Construction in Saudi Arabia – Key Trends and Opportunities to 2025 (Q2 2021)

Saudi Arabia’s construction industry is forecast to recover in 2021, growing by 2.9% in 2021, after contracting by 0.4% in 2020. The industry is projected to continue to recover over the remainder of the forecast period, growing by 4% between 2022-2025. The industry’s output is expected to be supported by the government’s focus on the development of overall infrastructure, as well as energy and utilities construction projects, in a bid to diversify its economy away from oil.

With the collapse of oil prices and disruptions due to the COVID-19 outbreak, in December 2020, the government announced a SAR990 billion (US$263.9 billion) budget for 2021. The Kingdom's budget statement showed a cut to government spending of 7% in 2021, implying that the main policy goal for the Kingdom in the short term is to reduce the budget deficit, rather than boost economic growth. However, there is a huge pipeline of projects related to the long-term diversification plans under Vision 2030. This was underlined by the crown prince's announcement in January 2021 that the Public Investment Fund (PIF) is to invest SAR3 trillion (US$800 billion) on projects in the country over the next decade.

This report provides detailed market analysis, information and insights into the 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.

Scope

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

– Historical (2016-2020) and forecast (2021-2025) 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.

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

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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), 2016-2025

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

Table 5: Saudi Arabia, Industrial Construction Output by Project Type (Real % Change), 2016-2025

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

Table 7: Saudi Arabia, Infrastructure Construction Output by Project Type (Real % Change), 2016-2025

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

Table 9: Saudi Arabia, Energy and Utilities Construction Output by Project Type (Real % Change), 2016-2025

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

Table 11: Saudi Arabia, Institutional Construction Output by Project Type (Real % Change), 2016-2025

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

Table 13: Saudi Arabia, Residential Construction Output by Project Type (Real % Change), 2016-2025

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, US$ 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 Africa, Construction Output (Real % Change), 2020 and 2021

Figure 2: Saudi Arabia, Construction Projects Pipeline by Sector (SAR Billion)

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, US$ Billion, 2017 Prices and Exchange Rate), 2016-2025

Figure 7: Saudi Arabia, Construction Output Value, by Sector (Real, US$ Million), 2016-2025

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, Quarterly Change in Unemployment Rate (In %)

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, US$ Million), 2016-2025

Figure 14: Saudi Arabia, Commercial Construction Projects Pipeline, Value by Stage (US$ 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, US$ Million), 2016-2025

Figure 17: Saudi Arabia, Industrial Construction Projects Pipeline, Value by Stage (US$ 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 and Manufacturing Production Index

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

Figure 22: Saudi Arabia, Infrastructure Construction Output by Project Type (Real, US$ Million), 2016-2025

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

Figure 24: Saudi Arabia, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2016-2025

Figure 25: Saudi Arabia, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ 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, US$ Million), 2016-2025

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

Figure 30: Saudi Arabia, Residential Construction Output by Project Type (Real, US$ Million), 2016-2025

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

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