The 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 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).
- 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 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 the analyst'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 Summary2 Construction Industry: At-a-Glance6 Construction Market Data
3 Context
4 Construction Outlook
5 Key Industry Participants
7 Appendix
List of Tables
List of Figures
