The report explains in detail how and why the index has been created, explains the need for such a tool, analyses the factors that have influenced the price movements over the past decade and looks ahead to how these may affect the index in the future. 0000022380 00000 n This statistic displays the prices for construction materials in Saudi Arabia as of the third quarter of 2021. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. %r+C;YPxl$Q3*Q$JYu_iJVF$Th&x6B/!xlP:Ni4# 0000055375 00000 n Economic round-up 0000122254 00000 n Continued increase in HNWI within prime residential real estate market. When photographs from the year 2000 are placed next to more recent photos of the major cities in Qatar, Saudi Arabia and the United Arab Emirates, it is hard to digest that all this change happened in just over a decade. 0000037823 00000 n Hospitality sector is showing strong rebound from Covid lows, including for both New Build, and Refubishment and Alteration projects. 0000044179 00000 n Were happy to discuss the findings of the report with you. Equity, diversity and inclusion are core to our vision - a world where infrastructure creates opportunity for everyone. Breathe life into old space, or create something brand new to help your people thrive. 0000037709 00000 n Retirement living, Hotels & Hospitality We will be in touch with the latest news and insights. The report highlights construction activity in the Kingdom of Saudi Arabia in 2022 as well as how the industry is expected to take shape in 2023. Cost of key materials like cement and steel have risen over 20% YoY in March 2022. 379 76 0000028320 00000 n The demand for cement falls well short of the installed capacity but from looking at demand centres and supply centres it is clear that logistical challenges could potentially create localized shortages. 0000015987 00000 n Drawing on their extensive delivery experience, industry-wide knowledge and sophisticated project development tools, Compass facilitates the most proficient path towards project success, overcoming constraints and obstacles to deliver projects effectively and efficiently for their Clients. Dublin, Feb. 15, 2023 (GLOBE NEWSWIRE) -- The "Saudi Arabia Construction Outlook - Dec 2022" report has been added to ResearchAndMarkets.com's offering. April 06, 2022 The Economist magazine recently identified inflation as one of the three major threats to the global economy in 2022. @Rmw61$cRbCBV08E+B4ZEH~_g4HqV hS6}m5D XlI;8tmn_K 6A&2ya| 'Qxf^ 2}56d1QW:;'C2~vu7 x}rHMZ cjh#B>6/L\ z:>+A]C 2PSz4 cM1~:ffp|0}LD0?gwOrb4(|ZLr]&;9A9!O*zhX:av*7a=f]EY,t8!hZjUp("x 64NdWnOp00?O>(ps+YTw&i92Kka"g!#[,q){lNxJ8^d@Zgv]7mk\eXf'~p5~\;f9eNl _uUn;f~"g`$o6]r hMe2O/G 7w]nv/elW9 xref Classification of the Construction Industry, For more information about this report visit https://www.researchandmarkets.com/r/kxjwkl-arabia?w=12. 0000018126 00000 n 0000037935 00000 n Alternative procurement routes being considered to manage risk of tender price inflation for major works. Benchmarking Notes 0000044152 00000 n Move into your first office, find a new one with room to grow, or develop a complete location strategy. 0000022546 00000 n 0000008941 00000 n As always, we continue to seek your feedback to support our drive for improvement. 0000008025 00000 n 0000009320 00000 n The market is witnessing PPP opportunities, further boosting the local market, benefiting local expertise in development projects. All costs are converted into US . 0000044838 00000 n 0000009851 00000 n 0000056366 00000 n The implementation of restrictions in the Kingdom led to targeted government cost-saving measures, including reduced expenditure on giga-project investment. Construction Costs. 454 0 obj <>stream We take our responsibility to protect the personal information provided to us seriously. I would like to receive communications from JLL. HWn6}W6 8FF_EuDo-QL6M!Xs34?Pv]__}`/F?!XN"OE~1q2&kBic |uy=%@|]MveXijJKeUmrGfeWz%*V3HgkGL=!HFrh!hh$F^fd;lm9r . trailer 0000058278 00000 n 0000101615 00000 n @*Bi;i+G{s]Gdt!zn0o#!IT?~XU 7>-MgGgZAHP/Orpo4 H$U-~\o6Ch.G O\/[|" 0000001607 00000 n We are 36,000 people active in over 70 countries. bXdGYv:m4"bv3pV Currie & Brown is unique. 0000084581 00000 n Sales of real estate by corporates and owner-occupiers in EMEA raised 25.6 billion in 2022 as disposals of owned properties remain an attractive and viable route to raising capital. We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. HWF}W U#lOHH@!n^KNvUYeRSWFh2o`:}RL_. 0000052359 00000 n Physical assets have complex uses and integrated lifecycles. 4. Services / Green Building & Sustainability / Existing Buildings Energy & Water Efficiency Program / EBEWE Benchmarking Process and Information. MCI canhelp you to minimise your financial risk on projects through a series of new construction cost reports covering the UAE, Qatar and Saudi Arabia. %PDF-1.4 % endstream endobj 393 0 obj [/Separation/PANTONE#20315#20C/DeviceCMYK<>] endobj 394 0 obj <>stream 0Ti ;E)~}+qPdf?$F|$5oFWlM*;}w198M.q%#o m|0q0{",N)tl$'7~Y11'wi2kO1XW|t#g3$[LbAX#DDDGLUa*]',l/vlM816,jYM(8IKf$!Nr%k=R*[U>=A&jo\ \r1-qx&T1 Ij {vPgP$j-0h(5qjc9`?