0000120516 00000 n 0000002268 00000 n Saudi Arabia Construction Outlook Report 2022-2023: 0000111654 00000 n 0000016036 00000 n Continued increase in HNWI within prime residential real estate market. EBEWE Benchmarking Process and Information | LADBS Construction output growth in KSA is anticipated to rise by 3.2% in 2022, with a further annual average growth rate (AAGR) of 4% between 2023 to 2026 as indicated by . The tough conditions facing the construction sector persisted throughout 2022. Rates include contractor's general requirements 6. HWko_1)^{I`rnn6@E[lpEm}g_E"q;t>^QLrDn@ Manufacturing Facility (50,000 150,000 SF, 5 10 miles from city center, excludes manufacturing equipment) $68 to $112 per SF / $732 to $1,205 M2, Food Production / Dairy Facility (45,000 200,000 SF, 5 10 miles from city center, (excludes refrigeration equipment & tri-clover SS process piping systems) $87 to $149 per SF / $936 to $1,603 M2, Warehouse / Logistic Center (35,000 250,000 SF, 5 10 miles from city center) $64 to $110 per SF / $689 to $1,184 M2, High Rise Apartments 5 10 Floors (Private, 5 10 miles from city center) $100 to $167 per SF / $1,076 to $1,797 M2, 3 5 Story Hotel (2 3 Star, 5 10 miles from city center) $105 to $172 per SF / $1,130 to $1,850 M2, 3 5 Story Office (Air Conditioned, 5 10 miles from city center) $108 to $178 per SF / $1,162 to $1,915 M2, Shopping Mall (150,000 350,000 SF Minimal Fit Out), 10 miles from city center $85 to $133 per SF / $915 to $1,431 M2. Dubai welcomed over 1.47 million tourists in January, setting a positive pace of growth for the hospitality industry in 2023. 0000009851 00000 n Click the red microphone and say what you are looking for or type in this box. 0000053051 00000 n We also help to build careers. 0000027207 00000 n Stalling growth rates, market shocks from conflict, high and continued inflation, tightening of financial conditions, rising debt levels, potential for new coronavirus outbreaks/variants, all have the potential to stifle projections. 0000044768 00000 n 0000000016 00000 n Choose a country or region to see specific content from that location. Dublin, Feb. 15, 2023 (GLOBE NEWSWIRE) -- The "Saudi Arabia Construction Outlook - Dec 2022" report has been added to ResearchAndMarkets.com's offering. Apartment StandardUnprecedented world class entertainment projects are happening in Saudi Arabia, The market is witnessing more procurement . The tough conditions facing the construction sector persisted throughout 2022. 'm uSPMHephlWZR+M:typ;^n$@19eLcJl'dD;$X)IuNefQ]y3.GE*'(&n9fdxmf~TW^2^xhRc#{lc`CX@V*Kr mhlR=_4cp]9hVJ4#>=t 0000022546 00000 n Overall, the construction industry in KSA seems to be booming and this trend is expected to continue in the coming years as well. Announced in January this year by Crown Prince Mohammed bin Salman, the ambitious Riyadh Strategy 2030 aims to create 35,000 new jobs for Saudi nationals, pump up to SR70 billion into the national. We have carefully selected articles written by AECOM specialists, that focus on prevailing themes within the construction and property market. The page you requested has generated an unexpected error. Statistics about Construction in Saudi Arabia | Statista For additional information refer to our 2018 Global Construction Costs Yearbook that details construction costs in 101 countries. 0000118220 00000 n <<71DFFA9E44CA4F40B415D383B91222A9>]/Prev 139602/XRefStm 2156>> 0000007713 00000 n Lost your password? HWr8}WiJiBrJl&I2dS[HBRv{ [fqhnt>}lVT}E#JO)aLEO9Wd:'PBe6:{u9K Construction Costs Benchmarking Kingdom of Saudi Arabia Q4 2022 Market Highlights Saudi Arabia's construction sector in particular, driven by the Kingdom's overall popularity on the world stage, increased in line with the Vision 2030. ,6PTe;BHwTFW\Zm]7W}7,sl/+ujY_#cU !bSua-0%*jewx\k'7~n.OucK AC}sS}*vu3^5/~U9^~TvSbiwx}dNY[i.r.#^_CQH}_OQy@ 0000114925 00000 n MEED Cost Indices can alsohelp you to minimise your financial risk on projects through a series of new construction cost reports covering the UAE, Qatar and Saudi Arabia. Saudi Arabias construction sector remains strongest market across the MENA region: JLL. 0000115848 00000 n As the global economy continues to face considerable headwinds amidst a year of positive market growth, the risk of a global recession lingers as geopolitics, energy and economic shocks are sustained. Data Centres 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. KSA Construction Cost Insight Report - JLL MENA Retirement living, Hotels & Hospitality To find out more about this report, please contact us today. So far, developers have been cautious about increasing prices as the market was recovering from the aftermath of Covid-19. The market is witnessing PPP opportunities, further boosting the local market, benefiting local expertise in development projects. | Breathe life into old space, or create something brand new to help your people thrive. 