%%EOF 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 . 0000055375 00000 n Construction commodities inflation risks due to global events impacting supply chain management. Unprecedented world class entertainment projects are happening in Saudi Arabia. 0000027207 00000 n 0000038120 00000 n Retail shopping facility construction costs in the U.S. 2022, by city Retail real estate under construction in the U.S. 2021-2022, by type Value of new U.S. private sector food and beverage . 0000000016 00000 n 0000056296 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. The page you requested has generated an unexpected error. 0000107192 00000 n T7-0L{}VK_P`\U0&({+h.MW^aOn?5y1CcWk>y[m. 0000014716 00000 n As always, we continue to seek your feedback to support our drive for improvement. Research and Markets Demand more from your real estate. You can do this here. Middle East Property and Construction Handbook. Saudi Arabia - Construction Costs Books | Compass International The latest construction cost benchmarking report for Saudi Arabia is now available for download. There was an error submitting the form. 0000038220 00000 n Industry revenue of "construction of buildings" in Saudi Arabia 2012-2024. To find out more about this report, please contact us today. 0000122254 00000 n MCIis the MiddleEasts firstTender Price Index -a premium subscription-only construction index. 0000115848 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. Colliers | KSA Construction Cost | August 2021 Breathe life into old space, or create something brand new to help your people thrive. 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. In 2022, the construction industry's output was supported by the huge pipeline of projects such as Neom, the Red Sea project, Amaala, Qiddiya among others. KSA market overview - November 2022 16 November 2022 Our latest KSA report summarises the current asset typology benchmarks with a specific focus on the tender price index (TPI). startxref The handbook also reviews the impacts and threats experienced over the last 12 months on local, regional and international markets. 0000101615 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. For additional information refer to our 2018 Global Construction Costs Yearbook that details construction costs in 101 countries. Overall, the construction industry in KSA seems to be booming and this trend is expected to continue in the coming years as well. i#_&? 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. 25-27 September 2023 Hilton Abu Dhabi Yas Island, Constructions Costs Benchmarking Report by Compass. High inflation and energy costs continue to pose challenges to the construction sector what can investors and owners do? 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. hb``a``x~*`b@J Ip(+6w0YQ'qc n*[_^a`7`MixqLCzb3$ ]L8T&8`rfdui[dv_4[|x#H10(%Uq30e )a Go beyond cost and risk mitigation. As with previous years, we include as a point of reference a synopsis of typical regional procurement routes, forms of contract and building regulation compliance across the Middle East. Please get in touch. 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. Classification of the Construction Industry, For more information about this report visit https://www.researchandmarkets.com/r/kxjwkl-arabia?w=12. We take our responsibility to protect the personal information provided to us seriously. 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. Rates are current as of Q1 2020 5. 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. 0000107129 00000 n Current Ukraine crisis has since led to a further jump in energy and commodity prices. 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. 0000014855 00000 n VSW!/9B@Ry-O. 'm uSPMHephlWZR+M:typ;^n$@19eLcJl'dD;$X)IuNefQ]y3.GE*'(&n9fdxmf~TW^2^xhRc#{lc`CX@V*Kr mhlR=_4cp]9hVJ4#>=t 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, 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. Currie & Brown is involved in a wide range of projects around the globe. Breathe life into old space, or create something brand new to help your people thrive. 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. 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. 0000053051 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 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. Please accept marketing cookies. Oil prices (Brent & WTI) have continued to gain this year with forecasts in September at $69-$66/bl2 for Q4 2021. PDF KSA Market Q2 2021 - Currie & Brown I would like to receive communications from JLL. 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. Unprecedented world class entertainment projects are happening in Saudi Arabia. 0000022450 00000 n The handbook also reviews the impacts and threats experienced over the last 12 months on local, regional and international markets. HWko_1)^{I`rnn6@E[lpEm}g_E"q;t>^QLrDn@ 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. Uncover investment opportunities and capital sources all over the world. Colliers | KSA Construction Cost | August 2021 Proceed to our online shop below to find out more about the features in each package. Thank you for submitting your details. Client bulletins - Media - Currie & Brown Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. The market is witnessing PPP opportunities, further boosting the local market, benefiting local expertise in development projects. xref 0000073261 00000 n KSA construction cost benchmarking report Q1 2020 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. All costs are converted into US . The Kingdom's pipeline value of unawarded (pre-execution) projects is estimated at $1.1 trillion, which includes projects from the study stage through to the main contractor bid. RIYADH, Sept 3: Owning a home has never been more difficult for most Saudis. A.a~f_;Td$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 0000019251 00000 n Industrial and Logistics, Raising capital from corporate real estate, Residential 653 0 obj <>stream There was an error submitting the form. | Market size of smart HVAC for homes in Saudi Arabia 2012-2022. The implementation of restrictions in the Kingdom led to targeted government cost-saving measures, including reduced expenditure on giga-project investment. Rising construction costs to push real estate prices in 2022: Colliers 0000055894 00000 n We support our clients wherever they need us. 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%. Middle East Countries Construction Costs - Compass International 0000113392 00000 n Like the nature of any project, its interpretation is dependent upon several project specific factors and assumptions. The latest construction cost benchmarking report for Saudi Arabia is now available for download. Dubai welcomed over 1.47 million tourists in January, setting a positive pace of growth for the hospitality industry in 2023. 0000011701 00000 n PDF SAMPLE - Compass International 0000028320 00000 n 0000007713 00000 n 0000101321 00000 n 0000044152 00000 n The KSA construction market is anticipated to grow by 2.9% in 2021. 0000034164 00000 n Data Centres 0000022546 00000 n 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. 0000115708 00000 n 0000052955 00000 n KSA Construction Cost Insight Report - JLL MENA 0000019517 00000 n PDF Construction Costs Benchmarking Kingdom of Saudi Arabia 0000007748 00000 n Saudi Arabia's construction sector is in a high growth trend, driven by the Kigdom's visionairy leader, and Vision 2030. 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. 0000043435 00000 n We will then delete it safely and securely. KSA Market Q2 2021 The Saudi construction industry has felt the impact of the Covid-19 pandemic perhaps more acutely than other regions. 0000023236 00000 n 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. 4. | Source: The Saudi Construction Industry ranks high among the world's largest construction markets. 0000130191 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. 0000096532 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. Uncover investment opportunities and capital sources all over the world. startxref 0000002342 00000 n Some economists are forecasting $125 a barrel of crude oil, which could increase energy/petro/gasoline prices by 50%. 0000007886 00000 n 0000068969 00000 n 0000123992 00000 n Currie & Brown is an asset management and construction consultancy driven by innovation. 0000038050 00000 n 0000111654 00000 n International construction market survey 2022. 0000052885 00000 n This statistic displays the prices for construction materials in Saudi Arabia as of the third quarter of 2021. Benchmarking Notes hb````)*`c 630H3T04H(`}"A])%!WlIByB;?33&0mb~1a =_zz.4g`=u~v=Z>}f A@!&R{~~hPFv/+1fb+C2IaXa3@ f5 The results shown are indicative only and are to be used as a guide only. Read our KSA Construction Cost Insight Report to find out more. Move into your first office, find a new one with room to grow, or develop a complete location strategy. 0000022380 00000 n %r+C;YPxl$Q3*Q$JYu_iJVF$Th&x6B/!xlP:Ni4# Middle East Property and Construction Handbook 2022 - Home 0000069238 00000 n Cost of construction to rise by a further 8-9% by . 0 0000115180 00000 n Trade Registry no.