Our technical experts and visionaries harness the power of technology to deliver transformative outcomes. What's New & Alerts. In addition it offers you in depth insight into the supply and demand of cement in Saudi Arabia highlighting its forecast surplus production. Click the red microphone and say what you are looking for or type in this box. Generally the personal information we collect from you are for the purposes of dealing with your enquiry. Economic round-up The Currie & Brown approach is founded on collaborative working to achieve exceptional results. Industry revenue of "architectural and engineering . 0000009488 00000 n 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. This data acts as an indicative high-level guide and comparison of building asset costs and should be used circumspectly. 0000052885 00000 n 0000107129 00000 n 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. Copyright2023 Jones Lang LaSalle IP, Inc. The results shown are indicative only and are to be used as a guide only. These benchmarks & cost metrics have been gathered over two decades from 100s of Oil & Gas, Power, Industrial, Process Projects, Infrastructure & General Buildings & Facilities. 0000044935 00000 n The Kingdom's pipeline value of unawarded (pre-execution) projects is estimated at $1.1 trillion, which includes projects from the study stage through to the main contractor bid. 01 April 2020. 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. Cost of construction to rise by a further 8-9% by . Choose a country or region to see specific content from that location. 590 64 More information can be found in our Privacy policy. Uncover investment opportunities and capital sources all over the world. 2022 Chamber of Commerce Amsterdam, the Netherlands. Dublin, Feb. 15, 2023 (GLOBE NEWSWIRE) -- The "Saudi Arabia Construction Outlook - Dec 2022" report has been added to ResearchAndMarkets.com's offering. Go beyond cost and risk mitigation. 0000055375 00000 n %%EOF 0000027465 00000 n 0000053051 00000 n 0000020742 00000 n A comprehensive source of construction cost data in the Middle East. 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. 454 0 obj <>stream 0000052955 00000 n 0000008941 00000 n Take your business beyond its existing limits. It also sets out our rights in relation to your information and who you can contact for further information or queries. JLL's regular view on global real estate dynamics, covering: investment, office, logistics, retail, hotels and living, as well as CRE market trends. 0062.92.227.B.01. Demand more from your real estate. Rates include contractor's general requirements 6. Increase in number of both Restuarant (F&B) and Offices (Workplace) fit out tenders to market recorded, with 5% - 10% tender price escalation seen. 0000057711 00000 n 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. 0000056463 00000 n Currie & Brown reflects this by offering services addressing every aspect, from concept, design and construction through to the assessment of best-value options for ongoing use, maintenance and operation. Reports & Statistics. 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 trailer 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. To find out more about this report, please contact us today. | Source: 0000115180 00000 n 0000120516 00000 n 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. 0000073261 00000 n T7-0L{}VK_P`\U0&({+h.MW^aOn?5y1CcWk>y[m. KSA was the strongest performer across the GCC in terms of the total value of construction project awards by year-end 2020. 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%. 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. Trade Registry no. 0000001900 00000 n 0000011881 00000 n PIF and its subsidiary companies are shaping the future of Saudi Arabia. startxref If you haven't already registered your interest, simply submit your name and email and we'll make sure to keep you posted on all the exciting announcements we have in store for the event. 0000037709 00000 n trailer 4. Rising inflation has implications for the construction sector globally, and the Middle East is no exception. 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. Uncover investment opportunities and capital sources all over the world. 0000028219 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. 0000009320 00000 n Our global sectors. 0000001851 00000 n | Announcements by Egypt, KSA and UAE of their planned 2022 government spending, the 'race to Net-Zero' commitments and enhancements to the construction sector such as digital transformation are expected to continue to drive growth in the region. 