(4[PPPo}rO.o]D>E`H. 0000022450 00000 n The Saudi Arabia construction sector is predicted to flourish in the next 6 to 12 months after a challenging couple of years. For more information about how JLL processes your personal data, please view ourprivacy statement. m9i0sJ]c[pnr\pTr-cXw}(nY'Sc7@hPi|(V\]dSe#1P'LNq]%W5&2#oZZ>pmkVGFR%8>3n";-D?v)i`AZ?,N6cUUl'B~8H / The database focuses on the following construction categories: Refineries, Oil & Gas, Petro-Chemicals, LNG, Ethylene Facilities & Other Process related Facilities Cost of construction to rise by a further 8-9% by . Currie & Brown is involved in a wide range of projects around the globe. 0000115994 00000 n 0000038050 00000 n 0000115180 00000 n Despite near-term . 0000002093 00000 n 0000101678 00000 n We delve into the recent chapter of AECOMs sustainable and digital transformation journey by showcasing how our focus on innovative and transformative solutions are being employed to improve outcomes for our clients and communities. 0000051932 00000 n The UAE market conditions remained strong in the second quarter of this year and rising concerns about inflation did not prevent positive consumer spending helping the UAE achieve consistent economic growth. 0000016169 00000 n These benchmarks & cost metrics have been gathered over two decades from 100s of Oil & Gas, Power, Industrial, Process Projects, Infrastructure & General Buildings & Facilities. Generally the personal information we collect from you are for the purposes of dealing with your enquiry. The total installed cement production capacity is forecasted to increase from over 50 million tons per annum to well over 60 million tons by 2015. Dubai welcomed over 1.47 million tourists in January, setting a positive pace of growth for the hospitality industry in 2023. | 0000116057 00000 n Research April 14. 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 Global Data. 0000037590 00000 n VSW!/9B@Ry-O. 0000009674 00000 n 0000027485 00000 n Please get in touch. Saudi Arabias construction sector is in a high growth trend, driven by the Kigdoms visionairy leader, and Vision 2030. The government is also giving more importance to strengthen private sector participation in these projects. The Saudi Construction Industry ranks high among the world's largest construction markets. 0000001900 00000 n February 15, 2023 06:53 ET This latest report from MCI forecasts construction costs in Saudi Arabia and focuses on costs for the infrastructure and real estate sectors spread across the following sub-sectors: transport, social infrastructure, residential, commercial, education, leisure and entertainment, and retail. The latest construction cost benchmarking report for Saudi Arabia is now available for download. 0000009439 00000 n Published by MEED Cost Indices (MCI), the data used to develop this forecast has been exclusively sourced from more than 200 regional construction projects from a wide range of organizations. 0000019251 00000 n We also take a look at the construction industrys role in reducing global carbon emissions by addressing embodied carbon in construction, and examine the opportunities and challenges faced by public and private sector finances in regard to climate change action and disclosures in financial decision-making. Construction Costs Benchmarking Kingdom of Saudi Arabia Q2 2022 Market Highlights Saudi Arabia's construction sector is in a high growth trend, driven by the Kingdom's visionary leader, and Vision 2030. Our privacy policy explains what information we gather about you, what we use that information for, and who we give that information to. Please enter your username or email address. . The reference data section provides averaged international and regional cost data within the built environment. Industry revenue of "construction of buildings" in Saudi Arabia 2012-2024. 0000101855 00000 n Cost of construction up 10-12% YoY; surging cost likely to push up real estate prices. Apartment StandardUnprecedented world class entertainment projects are happening in Saudi Arabia, The market is witnessing more procurement . 0000069238 00000 n 0000038120 00000 n Approximately 70% comprise construction sector projects with residential, cultural, leisure, and hospitality as sub-sector leaders, which is the driving force behind the Vision 2030 strategy. 0000104117 00000 n We will then delete it safely and securely. Specialising in start-to-finish project development solutions, their collective attention to detail, and passion for getting everything right, helps define and solidify their customers' goals, whilst establishing and managing realistic schedules and budgets. 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. 0000027207 00000 n Our full privacy policy can be found here, KSA construction cost benchmarking report Q2 2021, Sustainable and ethical business practice, Graduate programme in the Kingdom of Saudi Arabia, Graduate programme in the United Arab Emirates, I have read and agree to the privacy policy. Rates include contractor's general requirements 6. 0000120880 00000 n High inflation and energy costs continue to pose challenges to the construction sector what can investors and owners do? Register your Building for Benchmarking. 