379 76 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. 0Ti Please enter your username or email address. KSA Market Q2 2021 The Saudi construction industry has felt the impact of the Covid-19 pandemic perhaps more acutely than other regions. 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. You can do this here. 0 Cost of construction to rise by a further 8-9% by . 0000069628 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 / 0000022380 00000 n Cost of key materials like cement and steel have risen over 20% YoY in March 2022. Whilst one can use the adjacent table as a guide, accurate cost modelling and benchmarking requires a detailed analysis of historical and current projects . 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. %%EOF 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. 0000069601 00000 n Continued increase in HNWI within prime residential real estate market. 0000106311 00000 n 0000056296 00000 n Take your business beyond its existing limits. 0000085004 00000 n The reference data section provides averaged international and regional cost data within the built environment. Dublin, Feb. 15, 2023 (GLOBE NEWSWIRE) -- The "Saudi Arabia Construction Outlook - Dec 2022" report has been added to ResearchAndMarkets.com's offering. 0000022265 00000 n 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. Dubai welcomed over 1.47 million tourists in January, setting a positive pace of growth for the hospitality industry in 2023. Please accept marketing cookies. These reports will provide you with exclusive research, data and analysis. In addition it offers you in depth insight into the supply and demand of cement in Saudi Arabia highlighting its forecast surplus production. 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. 0000096532 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. 0000000016 00000 n 0000019380 00000 n Retirement living, Hotels & Hospitality PIF and its subsidiary companies are shaping the future of Saudi Arabia. Currie & Brown is involved in a wide range of projects around the globe. endstream endobj 652 0 obj <>/Filter/FlateDecode/Index[12 578]/Length 42/Size 590/Type/XRef/W[1 1 1]>>stream 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. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. 0000025091 00000 n 0000022546 00000 n While the world's economic outlook remains turbulent, the Kingdom's economy remains buoyant. Please get in touch! PIFs development strategy is providing growth opportunities to Saudi local real estate developers. %PDF-1.4 % 0000052359 00000 n This edition of AECOMs Middle East Property & Construction Handbook assesses trends and new opportunities that have presented themselves during another year of recovery. As always, we continue to seek your feedback to support our drive for improvement. Industry revenue of "architectural and engineering . Read our KSA Construction Cost Insight Report to find out more. Along with detailed analysis of Saudi construction costs, this report offers you exclusive and detailed insight into: Order your copy of this exclusive report here. We have grown our network of offices globally to maintain close relationships with our clients while continuously strengthening our understanding of local and regional markets, regulations and business practices. Economic indicators, major projects,. 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. Copyright2023 Jones Lang LaSalle IP, Inc. Research April 14. 0000022151 00000 n Rising inflation has implications for the construction sector globally, and the Middle East is no exception. 01 April 2020. 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$Qm[(=lcEx*l YifLN5tPOi Currie & Brown is unique. 0000002093 00000 n 1. Uncover investment opportunities and capital sources all over the world. Download PDF (0.18MB) Our global services. Saudi Arabias construction sector is in a high growth trend, driven by the Kigdoms visionairy leader, and Vision 2030. HWn6}W6 8FF_EuDo-QL6M!Xs34?Pv]__}`/F?!XN"OE~1q2&kBic |uy=%@|]MveXijJKeUmrGfeWz%*V3HgkGL=!HFrh!hh$F^fd;lm9r . 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. 0000027485 00000 n For more information about how JLL processes your personal data, please view ourprivacy statement. 0 0000068969 00000 n | 0000098310 00000 n 0000016036 00000 n Building Compliance Status (Check your Building) Info on Energy Star Portfolio Manager. 653 0 obj <>stream 590 64 <<1EF90807A9A58C4690B016ED39FDA66B>]/Prev 132595/XRefStm 1900>> JLL's regular view on global real estate dynamics, covering: investment, office, logistics, retail, hotels and living, as well as CRE market trends. Apartment StandardUnprecedented world class entertainment projects are happening in Saudi Arabia, The market is witnessing more procurement . 0000053051 00000 n %%EOF 09051284 VAT: NL Benchmarking Notes Rates are current as of Q1 2020 5. KSA construction cost benchmarking report Q2 2021 15 July 2021 The latest construction cost benchmarking report for Saudi Arabia is now available for download. 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. Move into your first office, find a new one with room to grow, or develop a complete location strategy. Cost of construction soars as global markets balance booming demand with supply chain disruption. 0000115180 00000 n The handbook also reviews the impacts and threats experienced over the last 12 months on local, regional and international markets. 0000055921 00000 n 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, 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. 