0000115180 00000 n Research April 14. Unprecedented world class entertainment projects are happening in Saudi Arabia 2022, professional fees, statutory fees, legal fees, The market is witnessing more procurement and construction works starting for Giga projects, 0000001607 00000 n The latest construction cost benchmarking report for Saudi Arabia is now available for download. Copyright2023 Jones Lang LaSalle IP, Inc. Oil prices (Brent & WTI) have continued to gain this year with forecasts in September at $69-$66/bl2 for Q4 2021. Sales of real estate by corporates and owner-occupiers in EMEA raised 25.6 billion in 2022 as disposals of owned properties remain an attractive and viable route to raising capital. %PDF-1.4 % I would like to receive communications from JLL. Take your business beyond its existing limits. 0000030296 00000 n Sales of real estate by corporates and owner-occupiers in EMEA raised 25.6 billion in 2022 as disposals of owned properties remain an attractive and viable route to raising capital. PIF and its subsidiary companies are shaping the future of Saudi Arabia. 0000098247 00000 n 0000120880 00000 n Unprecedented world class entertainment projects are happening in Saudi Arabia. Middle East Countries Construction Costs - Compass International 0000069628 00000 n For more information about how JLL processes your personal data, please view ourprivacy statement. For specific current and benchmarked cost data, please reach out to AECOMs Program Cost Consulting team to assist you in obtaining relevant and specific costs for projects. Register your Building for Benchmarking. 0000106374 00000 n For more information about how JLL processes your personal data, please view ourprivacy statement. 0000037590 00000 n The Saudi Arabia Construction Cost and Outlook report also investigates the demand for rebar in Qatar from 2012-17. Net Zero Facilities and Sustainable Communities. 0000022380 00000 n 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. 2022 Chamber of Commerce Amsterdam, the Netherlands. As of October 2022, KSA holds a 35% market share with a recorded $31 billion worth of contract awards against an overall MENA total of $87 billion as tracked by MEED Projects. 0000018126 00000 n 0000101678 00000 n | 2023 Global Data Center Outlook. These reports will provide you with exclusive research, data and analysis and you can benefit from a special bundle offer if you decide to purchase the three reports. 0000037348 00000 n hb````)*`c 630H3T04H(`}"A])%!WlIByB;?33&0mb~1a =_zz.4g`=u~v=Z>}f A@!&R{~~hPFv/+1fb+C2IaXa3@ f5 0000070110 00000 n 0000052885 00000 n 0000057989 00000 n We take our responsibility to protect the personal information provided to us seriously. Construction material costs Saudi Arabia Q3 2021, by product 0000068969 00000 n International construction market survey 2022. Please try again. endstream endobj 453 0 obj <>/Filter/FlateDecode/Index[10 369]/Length 35/Size 379/Type/XRef/W[1 1 1]>>stream As of October 2022, KSA holds a 35% market share with a recorded $31 billion worth of contract awards against an overall MENA total of $87 billion as tracked by MEED Projects. https://compassinternational.net/books/ Contact, John G. McConville CCP - Operations Director - Compass International Telephone in USA (609) 577 4505 E mail: info@compassinternational.net MEED | Saudi Arabia Construction Cost and Outlook Report You will receive a link to create a new password via email. 590 0 obj <> endobj 0000023236 00000 n KSA was the strongest performer across the GCC in terms of the total value of construction project awards by year-end 2020. endstream endobj 380 0 obj <>/Metadata 8 0 R/PageLabels 5 0 R/PageMode/FullScreen/Pages 7 0 R/StructTreeRoot 10 0 R/Type/Catalog/ViewerPreferences<>>> endobj 381 0 obj <>/ExtGState<>/Font<>/ProcSet[/PDF/Text/ImageC/ImageI]/Shading<>/XObject<>>>/Rotate 0/StructParents 0/TrimBox[0.0 0.0 841.89 595.276]/Type/Page/PieceInfo>/PageTransformationMatrixList<0[1.0 0.0 0.0 1.0 -420.945 -297.638]>>/PageUIDList<0 59625>>/PageWidthList<0 841.89>>>>>>>> endobj 382 0 obj [377 0 R 374 0 R] endobj 383 0 obj <> endobj 384 0 obj <> endobj 385 0 obj <> endobj 386 0 obj <> endobj 387 0 obj <> endobj 388 0 obj [/Lab<>] endobj 389 0 obj [/Indexed/DeviceRGB 64 403 0 R] endobj 390 0 obj [/Separation/PANTONE#20Orange#20021#20C 388 0 R<>] endobj 391 0 obj [/Separation/PANTONE#20425#20C/DeviceCMYK<>] endobj 392 0 obj <>stream
ksa construction cost benchmarking 2022