufacturing and Mining and Quarrying Production Index

Figure 21: Saudi Arabia, Total Merchandise Export (SAR Million)

Figure 22: Saudi Arabia, Infrastructure Construction Output by Project Type (Real, $ Million), 2017-26

Figure 23: Saudi Arabia, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)

Figure 24: Saudi Arabia, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2017-26

Figure 25: Saudi Arabia, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)

Figure 26: Saudi Arabia, Oil Sector’s Value Add (SAR Million, 2010 Constant Prices)

Figure 27: Saudi Arabia, Electricity, Gas and Water Value Add (SAR Million, 2010 Constant Prices)

Figure 28: Saudi Arabia, Institutional Construction Output by Project Type (Real, $ Million), 2017-26

Figure 29: Saudi Arabia, Institutional Construction Projects Pipeline, Value by Stage ($ Million)

Figure 30: Saudi Arabia, Residential Construction Output by Project Type (Real, $ Million), 2017-26

Figure 31: Saudi Arabia, Residential Construction Projects Pipeline, Value by Stage ($ Million)

Figure 32: Saudi Arabia, Real Estate Value Add (SAR Million, 2010 Constant Prices)

Figure 33: Saudi Arabia, Headquarters of Key Contractors (% of Total Project Pipeline)

Figure 34: Saudi Arabia, Headquarters of Key Consultants (% of Total Project Pipeline)

Frequently Asked Questions

The construction market size in Saudi Arabia was $120.4 billion in 2021.

The construction market in Saudi Arabia is projected to grow at an AAGR of more than 4% during the period 2023 to 2026.

The key sectors in the Saudi Arabia construction market are commercial construction, industrial construction, infrastructure construction, energy & utilities construction, institutional construction, and residential construction.

The key contractors in the Saudi Arabia construction market are Webuild SpA, Almabani General Contractors, Larsen & Toubro Ltd, Siemens AG, Vinci SA, Al-Dar Al-Arabia Co., Archirodon Group NV, Saudi Huta Hager Co. Ltd, Azmeel Contracting and Construction Corp., and TAV Construction.

The key consultants in the Saudi Arabia construction market are Dar Al-Handasah Consultants Shair and Partners Holdings Ltd, SNC-Lavalin Group Inc., Omrania & Associates, Egis Group, Royal HaskoningDHV, Netherlands Airport Consultants BV, IBI Group Inc., Omraniyoun Consulting Engineers, Hill International Inc., and UNICO International Corp.

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