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Saudi Arabia Construction Market Report 2021 - Industry Forecast to Recover in 2021, Growing by 2.9%

Research and Markets
·3-min read

Dublin, April 09, 2021 (GLOBE NEWSWIRE) -- The "Construction in Saudi Arabia - Key Trends and Opportunities to 2025 (Q1 2021)" report has been added to ResearchAndMarkets.com's offering.

Saudi Arabia's construction industry is forecast to recover in 2021, growing by 2.9%, after contracting by an estimated 0.5% in 2020. In 2022, the industry is projected to continue to recover, growing by 3.2%, and then expand by 4.3% over the remainder of the forecast period (2023-2025). Over this period, the industry's output is expected to be supported by the government's focus on the development of overall infrastructure, as well as energy and utilities construction projects, in a bid to diversify its economy away from oil.

With the collapse of oil prices and disruptions due to the COVID-19 outbreak, in December 2020 the government announced a SAR990 billion (US$263.9 billion) budget for 2021. The Kingdom's budget statement showed a cut to government spending of 7% in 2021, implying that the main policy goal for the Kingdom in the short term is to reduce the budget deficit, rather than boost economic growth. However, there is a huge pipeline of projects related to the long-term diversification plans under Vision 2030. This was underlined by the crown prince's announcement in January 2021 that the Public Investment Fund (PIF) is to invest SAR3 trillion (US$800 billion) on projects in the country over the next decade.

This report provides detailed market analysis, information, and insights into Saudi Arabia's construction industry, including -

  • Saudi Arabia's construction industry's growth prospects by market, project type and construction activity

  • Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in Saudi Arabia's construction industry

  • Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

This report provides a comprehensive analysis of the construction industry in Saudi Arabia. It provides -

  • Historical (2016-2020) and forecast (2021-2025) valuations of the construction industry in Saudi Arabia, featuring details of key growth drivers.

  • Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector

  • Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.

  • Listings of major projects, in addition to details of leading contractors and consultants

Key Topics Covered:

1 Executive Summary

2 Construction Industry: At-a-Glance

3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 COVID-19 Status

4 Construction Outlook
4.1 All Construction
4.2 Commercial Construction
4.3 Industrial Construction
4.4 Infrastructure Construction
4.5 Energy and Utilities Construction
4.6 Institutional Construction
4.7 Residential Construction

5 Key Industry Participants
5.1 Contractors
5.2 Consultants

6 Construction Market Data

For more information about this report visit https://www.researchandmarkets.com/r/i41k89

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