0000001607 00000 n Generally the personal information we collect from you are for the purposes of dealing with your enquiry. Research April 14. %%EOF 0000016036 00000 n Trade Registry no. 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%. The market is witnessing more procurement and construction works starting for Giga projects, plus higher than normal tender returns for fast paced projects. 590 64 0000043435 00000 n For more information about how JLL processes your personal data, please view ourprivacy statement. 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%. You will receive a link to create a new password via email. What's New & Alerts. @*Bi;i+G{s]Gdt!zn0o#!IT?~XU 7>-MgGgZAHP/Orpo4 H$U-~\o6Ch.G O\/[|" It also offers a range of colour options. Sign up today for your free Reader Account. There was an error submitting the form. The Saudi Arabia construction sector is predicted to flourish in the next 6 to 12 months after a challenging couple of years. 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 0000037823 00000 n 0000015807 00000 n Currie & Brown is involved in a wide range of projects around the globe. 0000027465 00000 n 0000069238 00000 n 0000115994 00000 n 0000115180 00000 n 0000109916 00000 n hbbbd`b``3 1x4> 3 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 additional information refer to our 2018 Global Construction Costs Yearbook that details construction costs in 101 countries. 0000037935 00000 n \QF@Y2q | 0000019113 00000 n 0000014716 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 0000016222 00000 n Increase in number of both Restuarant (F&B) and Offices (Workplace) fit out tenders to market recorded, with 5% - 10% tender price escalation seen. <<1EF90807A9A58C4690B016ED39FDA66B>]/Prev 132595/XRefStm 1900>> This edition of AECOM's Middle East Property & Construction Handbook assesses trends and new opportunities that have presented themselves during another year of recovery. %r+C;YPxl$Q3*Q$JYu_iJVF$Th&x6B/!xlP:Ni4# 0000019380 00000 n 0000101064 00000 n 0000011881 00000 n 0000114925 00000 n Choose a country or region to see specific content from that location. 0000057711 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. 0000073261 00000 n Connect with {name} for more information & questions, Arcadis will use your name and email address only to respond to your question. 0000107129 00000 n trailer construction costs only 4. PIFs development strategy is providing growth opportunities to Saudi local real estate developers. These benchmarks & cost metrics have been gathered over two decades from 100s of Oil & Gas, Power, Industrial, Process Projects, Infrastructure & General Buildings & Facilities. The Saudi Construction Industry ranks high among the world's largest construction markets. 0000092011 00000 n 0000056296 00000 n Go beyond cost and risk mitigation. 0000113392 00000 n 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. 0000028149 00000 n 0000043706 00000 n Industrial and Logistics, Raising capital from corporate real estate, Residential Click the red microphone and say what you are looking for or type in this box. 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 $87 billion as tracked by MEED Projects. There is an inflow of experienced talents and organisations from around the globe to KSA. Saudi Arabias construction industry continues to lead the MENA region despite macroeconomic conditions impacting the sector globally. HWn6}W6 8FF_EuDo-QL6M!Xs34?Pv]__}`/F?!XN"OE~1q2&kBic |uy=%@|]MveXijJKeUmrGfeWz%*V3HgkGL=!HFrh!hh$F^fd;lm9r . 0000101855 00000 n 0000034164 00000 n Rates are current as of Q1 2020 5. Economic round-up Proceed to our online shop below to find out more about the features in each package. I would like to receive communications from JLL. Copyright2023 Jones Lang LaSalle IP, Inc. The Saudi Arabia Construction Cost and Outlook report also investigates the demand for rebar in Qatar from 2012-17. Whilst one can use the adjacent table as a guide, accurate cost modelling and benchmarking requires a detailed analysis of historical and current projects . 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 . 0000030296 00000 n %%EOF 0000053051 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. 0000106311 00000 n 0000008025 00000 n If you are sending us a CV please send it to us via our recruitment pages which can be found here. 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. We have carefully selected articles written by AECOM specialists, that focus on prevailing themes within the construction and property market. 0000027747 00000 n The handbook also reviews the impacts and threats experienced over the last 12 months on local, regional and international markets. 0000101678 00000 n startxref | Uncover investment opportunities and capital sources all over the world. Saudi Arabia's construction industry is forecast to recover in 2021, growing by 2.9%, after contracting by an estimated 0.5% in 2020. Economic indicators, major projects,. 590 0 obj <> endobj It will offer you means of identifying and managing escalation related risk in the construction sector. February 15, 2023 06:53 ET 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. o;_/;Pn>(#I:KHrWz)O2wzM=v`t Gio0$0X~ OT8l1Nn %=j 0 AP 0000058278 00000 n A rebooted privatization program aimed at injecting much needed foreign direct investments (FDIs) into the Egyptian economy is likely to spur construction activities and accelerate the recovery of Cairos real estate sector in the coming years. 0062.92.227.B.01. Unprecedented world class entertainment projects are happening in Saudi Arabia 2022, professional fees, statutory fees, legal fees, The market is witnessing more procurement and construction works starting for Giga projects, 0000055644 00000 n 0000052332 00000 n I would like to receive communications from JLL. The report explains in detail how and why the index has been created, explains the need for such a tool, analyses the factors that have influenced the price movements over the past decade and looks ahead to how these may affect the index in the future. When photographs from the year 2000 are placed next to more recent photos of the major cities in Qatar, Saudi Arabia and the United Arab Emirates, it is hard to digest that all this change happened in just over a decade. The tough conditions facing the construction sector persisted throughout 2022. | trailer 2022 Middle East Construction Labor, Material, Labor Productivity & Cost Databases / PDF's Countries covered includes Bahrain, Egypt, Iraq, Kuwait, Qatar, Saudi Arabia, Turkey, UAE & (6) other . We are global in our reach and office network, but also local in our delivery and relationships. April 06, 2022 The Economist magazine recently identified inflation as one of the three major threats to the global economy in 2022. 