CFC Consulting Middle East’s Post

Saudi Arabia has launched $1.3 trillion in real estate and infrastructure projects over the past eight years as part of its plan to diversify the economy away from oil and become a more attractive place to live, work and travel. About $164 billion worth of real estate contracts have been awarded since 2016. The largest chunk of that money $28.7 billion has gone to Neom, National Housing Co. with $12 billion, the development of Diriyah Gate at $9 billion and the entertainment city of Qiddiya in Riyadh with almost $7 billion.  A majority of developments are due between 2028 and 2030, and Saudi Arabia is set to become the world’s biggest construction market as it barrels toward those deadlines.

Saudi Arabia's rapid expansion in the construction sector is transforming the nation into the world's largest construction market. This boom will significantly impact the region's economy, positioning Saudi Arabia as a global hub for infrastructure and development. This growth represents a tremendous opportunity for investors and stakeholders looking to engage with one of the fastest-growing markets globally. #realestate #development #assetsmanagement #smartcity #smarttransportation #Infrastructure #hospitality 

This comprehensive report delves into the dynamic landscape of the construction market in Saudi Arabia, offering invaluable insights into current trends, emerging opportunities, and future prospects. Explore more at: https://bityl.co/PjkS Covering key sectors such as residential, commercial, and infrastructure, the analysis explores market dynamics, regulatory frameworks, and investment landscapes, providing stakeholders with actionable intelligence to make informed decisions in this rapidly evolving industry. #SaudiArabia #construction #marketanalysis #infrastructure #residential #commercial #investment #growth #industryanalysis #sustainableconstruction #economicgrowth #marketsegmentation #strategicinsights #emergingtrends

By Mohammed AlQahtani Construction in Saudi Arabia: Promising Opportunities for Local & Foreign Companies** 💡 Introduction: The #construction sector in #SaudiArabia stands as the second-largest non-oil sector in the #Kingdom, with an annual investment exceeding 260 billion riyals ($69.33 billion), offering employment for around 3 million individuals. 🔸️ Content: This sector plays a pivotal role in achieving Vision 2030, leading numerous major projects in fields such as transportation, energy, real estate, and tourism. With its burgeoning growth, it presents vast opportunities for both local and international companies. 🔹️ Project Volume & Forecasts: According to a report by Colliers International, the project volumes were $140 billion in 2019, $93.6 billion in 2020, and 171 billion riyals ($45.6 billion) in 2021. Predictions for 2022 indicate a 3.2% growth, with an average annual growth rate of 4% from 2023-2026: 🔹️ 2022: 176.4 billion riyals ($47.04 billion) 🔹️ 2023: 183.5 billion riyals ($48.93 billion) 🔹️ 2024: 190.8 billion riyals ($50.88 billion) 🔹️ 2025: 198.4 billion riyals ($52.89 billion) 🔹️ 2026: 206.3 billion riyals ($54.94 billion) ✔️ Key Takeaways: The Saudi construction sector offers: 🔸️ Diverse projects: Infrastructure, residential and commercial constructions, energy, tourism. 🔸️ Steady growth: Supported by government incentives. 🔸️ Attractive market: Strong economy, advanced infrastructure, strategic location. 🔸️ The construction sector is expected to contribute 6.1% to the Kingdom's GDP by 2030. 🔸️ The sector is also anticipated to create over 1 million new jobs by 2030. 🔸️ The Saudi government has pledged to invest over 1 trillion riyals ($266.6 billion) in the construction sector over the next decade. 🔸️ Some of the key projects bolstering the growth of the Saudi construction sector include the NEOM megacity, Diriyah Gate, the Red Sea Projects, Downtown projects ,and the Qiddiya entertainment complex 🔘 Considering investing in Saudi's construction sector? Share your thoughts!

