0000023236 00000 n 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. qN8lX(&iJkhC[ We are 36,000 people active in over 70 countries. 0000027465 00000 n 0000091166 00000 n Unprecedented world class entertainment projects are happening in Saudi Arabia. How to Comply with Benchmarking. The reference data section provides averaged international and regional cost data within the built environment. 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. 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. 0000120880 00000 n 0000084581 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./\ April 06, 2022 The Economist magazine recently identified inflation as one of the three major threats to the global economy in 2022. xref 0000008429 00000 n The handbook also reviews the impacts and threats experienced over the last 12 months on local, regional and international markets. Learn how to balance the impact of inflation, Download the International Construction Costs 2023 Report, Our annual review of the construction market. Alternative procurement routes being considered to manage risk of tender price inflation for major works. 0 This statistic displays the prices for construction materials in Saudi Arabia as of the third quarter of 2021. 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. Saudi Arabia's construction industry is forecast to recover in 2021, growing by 2.9%, after contracting by an estimated 0.5% in 2020. trailer 0000019251 00000 n 0000000016 00000 n 4. hb````)*`c 630H3T04H(`}"A])%!WlIByB;?33&0mb~1a =_zz.4g`=u~v=Z>}f A@!&R{~~hPFv/+1fb+C2IaXa3@ f5 0000038120 00000 n The implementation of restrictions in the Kingdom led to targeted government cost-saving measures, including reduced expenditure on giga-project investment. 0000015267 00000 n 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. It also sets out our rights in relation to your information and who you can contact for further information or queries. HWF}W U#lOHH@!n^KNvUYeRSWFh2o`:}RL_. Please accept marketing cookies. 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. Rising inflation has implications for the construction sector globally, and the Middle East is no exception. | Source: Residential. Compass Project Consulting launched its quarterly construction costs benchmarking report that covers the UAE and KSA audience. KSA was the strongest performer across the GCC in terms of the total value of construction project awards by year-end 2020. | 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. 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. 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 / We also help to build careers. Register your Building for Benchmarking. 379 76 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. Currie & Brown is an asset management and construction consultancy driven by innovation. The KSA construction market is anticipated to grow by 2.9% in 2021. We are always keen to showcase our expertise and give comments on industry issues of the day. KSA Market Q2 2021 The Saudi construction industry has felt the impact of the Covid-19 pandemic perhaps more acutely than other regions. 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. 0000014693 00000 n 0000058251 00000 n 0000007886 00000 n trailer 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. 0000073516 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. Implement tools, processes and strategies that improve the value and performance of your real estate. If you are sending us a CV please send it to us via our recruitment pages which can be found here. %PDF-1.4 % 379 0 obj <> endobj It also offers a range of colour options. I would like to receive communications from JLL. 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%. Industrial and Logistics, Raising capital from corporate real estate, Residential 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. Physical assets have complex uses and integrated lifecycles. Saudi Arbia's construction sector is in a high growth trend, driven by the Kigdom's visionairy leader, and Vision 2030. 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. 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. 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. 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. i#_&? 0000057989 00000 n Research and Markets These benchmarks & cost metrics have been gathered over two decades from 100s of Oil & Gas, Power, Industrial, Process Projects, Infrastructure & General Buildings & Facilities. Equity, diversity and inclusion are core to our vision - a world where infrastructure creates opportunity for everyone. These reports will provide you with exclusive research, data and analysis. "Saudi Arabia Construction Outlook - Dec 2022", https://www.researchandmarkets.com/r/kxjwkl-arabia?w=12. The KSA construction market is anticipated to grow by 2.9% in 2021. 0000058653 00000 n 0000055644 00000 n 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 0000056463 00000 n %%EOF The latest construction cost benchmarking report for Saudi Arabia is now available for download. 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. 0000028320 00000 n RIYADH, Sept 3: Owning a home has never been more difficult for most Saudis. 0000052359 00000 n 0000056296 00000 n 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 . Lost your password? Unprecedented world class entertainment projects are happening in Saudi Arabia. Construction Costs. 0000022450 00000 n About ResearchAndMarkets.comResearchAndMarkets.com is the world's leading source for international market research reports and market data. T7-0L{}VK_P`\U0&({+h.MW^aOn?5y1CcWk>y[m. In addition it offers you in depth insight into the supply and demand of cement in Saudi Arabia highlighting its forecast surplus production. 0000019113 00000 n The Saudi Construction Industry ranks high among the world's largest construction markets. 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). 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. 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 database focuses on the following construction categories: Refineries, Oil & Gas, Petro-Chemicals, LNG, Ethylene Facilities & Other Process related Facilities @*Bi;i+G{s]Gdt!zn0o#!IT?~XU 7>-MgGgZAHP/Orpo4 H$U-~\o6Ch.G O\/[|" 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. 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. The market is witnessing PPP opportunities, further boosting the local market, benefiting local expertise in development projects. 0000115708 00000 n We believe strongly in protecting your privacy. 0000015987 00000 n We are global in our reach and office network, but also local in our delivery and relationships. 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. 0000001900 00000 n Within our detailed economic round-up, we discuss the global and MENA regions current economic and construction performance and present the upcoming challenges and expected future opportunities. Demand more from your real estate. 0000022265 00000 n 0000107129 00000 n 0000058278 00000 n 0000052332 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@ Please try again. endstream endobj 453 0 obj <>/Filter/FlateDecode/Index[10 369]/Length 35/Size 379/Type/XRef/W[1 1 1]>>stream We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. To access exclusive data, research and analysis along with many tables, graphs and charts, you can order your copy here. Move into your first office, find a new one with room to grow, or develop a complete location strategy. 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. Continued increase in HNWI within prime residential real estate market. More information can be found in our Privacy policy. 0000056366 00000 n Uncover investment opportunities and capital sources all over the world. 25-27 September 2023 Hilton Abu Dhabi Yas Island, Constructions Costs Benchmarking Report by Compass. Go beyond cost and risk mitigation. 0000118220 00000 n During this time the construction industry experienced unprecedented growth and decline with the onset of the 2008 financial crises. 0000120516 00000 n The results shown are indicative only and are to be used as a guide only. Compass leads construction projects from concept right through to completion with services including. 0000122254 00000 n 0000114925 00000 n 0000013300 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. 0000096595 00000 n 0000073261 00000 n 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. 0000044768 00000 n 0000016036 00000 n 0000101855 00000 n \QF@Y2q Take your business beyond its existing limits. 0000002342 00000 n 0000101615 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. 0000109916 00000 n 0000002268 00000 n Please try again. @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 0000084326 00000 n