0000069601 00000 n Positive outlook 379 0 obj <> endobj 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. Retirement living, Hotels & Hospitality 0000018126 00000 n 0000098247 00000 n 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. 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. The Saudi Arabia construction sector is predicted to flourish in the next 6 to 12 months after a challenging couple of years. 0000084581 00000 n %PDF-1.4 % i#_&? | 0000104054 00000 n This valuable risk assessment tool covers the UAE, Qatar and Saudi Arabia. https://compassinternational.net/books/ Contact, John G. McConville CCP - Operations Director - Compass International Telephone in USA (609) 577 4505 E mail: info@compassinternational.net Equity, diversity and inclusion are core to our vision - a world where infrastructure creates opportunity for everyone. Move into your first office, find a new one with room to grow, or develop a complete location strategy. @*Bi;i+G{s]Gdt!zn0o#!IT?~XU 7>-MgGgZAHP/Orpo4 H$U-~\o6Ch.G O\/[|" Please get in touch! 0 w Research and Markets The tough conditions facing the construction sector persisted throughout 2022. 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 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. 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. A.a~f_;Td$m!ZCEV'%;4!$0 |~mi~+5;td{LM*~v9b.c y5IJ'nkP:YZ$|cyr+75m%_(R@et|b @U8frfvP1d|0 FU>rHsw5Asbf` ).{+sGKu5X.g.uok_,W?vMt= {st6>uklQ5esdz`0u:anZ xi4]C[yue$Qm[(=lcEx*l YifLN5tPOi February 15, 2023 06:53 ET 653 0 obj <>stream The average price for . Download PDF (0.21MB) Our global services Our global sectors Our locations Our global sectors Each project has its own unique characteristics. 0 qN8lX(&iJkhC[ 0000070110 00000 n | Rates are current as of Q1 2020 5. Building Compliance Status (Check your Building) Info on Energy Star Portfolio Manager. 0000037348 00000 n 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. To generate the results of our Data centre cost index 2022, data centre benchmarking cost data was captured from live or recent projects in more than 20 countries. Proceed to our online shop below to find out more about the features in each package. Oil prices (Brent & WTI) have continued to gain this year with forecasts in September at $69-$66/bl2 for Q4 2021. 0000115994 00000 n 0000104117 00000 n 0000069238 00000 n This statistic displays the prices for construction materials in Saudi Arabia as of the third quarter of 2021. 590 0 obj <> endobj This edition of AECOMs Middle East Property & Construction Handbook assesses trends and new opportunities that have presented themselves during another year of recovery. 0000038220 00000 n MEED MEDIA FZ LLC Company number 18693 (Dubai Creative Clusters Authority) Registered address: GBS building, 6th Floor, Al Falak Street, Dubai Media City, PO Box 25960, Dubai, UAE. hb``a``x~*`b@J Ip(+6w0YQ'qc n*[_^a`7`MixqLCzb3$ ]L8T&8`rfdui[dv_4[|x#H10(%Uq30e )a 0000016169 00000 n Physical assets have complex uses and integrated lifecycles. We also help to build careers. @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 VSW!/9B@Ry-O. hb````)*`c 630H3T04H(`}"A])%!WlIByB;?33&0mb~1a =_zz.4g`=u~v=Z>}f A@!&R{~~hPFv/+1fb+C2IaXa3@ f5 Unprecedented world class entertainment projects are happening in Saudi Arabia. 0000019517 00000 n Alternative procurement routes being considered to manage risk of tender price inflation for major works. 0000022265 00000 n 0000011701 00000 n 0000027747 00000 n Industry revenue of "construction of buildings" in Saudi Arabia 2012-2024. 0000068969 00000 n 0000009674 00000 n 0000002268 00000 n Construction commodities inflation risks due to global events impacting supply chain management. Residential. ,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@ 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. 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. 0000043706 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. Residential. Net Zero Facilities and Sustainable Communities. 0000015807 00000 n HWF}W U#lOHH@!n^KNvUYeRSWFh2o`:}RL_. 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. 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%. HWr8}WiJiBrJl&I2dS[HBRv{ [fqhnt>}lVT}E#JO)aLEO9Wd:'PBe6:{u9K KSA Market Q2 2021 The Saudi construction industry has felt the impact of the Covid-19 pandemic perhaps more acutely than other regions. 0000044179 00000 n 0000014693 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. Data Centres Thank you for submitting your details. 0000101855 00000 n 0000028149 00000 n 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. 