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. This content is blocked. 0000023236 00000 n 0000002156 00000 n 0000038050 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. 0000008429 00000 n 0000027774 00000 n 0000037590 00000 n qN8lX(&iJkhC[ The KSA construction market is anticipated to grow by 2.9% in 2021. Move into your first office, find a new one with room to grow, or develop a complete location strategy. Trade Registry no. The Saudi Construction Industry ranks high among the world's largest construction markets. 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. 4. Industrial and Logistics, Raising capital from corporate real estate, Residential 0000011881 00000 n We are 36,000 people active in over 70 countries. Lost your password? 454 0 obj <>stream Currie & Brown is an asset management and construction consultancy driven by innovation. Saudi Arabias construction sector remains strongest market across the MENA region: JLL. in The Kingdom of Saudi Arabia Cost models are an essential tool topredict the cost of construction at the inception stage of projects and to benchmark proposed project construction costs against similar developments. 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 Alternative procurement routes being considered to manage risk of tender price inflation for major works. 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. If you are sending us a CV please send it to us via our recruitment pages which can be found here. 2023 Global Data Center Outlook. All data within this application for TPI by Date, TPI by location, Building Costs, and Market Activity are current as at Q4 2022 and are subject to change. Research and Markets. There was an error submitting the form. 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. HWko_1)^{I`rnn6@E[lpEm}g_E"q;t>^QLrDn@ 0000104054 00000 n 0000101064 00000 n 0000009851 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. <<71DFFA9E44CA4F40B415D383B91222A9>]/Prev 139602/XRefStm 2156>> 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. There was an error submitting the form. Oil prices (Brent & WTI) have continued to gain this year with forecasts in September at $69-$66/bl2 for Q4 2021. Uncover investment opportunities and capital sources all over the world. 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. Demand more from your real estate. This edition of AECOM's Middle East Property & Construction Handbook assesses trends and new opportunities that have presented themselves during another year of recovery. 0000028149 00000 n 0000038120 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. 0000014557 00000 n 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%. | This statistic displays the prices for construction materials in Saudi Arabia as of the third quarter of 2021. 0000092074 00000 n 0000058278 00000 n 0000014855 00000 n Sign up today for your free Reader Account. This data acts as an indicative high-level guide and comparison of building asset costs and should be used circumspectly. T7-0L{}VK_P`\U0&({+h.MW^aOn?5y1CcWk>y[m. Hospitality sector is showing strong rebound from Covid lows, including for both New Build, and Refubishment and Alteration projects. 25-27 September 2023 Hilton Abu Dhabi Yas Island, Constructions Costs Benchmarking Report by Compass. hb````)*`c 630H3T04H(`}"A])%!WlIByB;?33&0mb~1a =_zz.4g`=u~v=Z>}f A@!&R{~~hPFv/+1fb+C2IaXa3@ f5 Introduction Construction cost benchmarking is achieved by considering various parameters: General Conditions, Design Proposal, Design Builder's Fee, Overhead, Profit, Procurement Markup, Contingency Allowance, Retainage Application, Change Order Markup for General Contractor and Sub Contractor (OH&P), and Sub Contractor Markup. endstream endobj 395 0 obj <>stream 0000084581 00000 n Data Centres Equity, diversity and inclusion are core to our vision - a world where infrastructure creates opportunity for everyone. 0000013300 00000 n Saudi Arabias construction industry continues to lead the MENA region despite macroeconomic conditions impacting the sector globally. Click the red microphone and say what you are looking for or type in this box. 0000037348 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. 0000106374 00000 n 0000038220 00000 n Unprecedented world class entertainment projects are happening in Saudi Arabia. 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. 0000120516 00000 n Research and Markets High inflation and energy costs continue to pose challenges to the construction sector what can investors and owners do? 0000027465 00000 n Saudi Arabia's construction industry is forecast to recover in 2021, growing by 2.9%, after contracting by an estimated 0.5% in 2020. Please try again. Increase in number of both Restuarant (F&B) and Offices (Workplace) fit out tenders to market recorded, with 5% - 10% tender price escalation seen. Industry revenue of "construction of buildings" in Saudi Arabia 2012-2024. 0000051932 00000 n This valuable risk assessment tool covers the UAE, Qatar and Saudi Arabia. 0000073516 00000 n 0000011701 00000 n Generally the personal information we collect from you are for the purposes of dealing with your enquiry. hbbbd`b``3 1x4> 3 ,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@ HWF}W U#lOHH@!n^KNvUYeRSWFh2o`:}RL_. Our locations. 0000022450 00000 n Positive outlook Were happy to discuss the findings of the report with you. It is a unique combination of updates from professionals on the ground and insights from our leading research experts. At Currie & Brown, we recognise such differences and have established specialist teams to ensure that our client solutions ideally balance technical knowledge and capability with sector expertise. Compass leads construction projects from concept right through to completion with services including. I would like to receive communications from JLL. i#_&? 