Saudi Arabia is set to become the world's largest construction market by 2028, with a projected output of $181.5 billion across all sectors. The "Saudi Arabia Construction Landscape Review – H1 2024" reveals that the Kingdom's construction output in the first half of 2024 grew by 43.3% year-on-year, reaching $141.5 billion across various sectors, including residential, institutional, infrastructure, industrial, energy and utilities, and commercial. Knight Frank MENA, noted that 61% of the total value came from contract awards, with the transportation sector accounting for 33%, highlighting significant investments in Riyadh’s transportation infrastructure, as its population is projected to reach 10 million by 2030. Riyadh Province accounted for 38% of the $141.5 billion contract awards, followed by Mecca and Tabuk Provinces with $28.7 billion and $28.5 billion, respectively. Knight Frank’s analysis shows the residential sector leads the construction output value, making up 31% ($43.5 billion) of the total in 2023, and is projected to reach $56.9 billion by 2028. The energy and utilities sector follows, with a value of $35.1 billion, expected to rise to $46.5 billion by 2028. The government aims to attract over $3 trillion in investments by 2030, as confirmed by the Minister of Investment at the Sino-Gulf Cooperation for Industries and Investments Forum in China. Since the launch of the National Transformation Plan in 2016, the total budgeted value of real estate and infrastructure projects has surpassed $1.25 trillion, aligning with Vision 2030’s goals to deliver over 660,000 residential units, more than 320,000 hotel keys, over 5.3 million square meters of retail space, and more than 6.1 million square meters of new office space by the end of the decade. #Assetbrook #KSA #SaudiArabia #Construction #Investment #RealEstate

Right decision in right time 👍

$𝟴 𝗕𝗶𝗹𝗹𝗶𝗼𝗻 𝗠𝗮𝗸𝗸𝗮𝗵 𝗠𝗲𝘁𝗿𝗼 𝗣𝗿𝗼𝗷𝗲𝗰𝘁 𝗕𝗮𝗰𝗸 𝗼𝗻 𝗧𝗿𝗮𝗰𝗸 🔸️ "MEED" reported that Saudi Arabia has resumed the feasibility study for the first phase of the Makkah Metro project, valued at $8 billion (30 billion SAR). 🔸️ The site mentioned that the ownership of the project plan has been transferred from the Makkah Mass Rail Transit Company (MMRTC) and the National Center for Privatization (NCP) to the Royal Commission for Makkah City and Holy Sites. 🔸️ It was explained that Systra started the initial studies for the project in 2010 and conducted the preliminary design for lines B and C of the Makkah Metro from 2013 to 2015. 🔸️The updated plan will include metro service to other locations in Makkah, including several urban developments throughout the city, according to a statement from Systra. 🔆 This project was previously tendered, and our consortium won the bid. However, the commencement of the project was delayed due to unforeseen circumstances. The project is profitable as a PPP if key success factors are properly addressed. We will proceed, especially since we have previously submitted our study to implement the entire project at a cost of $8 billion in 2016. This plan includes some modifications to maximize returns for investors, who have shown strong interest in investing. #realestate #saudiarabia #infrastructure #metro #subway #метро #islam #muslim #makkah #ppp #bot #boot #finance #investing #business #entrepreneur #investment #architecture #building #construction #SaudiArabia

Saudi Arabia Dominates Global Construction with $1.5 Trillion Pipeline. Saudi Arabia is leading the global construction sector with an astounding $1.5 trillion pipeline of unawarded projects, accounting for a massive 39% share of the total construction activity in the Middle East and North Africa (MENA) region, as reported by JLL. Key Highlights: Mega Projects: $950 billion in construction assets, with significant growth driven by Vision 2030 initiatives. Economic Impact: Anticipated GDP growth of 2.1% in 2024 and 5.9% in 2025, fueled by infrastructure and real estate developments. Regional Leader: Saudi Arabia is cementing its position as a global leader in construction activity, especially with preparations for EXPO 2030. Market Trends: Rising Demand: The Kingdom saw $97 billion in project awards in 2023, a significant increase from $60 billion in 2022. Challenges Ahead: Despite growth, the sector faces constraints like skilled labor shortages and rising construction costs. #SaudiVision2030 #ConstructionBoom #RealEstateOpportunities #GCCInvestment #ArabianProperties #OfficeFinder

JLL's Barry O'Reilly discusses the ripple effect of Saudi Arabia's construction boom on the UAE's real estate market Since the launch of Saudi Arabia's giga projects, the Kingdom has emerged as a key driver in the construction sector in the Middle East. In fact, 39% of the MENA project pipeline is in KSA #uaeconstruction #realestate

Saudi Arabia's Construction Boom: Key Growth Insights Explore the incredible growth of Saudi Arabia's construction market and the regulatory changes fueling this expansion. Don't miss these valuable insights into the future of construction in the Middle East! #SaudiArabia #ConstructionBoom #MiddleEastGrowth #RealEstateDevelopment #BuildingTheFuture