0000038220 00000 n | We are global in our reach and office network, but also local in our delivery and relationships. 0000057989 00000 n Net Zero Facilities and Sustainable Communities. <<1EF90807A9A58C4690B016ED39FDA66B>]/Prev 132595/XRefStm 1900>> 0000025091 00000 n %%EOF At AECOM, we believe infrastructure creates opportunity for everyone. The page you requested has generated an unexpected error. Oil prices (Brent & WTI) have continued to gain this year with forecasts in September at $69-$66/bl2 for Q4 2021. The budget for 2022 was set at SAR 955 billion (USD 254.4 billion), of which SAR 42 billion (USD 11.2 billion) was for the infrastructure of transportation, SAR 32 billion (USD 8.5 billion) for general government expenses, and SAR 54 billion (USD 4.4 billion) for economic resources. Saudi Arabia's construction sector is in a high growth trend, driven by the Kigdom's visionairy leader, and Vision 2030. KSA Market Q2 2021 The Saudi construction industry has felt the impact of the Covid-19 pandemic perhaps more acutely than other regions. 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. Inversely, the outlook for the MENA region, specifically the GCC remains strong as diversification plans continue at a rapid pace and oil prices remain robust. Each project has its own unique characteristics. 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. Saudi Arabias construction industry continues to lead the MENA region despite macroeconomic conditions impacting the sector globally. 590 64 0000106311 00000 n 0000106374 00000 n Connect with {name} for more information & questions, Arcadis will use your name and email address only to respond to your question. Thank you for submitting your details. Rates exclude: Contingency Inflation beyond Q1 2020 Soft costs such as but not limited to: professional fees, local authority fees, legal fees, sales and marketing costs or pre-opening costs Land costs Finance costs The Saudi Arabia Construction Cost and Outlook report reviews the change in global commodity prices over the last decade and the main econometrics that have a strong correlation to changes in historical costs for each of the GCC countries. 0000101321 00000 n The report finds that current installed capacity rebar production is well placed to handle forecast demand which is set to increase by 72 per cent from levels in 2012 to 2015. 0000037348 00000 n 0000002342 00000 n Industry revenue of "architectural and engineering . The tough conditions facing the construction sector persisted throughout 2022. 0000027774 00000 n Please accept marketing cookies. | Source: 0000055921 00000 n The KSA construction market is anticipated to grow by 2.9% in 2021. startxref Currie & Brown is an asset management and construction consultancy driven by innovation. These reports will provide you with exclusive research, data and analysis. Compass Project Consulting launched its quarterly construction costs benchmarking report that covers the UAE and KSA audience. This data acts as an indicative high-level guide and comparison of building asset costs and should be used circumspectly. How to Comply with Benchmarking. A rebooted privatization program aimed at injecting much needed foreign direct investments (FDIs) into the Egyptian economy is likely to spur construction activities and accelerate the recovery of Cairos real estate sector in the coming years. 0000002268 00000 n A rebooted privatization program aimed at injecting much needed foreign direct investments (FDIs) into the Egyptian economy is likely to spur construction activities and accelerate the recovery of Cairos real estate sector in the coming years. 0000091166 00000 n ,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@ 'm uSPMHephlWZR+M:typ;^n$@19eLcJl'dD;$X)IuNefQ]y3.GE*'(&n9fdxmf~TW^2^xhRc#{lc`CX@V*Kr mhlR=_4cp]9hVJ4#>=t https://compassinternational.net/books/ Contact, John G. McConville CCP - Operations Director - Compass International Telephone in USA (609) 577 4505 E mail: info@compassinternational.net Breathe life into old space, or create something brand new to help your people thrive. Go beyond cost and risk mitigation. RIYADH, Sept 3: Owning a home has never been more difficult for most Saudis. To find out more about this report, please contact us today. 653 0 obj <>stream Our International Construction Costs 2023 report reveals how inflation, construction costs, finance costs and energy prices have all continued to rise, resulting in fewer transactions and tumbling asset values. "Saudi Arabia Construction Outlook - Dec 2022", https://www.researchandmarkets.com/r/kxjwkl-arabia?w=12. 0000001851 00000 n Published by Statista Research Department , Jan 3, 2023. 0000000016 00000 n 0000002536 00000 n Residential. Data Centres 0000128018 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. KSA Construction Cost | August 2021 Download Report 22 Aug 2021 Following the challenging year of 2020, Saudi Arabia's construction sector has slowly recovered in 2021 with forecasted growth of 2.9%. The KSA construction market is anticipated to grow by 2.9% in 2021. 