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The latest construction cost benchmarking report for Saudi Arabia is now available for download. The implementation of restrictions in the Kingdom led to targeted government cost-saving measures, including reduced expenditure on giga-project investment. While the world's economic outlook remains turbulent, the Kingdom's economy remains buoyant. 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 $87 billion as tracked by MEED Projects. KSA construction cost benchmarking report Q1 2020 Saudi Arabias construction sector remains strongest market across the MENA region: JLL. 0000116057 00000 n Saudi Arabias construction industry continues to lead the MENA region despite macroeconomic conditions impacting the sector globally. Research and Markets. Proceed to our online shop below to find out more about the features in each package. 0000055375 00000 n xref April 06, 2022 The Economist magazine recently identified inflation as one of the three major threats to the global economy in 2022. 0000123992 00000 n | Source: 0000044152 00000 n Unprecedented world class entertainment projects are happening in Saudi Arabia 2022, professional fees, statutory fees, legal fees, The market is witnessing more procurement and construction works starting for Giga projects, 2022 Chamber of Commerce Amsterdam, the Netherlands. 09051284 VAT: NL For more information about how JLL processes your personal data, please view ourprivacy statement. | 2022 Construction Costs for (14) Middle East Countries: - LinkedIn 0000069628 00000 n 0000027465 00000 n KSA construction cost benchmarking report Q2 2021 Residential. There was an error submitting the form. endstream endobj 652 0 obj <>/Filter/FlateDecode/Index[12 578]/Length 42/Size 590/Type/XRef/W[1 1 1]>>stream 0000056296 00000 n Trade Registry no. We believe strongly in protecting your privacy. 0000058653 00000 n Connect with {name} for more information & questions, Arcadis will use your name and email address only to respond to your question. 0000009851 00000 n 0000113392 00000 n Our International Construction Costs 2023 report reveals how inflation, construction costs, finance costs and energy prices have all continued to rise, resulting in fewer transactions and tumbling asset values. ;E)~}+qPdf?$F|$5oFWlM*;}w198M.q%#o m|0q0{",N)tl$'7~Y11'wi2kO1XW|t#g3$[LbAX#DDDGLUa*]',l/vlM816,jYM(8IKf$!Nr%k=R*[U>=A&jo\ \r1-qx&T1 Ij {vPgP$j-0h(5qjc9`?(4[PPPo}rO.o]D>E`H. We are global in our reach and office network, but also local in our delivery and relationships. ksa construction cost benchmarking 2022 - Accounting Training For While the recovery for the region remains positive, considerable caution is required. 0000069601 00000 n 0000115848 00000 n 0000058251 00000 n 0000022151 00000 n Saudi Arabias construction sector is in a high growth trend, driven by the Kigdoms visionairy leader, and Vision 2030. Saudi Arabia Construction Outlook Report 2022-2023: 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. Construction Costs Benchmarking Kingdom of Saudi Arabia Q2 2022 Market Highlights Saudi Arabia's construction sector is in a high growth trend, driven by the Kingdom's visionary leader, and Vision 2030. Generally the personal information we collect from you are for the purposes of dealing with your enquiry. Physical assets have complex uses and integrated lifecycles. endstream endobj 395 0 obj <>stream The Saudi Arabia Construction Cost and Outlook report also investigates the demand for rebar in Qatar from 2012-17. 1. 0000055644 00000 n Saudi Arabia is forecast to spend between $180 million and $220 million on all categories of construction in 2023. 0000028149 00000 n construction costs only 4. Saudi Arabia's construction industry is forecast to recover in 2021, growing by 2.9%, after contracting by an estimated 0.5% in 2020. Whilst one can use the adjacent table as a guide, accurate cost modelling and benchmarking requires a detailed analysis of historical and current projects . 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. bXdGYv:m4"bv3pV 0000055894 00000 n 0000120880 00000 n 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. 0000007748 00000 n 0000052955 00000 n KSA construction cost benchmarking report Q2 2021 Download PDF (0.21MB), Thank you for your enquiry.