Saudi Arabia has become a prominent country in the global construction market in recent years with its giant projects and rapidly increasing housing need. The large investments realized within the scope of the Vision 2030 strategy are seen to have stimulated both infrastructure projects and the housing sector. However, experts say that this growth has created a demand that local suppliers cannot meet on their own. This opens an important opportunity for foreign companies.
Giant projects such as Neom, Riyadh Metro and King Salman International Airport are currently underway in the country. In addition, new structures are being built for major events such as the 2029 Asian Winter Games, Expo 2030 and the 2034 FIFA World Cup. According to the data, at least 115 thousand new houses need to be built in Saudi Arabia every year. The growing population and urbanization process is leading to the rapid proliferation of commercial and industrial buildings in addition to housing.
These developments have led construction companies from around the world, particularly from China, Türkiye and India, to turn their attention to the Saudi market. For example, Brazilian marble supplier ProMarmo is considering opening a branch in Saudi Arabia, while Dutch facade design firm Aldowa has announced plans to expand in Riyadh after Dubai. Egyptian glass and aluminum producer Delemar said it is considering setting up a production facility in Saudi Arabia to cope with growing demand.
Saudi Arabia overtook the United Arab Emirates in 2019 to become the Gulf's largest construction market. The total value of annual construction contracts rose from USD 55 billion in 2014 to USD 142 billion in 2023. By 2028, this figure is expected to reach USD 182 billion, making the country one of the largest construction markets globally. With this growth momentum, Saudi Arabia is expected to remain one of the most attractive investment destinations for global suppliers.
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