Sharif Adhikari’s Post

Riyadh may turn to different CEOs to run its projects https://lnkd.in/ec-SPnaM The focus for CEOs was project delivery; the key to success now is dealing with investors and banks #Construction #MiddleEast #Building #Infrastructure #Engineering #ProjectManagement #ConstructionNews #InnovationInConstruction #SustainableConstruction #MegaProjects

Riyadh Prepares Metro Line 2 Award #Riyadh #Saudiarabia #Metro #Construction #Infrastructure #Engineering #Project #Contractaward #Sustainability #Businessnews #Newsupdate The Royal Commission for Riyadh City (RCRC) is preparing to award the contract for the Riyadh Metro Line 2 extension. The bid evaluation has reached the final stages, and the contract will likely be awarded by the end of October. The Line 2 extension is 8.4 kilometres (km), of which 1.3km is elevated and 7.1km is underground. It includes five stations – two elevated and three underground. It will run from where Line 2 currently ends at King Saud University (KSU) and then travel onward to new stations, namely KSU Medical City, KSU West, Diriyah East, Diriyah Central (where it interchanges with the planned Line 7), and then finally to Diriyah South. In June, RCRC was evaluating the bids from consortiums for the main contract. The contracting consortiums building lines 1 to 6 of the Riyadh Metro network since 2013 have been invited to bid for the contract. In February, RCRC had set a deadline of mid-March to receive bids. The Fast consortium is working on lines 4, 5 and 6, reportedly valued at $7.82bn.  The Bacs consortium was awarded lines 1 and 2 for $9.45bn,  Arriyadh New Mobility secured Line 3 for $5.21bn.  US firm Bechtel leads the Bacs consortium.  Italian firm Ansaldo STS is the leader of the Arriyadh New Mobility group, and  Spanish firm FCC Construccion heads the Fast consortium. RCRC has also received prequalification forms from contractors for the tender to design and build Line 7 of the Riyadh Metro project. RCRC previously extended the deadline to 15 February for companies to prequalify for the tender. Contractors have formed teams to bid for the project. RCRC first issued the request for prequalification notice in October. The initial deadline was 16 October. Line 7 will be executed in two phases. Selected firms have been invited to prequalify to work on the project’s first phase. The first phase includes constructing a metro line linking Qiddiya Entertainment City, King Abdullah International Gardens, King Salman Park, Misk City and Diriyah Gate. The total length is about 65km, of which 47km is underground and 19km is elevated.  To Subscribe our services please contat us at [email protected] or call us at +91-9930363911 (Company those looking for Market Analysis in Africa / Middle-East/ Asia Region to Support there Planning for: Forecast market trends and identify right opportunities, Project updates, upcoming projects, ongoing projects and associated companies Access to project pipelines and projections with stage, sector and country wise break downs)

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

Infrastructure schemes support Riyadh's ambitions https://lnkd.in/exebQH5t The development of infrastructure schemes including airports, extensive rail networks, ports and well-connected roads is key to the success of Saudi Arabia's transport and logistics strategy #Construction #MiddleEast #Building #Infrastructure #Engineering #ProjectManagement #ConstructionNews #InnovationInConstruction #SustainableConstruction #MegaProjects

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

Saudi Arabia's infrastructure trillion-dollar megaprojects Transforming Saudi Arabia's infrastructure through trillion-dollar megaprojects marks a new era of innovation and sustainable development. Since 2016, the country has undertaken projects valued at over $1.25 trillion, including NEOM, Diriyah, and the Riyadh Metro, among others. These projects are not only substantial in value, but they also represent a commitment to innovation and sustainability. The list of projects is impressive, with NEOM alone valued at $500 billion, Diriyah at $62.2 billion, and New Murabba at $50 billion. The projects aim to build new cities and revitalize older ones, such as the Jeddah Economic City and the King Abdullah Economic City. The Red Sea Global project aims to develop an area of over 28,000 square kilometers, while the Riyadh Metro represents the largest public transport project in the world. These megaprojects are part of Saudi Arabia's Vision 2030, a plan to transform the country's economy and society. By investing in infrastructure, the country aims to create jobs, diversify its economy, and provide new opportunities for its citizens. The scale of these projects is unprecedented, and they represent a significant step towards achieving the country's ambitious goals. Salem Bagami #saudivision2030 #Megaprojects #Infrastructure #saudiarabia #innovation #sustainability #opportunities #futuristic #unprecedebted #ambitious #neom #diriyah #Riyadhmetro #Murabba #redseaglobal #KAEC #PIF

