The Saudi Construction Industry ranks high among the world’s largest construction markets. The government continues to maintain its commitment towards its Vision 2030 goals, particularly in sectors such as the housing program, infrastructure, renewables, water projects, while allocating contingent funds towards addressing the risks related to the pandemic. In 2022, the construction industry's output was supported by the huge pipeline of projects such as Neom, the Red Sea project, Amaala, Qiddiya among others. The government is also giving more importance to strengthen private sector participation in these projects. Overall, the construction industry in KSA seems to be booming and this trend is expected to continue in the coming years as well.
The report highlights construction activity in the Kingdom of Saudi Arabia in 2022 as well as how the industry is expected to take shape in 2023. Economic indicators, major projects, contractors, consultants and project owners active in the Kingdom are listed with details. The construction activity within Buildings, Infrastructure, Industrial, Power & Water, Oil & Gas sectors are explained with major events.
Table of Contents
1. Executive Summary
2. Overview of KSA's Economy
3. 2023 Budget Highlights
4. Classification of the Construction Industry
5. Construction Industry Overview
- Building Construction Overview
- Infrastructure Construction Overview
- Industrial Construction Outlook
- Power and Water Construction Outlook
- Oil and Gas Construction Outlook
6. Major Projects
7. Top Giga and Mega Projects
8. Top Clients and Contractors
9. Key Project Owners
10. Key Consultants
11. Key Contractors
12. Conclusion
List of Figures
Figure 1: Real GDP growth and inflation from 2022 to 2024 in %
Figure 2: Total revenues/expenditure/budget surplus/deficit from 2022-2023 and Expenditure by sector in 2023 in %
Figure 3: KSA project value by status in 2022 in US$ Bn and %
Figure 4: KSA construction contractor awards across industries from 2021 to 2023 in US$ Mn
Figure 5: KSA project value by status in 2022 in US$ Bn and %
List of Tables
Table 1: Major projects awarded to contractors in 2022
Table 2: Giga and mega projects in 2022
Table 3: Top clients who awarded projects in 2022
Table 4: Top clients who announced projects in 2022
Table 5: Top contractors who announced projects in 2022
Table 6: Key project owners in KSA
Table 7: Key consultants in KSA
Table 8: Key contractors in KSA
