0000002268 00000 n PIF and its subsidiary companies are shaping the future of Saudi Arabia. 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. Cost of construction up 10-12% YoY; surging cost likely to push up real estate prices. A comprehensive source of construction cost data in the Middle East. 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. 0000007713 00000 n 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. "Saudi Arabia Construction Outlook - Dec 2022", https://www.researchandmarkets.com/r/kxjwkl-arabia?w=12. Unprecedented world class entertainment projects are happening in Saudi Arabia. 0000002093 00000 n More information can be found in our Privacy policy. Classification of the Construction Industry, For more information about this report visit https://www.researchandmarkets.com/r/kxjwkl-arabia?w=12. i#_&? Saudi Arabia's construction industry is forecast to recover in 2021, growing by 2.9%, after contracting by an estimated 0.5% in 2020. 0000025091 00000 n The Saudi Construction Industry ranks high among the world's largest construction markets. 0000096532 00000 n 0000101615 00000 n 0 Implement tools, processes and strategies that improve the value and performance of your real estate. Breathe life into old space, or create something brand new to help your people thrive. Saudi Arabia's construction sector is in a high growth trend, driven by the Kigdom's visionairy leader, and Vision 2030. The Currie & Brown approach is founded on collaborative working to achieve exceptional results. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. 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. 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 / Move into your first office, find a new one with room to grow, or develop a complete location strategy. I would like to receive communications from JLL. Market size of smart HVAC for homes in Saudi Arabia 2012-2022. 2022 Middle East Construction Labor, Material, Labor Productivity & Cost Databases / PDF's Countries covered includes Bahrain, Egypt, Iraq, Kuwait, Qatar, Saudi Arabia, Turkey, UAE & (6) other . 0000027207 00000 n This content is blocked. 0000001851 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. 0000016036 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. HWr8}WiJiBrJl&I2dS[HBRv{ [fqhnt>}lVT}E#JO)aLEO9Wd:'PBe6:{u9K So far, developers have been cautious about increasing prices as the market was recovering from the aftermath of Covid-19. 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%. 0000015807 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. Construction commodities inflation risks due to global events impacting supply chain management. 0000057711 00000 n Data Centres KSA Market Q2 2021 The Saudi construction industry has felt the impact of the Covid-19 pandemic perhaps more acutely than other regions. 0000104117 00000 n 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. Register your Building for Benchmarking. 0000013300 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. 0000098310 00000 n We will be in touch with the latest news and insights. MCIis the MiddleEasts firstTender Price Index -a premium subscription-only construction index. Hospitality sector is showing strong rebound from Covid lows, including for both New Build, and Refubishment and Alteration projects. To find out more about this report, please contact us today. 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. 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. Sign up today for your free Reader Account. 0000069238 00000 n 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 0000022450 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. 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. About ResearchAndMarkets.comResearchAndMarkets.com is the world's leading source for international market research reports and market data. 0000038220 00000 n 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 The database focuses on the following construction categories: Refineries, Oil & Gas, Petro-Chemicals, LNG, Ethylene Facilities & Other Process related Facilities 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. 0000101064 00000 n We believe strongly in protecting your privacy. Our locations. Construction Costs. 0000098247 00000 n %%EOF endstream endobj 453 0 obj <>/Filter/FlateDecode/Index[10 369]/Length 35/Size 379/Type/XRef/W[1 1 1]>>stream | 0000073516 00000 n 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. 590 64 0000027774 00000 n 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. 0000107192 00000 n startxref 0000092074 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. We have carefully selected articles written by AECOM specialists, that focus on prevailing themes within the construction and property market. Your username or password is invalid. 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 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. 0000113392 00000 n Equity, diversity and inclusion are core to our vision - a world where infrastructure creates opportunity for everyone. Please download the full report to access the reference data. 0000014557 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[ . The implementation of restrictions in the Kingdom led to targeted government cost-saving measures, including reduced expenditure on giga-project investment. 25-27 September 2023 Hilton Abu Dhabi Yas Island, Constructions Costs Benchmarking Report by Compass. hbbbd`b``3 1x4> 3 Go beyond cost and risk mitigation. 0000015987 00000 n 0000056296 00000 n 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. The Saudi Arabia Construction Cost and Outlook report also investigates the demand for rebar in Qatar from 2012-17. 0000008941 00000 n 0000002156 00000 n 0000053051 00000 n 01 April 2020. 0000130191 00000 n 0000002342 00000 n There is an inflow of experienced talents and organisations from around the globe to KSA. The Saudi Arabia construction sector is predicted to flourish in the next 6 to 12 months after a challenging couple of years. endstream endobj 591 0 obj <>/Metadata 10 0 R/PageLabels 7 0 R/Pages 9 0 R/StructTreeRoot 12 0 R/Type/Catalog/ViewerPreferences<>>> endobj 592 0 obj >/PageTransformationMatrixList<0[1.0 0.0 0.0 1.0 -420.945 -297.638]>>/PageUIDList<0 57774>>/PageWidthList<0 841.89>>>>>>/Resources<>/ExtGState<>/Font<>/ProcSet[/PDF/Text/ImageC/ImageI]/XObject<>>>/Rotate 0/StructParents 0/TrimBox[0.0 0.0 841.89 595.276]/Type/Page>> endobj 593 0 obj <> endobj 594 0 obj <> endobj 595 0 obj <> endobj 596 0 obj [/Separation/PANTONE#20315#20C/DeviceCMYK<>] endobj 597 0 obj [/Indexed/DeviceRGB 64 608 0 R] endobj 598 0 obj [/Separation/PANTONE#20Orange#20021#20C 609 0 R<>] endobj 599 0 obj <>stream

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