Foreword
Kobus Havemann, Director, Country Manager KSA
Welcome to the first edition of the Kingdom of Saudi Arabia (KSA) Market Intelligence report. This report provides an in-depth analysis of KSA’s economic and construction landscape, with a particular focus on the country's ambitious Vision 2030 initiative.
We explore the significant growth and transformation within the Kingdom's construction sector, driven by substantial investments in giga-projects and a robust project pipeline valued at approximately US$ 1.7tn. We delve into the factors contributing to this growth, including the continuous demand for residential, commercial and infrastructure development, and the strategic efforts to diversify the economy away from oil dependency.
The report is structured to offer a comprehensive overview of the current market conditions, including detailed sections on the economic outlook, sector performance, and construction cost trends. We also examine the challenges faced by the industry, such as skilled labour shortages and rising material costs, and highlight emerging trends and responses shaping how stakeholders are navigating these issues.
"Our analysis is supported by the latest data and insights from industry experts, providing valuable perspectives on the future of Saudi Arabia's construction market. We hope this report will serve as a useful resource for stakeholders and decision-makers, helping to navigate the complexities of the market and capitalise on the opportunities ahead."
Kobus Havemann
Director, Country Manager KSA
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