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. 0000073956 00000 n 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. 0000007748 00000 n Currie & Brown is an asset management and construction consultancy driven by innovation. Saudi Arabias construction sector is in a high growth trend, driven by the Kigdoms visionairy leader, and Vision 2030. Industrial and Logistics, Raising capital from corporate real estate, Residential 0000101064 00000 n *53z!!|n7Bvvly e?3zu>L=\ hk ?.f0yR\X$6tmJocHLyTZDnXWhoWP8 ^$5as`!7\d,yz}=VHFY$B Fy&FNOf^U_5[q&jHMQ`kVLs%TKyw#AUa(9;m:XkqGaB[ . 0 xref April 06, 2022 The Economist magazine recently identified inflation as one of the three major threats to the global economy in 2022. construction costs only 4. Site bybeMarketing. During this time the construction industry experienced unprecedented growth and decline with the onset of the 2008 financial crises. 0000025091 00000 n 0000092011 00000 n Dubai welcomed over 1.47 million tourists in January, setting a positive pace of growth for the hospitality industry in 2023. Demand more from your real estate. Compass Project Consulting launched its quarterly construction costs benchmarking report that covers the UAE and KSA audience. International construction market survey 2022. Economic indicators, major projects, contractors, consultants and project owners active in the Kingdom are listed with details. %%EOF There was an error submitting the form. 0000052359 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. Our privacy policy explains what information we gather about you, what we use that information for, and who we give that information to. endstream endobj 395 0 obj <>stream We are always keen to showcase our expertise and give comments on industry issues of the day. We support our clients wherever they need us. 0000122254 00000 n 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 / Oil prices (Brent & WTI) have continued to gain this year with forecasts in September at $69-$66/bl2 for Q4 2021. This edition of AECOM's Middle East Property & Construction Handbook assesses trends and new opportunities that have presented themselves during another year of recovery. Research April 14. It is against this backdrop that MCI has compiled its 3rd quarterly report investigating the key drivers affecting the construction industry. says Emil Rademeyer, General Manager, MEED Cost Indices. 0000022380 00000 n 0000055644 00000 n 0000027485 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. 0000009439 00000 n 0000021268 00000 n The construction activity within Buildings, Infrastructure, Industrial, Power & Water, Oil & Gas sectors are explained with major events. We have carefully selected articles written by AECOM specialists, that focus on prevailing themes within the construction and property market. KSA construction cost benchmarking report Q2 2021 15 July 2021 The latest construction cost benchmarking report for Saudi Arabia is now available for download. KSA construction cost benchmarking report Q2 2021 Download PDF (0.21MB), Thank you for your enquiry. Generally the personal information we collect from you are for the purposes of dealing with your enquiry. Please get in touch. 0000096532 00000 n To access exclusive data, research and analysis along with many tables, graphs and charts, you can order your copy here. 0000014557 00000 n 0000038120 00000 n xref 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. Saudi Arabia's construction sector is in a high growth trend, driven by the Kigdom's visionairy leader, and Vision 2030. 0000123992 00000 n Our current off-the-shelf reports include: To find out how MEED Cost Indices can help you gain critical business insight, please submit your details on our contact form below: Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA regions best source of business information. At Currie & Brown we do not just help to build and manage offices, hospitals, airports, power stations, hotels and schools, but we do lots more besides. Whilst one can use the adjacent table as a guide, accurate cost modelling and benchmarking requires a detailed analysis of historical and current projects . Each project has its own unique characteristics. 0000106374 00000 n 0000019251 00000 n As always, we continue to seek your feedback to support our drive for improvement. The Saudi Arabia Construction Cost and Outlook report also investigates the demand for rebar in Qatar from 2012-17. Over the years we have grown our services, expertise and capabilities to meet the needs of our clients while also providing added value at every opportunity.

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