0000016169 00000 n Some economists are forecasting $125 a barrel of crude oil, which could increase energy/petro/gasoline prices by 50%. 0000002342 00000 n Economic round-up A comprehensive source of construction cost data in the Middle East. Despite near-term . ScrYI~Zl'K0ocoMmA^+dA"a}t9Ov[-uYJ,@e}J"&iPV"@]HmZqF`D7(wLH0>S758O2gn@}YNDN0k(}ushAy)VJ lNF6z`Dx^b:Y`.%Emn:z9|g&CdXI .DkYh%g2pBM',2hS>jg&"]:~J%"G>\DYz7j"lNG \QF@Y2q Our global sectors. 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. Economic indicators, major projects, contractors, consultants and project owners active in the Kingdom are listed with details. HWr8}WiJiBrJl&I2dS[HBRv{ [fqhnt>}lVT}E#JO)aLEO9Wd:'PBe6:{u9K Learn how to balance the impact of inflation, Download the International Construction Costs 2023 Report, Our annual review of the construction market. The implementation of restrictions in the Kingdom led to targeted government cost-saving measures, including reduced expenditure on giga-project investment. 0000069238 00000 n | 0000028219 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. The KSA construction market is anticipated to grow by 2.9% in 2021. It also sets out our rights in relation to your information and who you can contact for further information or queries. We also help to build careers. 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. 0000058653 00000 n Choose a country or region to see specific content from that location. The average price for . The database focuses on the following construction categories: Refineries, Oil & Gas, Petro-Chemicals, LNG, Ethylene Facilities & Other Process related Facilities Oil prices (Brent & WTI) have continued to gain this year with forecasts in September at $69-$66/bl2 for Q4 2021. Reports & Statistics. 0000107129 00000 n @*Bi;i+G{s]Gdt!zn0o#!IT?~XU 7>-MgGgZAHP/Orpo4 H$U-~\o6Ch.G O\/[|" Please try again . 0000021268 00000 n 0000018126 00000 n 0000128018 00000 n The government is also giving more importance to strengthen private sector participation in these projects. 0000001900 00000 n 0000052955 00000 n 0000101321 00000 n 0000037709 00000 n bXdGYv:m4"bv3pV . We take our responsibility to protect the personal information provided to us seriously. 0000009674 00000 n 0000002268 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. trailer Your username or password is invalid. "Saudi Arabia Construction Outlook - Dec 2022", https://www.researchandmarkets.com/r/kxjwkl-arabia?w=12. Generally the personal information we collect from you are for the purposes of dealing with your enquiry. 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. 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. RIYADH, Sept 3: Owning a home has never been more difficult for most Saudis. We have carefully selected articles written by AECOM specialists, that focus on prevailing themes within the construction and property market. The handbook also reviews the impacts and threats experienced over the last 12 months on local, regional and international markets. 0000030296 00000 n 0000015267 00000 n xref Construction commodities inflation risks due to global events impacting supply chain management. For additional information refer to our 2018 Global Construction Costs Yearbook that details construction costs in 101 countries. The Currie & Brown approach is founded on collaborative working to achieve exceptional results. 0000104117 00000 n Site bybeMarketing. 0000007713 00000 n Soaring construction costs, land speculation, lack of bank financing and poor government assistance have aggravated. 0000084326 00000 n Please download the full report to access the reference data. The construction activity within Buildings, Infrastructure, Industrial, Power & Water, Oil & Gas sectors are explained with major events. Go beyond cost and risk mitigation. 0000092011 00000 n @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 0000019251 00000 n 0000073956 00000 n 0000015987 00000 n $z=BZ7#;4]t3EC0Z0'Z1B)b8zM)*T5s\PJ7LTcV\NSJ\&rzye~SxZ%L n$c9(Edl} 4s?w/[7ulZ 2mi%17,Lml0P7^F elcd4u;OI8{99~qF#1^&w6s%r"5v gBT.GbK(/_;4./\ Go beyond cost and risk mitigation. It also offers a range of colour options. Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. 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. 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. For more information about how JLL processes your personal data, please view ourprivacy statement. In 2022, the industry is projected to continue to. We take our responsibility to protect the personal information provided to us seriously. April 06, 2022 The Economist magazine recently identified inflation as one of the three major threats to the global economy in 2022. 0000007886 00000 n You will receive a link to create a new password via email. 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. 0000115848 00000 n 0000015807 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. 0000007748 00000 n construction costs only 4. 0000021920 00000 n According to the publisher's Q4 2021 Global Construction Survey, construction industry in United Arab Emirates is expected to grow by 6.8% to reach AED 245,982 million in 2022. Each project has its own unique characteristics. Breathe life into old space, or create something brand new to help your people thrive.
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