0000069601 00000 n Please try again. 0000009488 00000 n hb``a``x~*`b@J Ip(+6w0YQ'qc n*[_^a`7`MixqLCzb3$ ]L8T&8`rfdui[dv_4[|x#H10(%Uq30e )a 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. 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. JLL's regular view on global real estate dynamics, covering: investment, office, logistics, retail, hotels and living, as well as CRE market trends. 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. Industrial and Logistics, Raising capital from corporate real estate, Residential 0000019251 00000 n To access exclusive data, research and analysis along with many tables, graphs and charts, you can order your copy here. Construction commodities inflation risks due to global events impacting supply chain management. At AECOM, we believe infrastructure creates opportunity for everyone. 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. 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 393 0 obj [/Separation/PANTONE#20315#20C/DeviceCMYK<>] endobj 394 0 obj <>stream ,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@ These reports will provide you with exclusive research, data and analysis. VSW!/9B@Ry-O. 0000008941 00000 n Please try again . Our privacy policy explains what information we gather about you, what we use that information for, and who we give that information to. 0000007886 00000 n 0000052359 00000 n The reference data section provides averaged international and regional cost data within the built environment. Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. Cost of construction soars as global markets balance booming demand with supply chain disruption. Move into your first office, find a new one with room to grow, or develop a complete location strategy. We will then delete it safely and securely. This statistic displays the prices for construction materials in Saudi Arabia as of the third quarter of 2021. We will be in touch with the latest news and insights. %PDF-1.4 % qN8lX(&iJkhC[ 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 0000101321 00000 n The results shown are indicative only and are to be used as a guide only. HWF}W U#lOHH@!n^KNvUYeRSWFh2o`:}RL_. In addition it offers you in depth insight into the supply and demand of cement in Saudi Arabia highlighting its forecast surplus production. 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. 0000070110 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. All costs are converted into US . 0000116057 00000 n %PDF-1.4 % 0000104054 00000 n 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. bXdGYv:m4"bv3pV 0000101615 00000 n i#_&? MCIis the MiddleEasts firstTender Price Index -a premium subscription-only construction index. 0000098310 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. Currie & Brown is an asset management and construction consultancy driven by innovation. 'm uSPMHephlWZR+M:typ;^n$@19eLcJl'dD;$X)IuNefQ]y3.GE*'(&n9fdxmf~TW^2^xhRc#{lc`CX@V*Kr mhlR=_4cp]9hVJ4#>=t 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. 0000028320 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 0000009439 00000 n Research and Markets 0000000016 00000 n Classification of the Construction Industry, For more information about this report visit https://www.researchandmarkets.com/r/kxjwkl-arabia?w=12. Current Ukraine crisis has since led to a further jump in energy and commodity prices. Net Zero Facilities and Sustainable Communities. 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. 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. You can do this here. 0000019517 00000 n 0 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. 01 April 2020. 0000130191 00000 n Dublin, Feb. 15, 2023 (GLOBE NEWSWIRE) -- The "Saudi Arabia Construction Outlook - Dec 2022" report has been added to ResearchAndMarkets.com's offering. 0000052955 00000 n Please try again. 0000055894 00000 n Reports & Statistics. 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). 0000016169 00000 n We believe strongly in protecting your privacy. Move into your first office, find a new one with room to grow, or develop a complete location strategy. Cost of construction to rise by a further 8-9% by . 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. 0000038120 00000 n While the recovery for the region remains positive, considerable caution is required. In 2021 the industry is showing signs of recovery with a busy project tender market generated from the Vision 2030 program. Benchmarking Notes 0000084326 00000 n 0000073516 00000 n Equity, diversity and inclusion are core to our vision - a world where infrastructure creates opportunity for everyone. The KSA construction market is anticipated to grow by 2.9% in 2021. The Currie & Brown approach is founded on collaborative working to achieve exceptional results. Dubai welcomed over 1.47 million tourists in January, setting a positive pace of growth for the hospitality industry in 2023. 0000009320 00000 n Breathe life into old space, or create something brand new to help your people thrive. 0 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 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. Thank you for submitting your details. 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. "Saudi Arabia Construction Outlook - Dec 2022", https://www.researchandmarkets.com/r/kxjwkl-arabia?w=12. 4. Cost of key materials like cement and steel have risen over 20% YoY in March 2022. 653 0 obj <>stream | 0000009851 00000 n hbbbd`b``3 A,0 d- 0000013300 00000 n Demand more from your real estate. 0000037709 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 / 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. Lost your password? KSA construction cost benchmarking report Q2 2021 Download PDF (0.21MB), Thank you for your enquiry. 0000058251 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. Overall, the construction industry in KSA seems to be booming and this trend is expected to continue in the coming years as well. The handbook also reviews the impacts and threats experienced over the last 12 months on local, regional and international markets. Some economists are forecasting $125 a barrel of crude oil, which could increase energy/petro/gasoline prices by 50%. Implement tools, processes and strategies that improve the value and performance of your real estate. 0000111654 00000 n 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. 0000056366 00000 n 0000091166 00000 n This valuable risk assessment tool covers the UAE, Qatar and Saudi Arabia.
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