0000115708 00000 n startxref Data Centres KSA construction cost benchmarking report Q2 2021 Download PDF (0.21MB), Thank you for your enquiry. Construction price inflation to result in higher building costs in 2022 in Saudi Arabia: JLL report JLL has estimated that tender prices rose by an average of 4.5% across Saudi Arabia in 2021, and is anticipating a larger magnitude of increase in 2022 by Angitha Pradeep August 10, 2022 The construction activity within Buildings, Infrastructure, Industrial, Power & Water, Oil & Gas sectors are explained with major events. These articles aim to provoke thoughts in relation to the growing opportunities within the Middle East on subjects such as repurposing underutilized buildings for food security challenges and inner-city agriculture. %%EOF | We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. 0000016222 00000 n This content is blocked. Oil prices (Brent & WTI) have continued to gain this year with forecasts in September at $69-$66/bl2 for Q4 2021. Retail Banker International Asia Trailblazer Summit and Awards, Private Banker International Summit and Awards, Saudi Arabia Construction Cost and Outlook report, Bidders submit proposals for major Aramco PPP project, Neom selects Petrojet for water transmission project, Baghdad approves funds for metro and airport projects, Egypt names groups that can bid for desalination contracts, Top 11 UAE organisations with the healthiest workplace, Join our webinar on developing captive power, Join our webinar on delivering energy-efficient buildings, View our webinar on the outlook for the Mena energy sector, Project quality key to driving growth and attracting investment, The costs of main construction materials, equipment, labour and fuel for KSA, Qatar & UAE, Existing cement production and future facilities, Existing rebar production and future distribution facilities in Qatar, The updated Tender Price Index forecast for KSA, Qatar & UAE, Track the actual construction cost for building projects in the UAE, Qatar and Saudi Arabia, Track actual component costs such as concrete, reinforcing steel and otheritems, Forecast into five years of construction costs in the UAE, Qatar and Saudi Arabia, Provide location cost comparison factors for multiple cities, Forecast industry spend across the GCC which affect pricing, Build customised indices relevant to their project, Qatar Construction Cost and Outlook Report 2012, Saudi Arabia Construction Cost and Outlook Report 2012. \QF@Y2q 0000044935 00000 n International construction market survey 2022. | Positive outlook 0000002156 00000 n 0000028149 00000 n It also offers a range of colour options. We take our responsibility to protect the personal information provided to us seriously. Our International Construction Costs 2023 report reveals how inflation, construction costs, finance costs and energy prices have all continued to rise, resulting in fewer transactions and tumbling asset values. 0000073516 00000 n The handbook also reviews the impacts and threats experienced over the last 12 months on local, regional and international markets. JLL's regular view on global real estate dynamics, covering: investment, office, logistics, retail, hotels and living, as well as CRE market trends. 0000092074 00000 n 0000022151 00000 n Some economists are forecasting $125 a barrel of crude oil, which could increase energy/petro/gasoline prices by 50%. Building Compliance Status (Check your Building) Info on Energy Star Portfolio Manager. Please try again . 0000034164 00000 n Unprecedented world class entertainment projects are happening in Saudi Arabia. 0000092011 00000 n You will receive a link to create a new password via email. 0000007886 00000 n %PDF-1.4 % KSA construction cost benchmarking report Q2 2021 15 July 2021 The latest construction cost benchmarking report for Saudi Arabia is now available for download. There was an error submitting the form. Benchmarking is basically the major benchmark components to be analysed.investigating & researching historical Phase 2: Document and compile a list of the costs & performance, a benchmark was major cost / performance drivers, key component master masons datum point or mark on and collect performance and specific historical cost 0000073261 00000 n 0 qN8lX(&iJkhC[ Increase in number of both Restuarant (F&B) and Offices (Workplace) fit out tenders to market recorded, with 5% - 10% tender price escalation seen. 0000015807 00000 n Residential. There was an error submitting the form. We also help to build careers. This edition of AECOMs Middle East Property & Construction Handbook assesses trends and new opportunities that have presented themselves during another year of recovery. The report explores how investors and owners can take advantage of the opportunities arising from the current downturn, including an actionable five-point plan to plan for future success as the market stabilizes. Middle East Property and Construction Handbook. We are always keen to showcase our expertise and give comments on industry issues of the day.

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