Riyadh tops regional real estate construction costs at up to $2.6k per sqm in 2024, according to Turner & Townsend's ICMS report. Globally, it ranks 19th in construction expenses. #RiyadhRealEstate #ConstructionCosts #TurnerAndTownsend #ICMSReport #GlobalConstruction #RealEstateTrends

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

𝐒𝐚𝐮𝐝𝐢 𝐜𝐨𝐧𝐬𝐭𝐫𝐮𝐜𝐭𝐢𝐨𝐧 𝐭𝐨 𝐡𝐢𝐭 $𝟏𝟖𝟏𝐛𝐧 𝐚𝐬 𝐛𝐨𝐨𝐦𝐢𝐧𝐠 𝐬𝐞𝐜𝐭𝐨𝐫 𝐭𝐨 𝐜𝐫𝐞𝐚𝐭𝐞 𝟔𝟔𝟎,𝟎𝟎𝟎 𝐧𝐞𝐰 𝐡𝐨𝐦𝐞𝐬 🏗 Saudi Arabia is poised to become the world's largest construction market by 2030, with its sector's output value projected to grow from $141.5 billion to $181.5 billion by 2028, according to Knight Frank. This growth is driven by Vision 2030, aiming to transform the Kingdom into a global hub for tourism, commerce, and trade. Key developments include the construction of 660,000 new homes by 2030 and a significant increase in construction awards, up 4.3% in 2024. The government targets over $3 trillion in investments by 2030, with the total budgeted value of real estate and infrastructure projects already surpassing $1.25 trillion since 2016. #Riyadh, #Mecca, and #Tabuk are leading in construction projects, with Riyadh alone accounting for $54 billion in contract awards. The residential sector dominates, expected to rise from $43.5 billion in 2023 to $56.9 billion by 2028, while the energy and utilities sector is projected to increase from $35.1 billion to $46.5 billion in the same period. The cost to deliver the planned 660,000 homes is estimated at $175 billion. Vision 2030's most visible impact is the development of new super-cities, particularly in Western Saudi Arabia, where 25 Giga projects are transforming the urban landscape with investments valued at $692 billion. By 2030, the Kingdom aims to accommodate 40 million residents and 150 million visitors annually, highlighting its ambitious growth and development plans. #saudiarabia #saudivision2030 #saudiconstruction

  As a growing construction professional based in the Middle East for a few years and with background roots out of Africa, it is always interesting for me to read up on construction predictions in both regions and how they intersect as construction rise in Middle East and Africa will present opportunities and challenges alike.   In 2024, it is fascinating to learn that contractors in the Middle East and Africa are on the brink of exciting opportunities amidst a booming construction market with ConstructAfrica as my go to source of construction information for everything Africa.   The UAE is gearing up for a 34% surge in construction spending, and will see a rise in projects like Al Maktoum Airport and Dubai Metro Blue Line.   Meanwhile, Saudi Arabia's Giga Project program promises substantial growth. While in Sub-Saharan Africa, closing the infrastructure-spending gap is crucial, leading to the demand for private sector-led projects.   Yet, the path is not without challenges - high inflation and construction costs, coupled with cash flow pressures, pose hurdles for one in four UAE projects.   For contractors, navigating these waters requires a personal touch. Understanding contractual risk, embracing robust administration, and mastering effective supply chain management are key with , early warning systems and dispute avoidance mechanisms will play a pivotal role along helping define their journey   #construction #MiddleEast #Africa #UAE #opportunities #constructafrica #saudiarabia   https://lnkd.in/dVNcc2_e