Dublin, April 17, 2025 (GLOBE NEWSWIRE) -- The "Saudi Arabia Commercial Construction Market, By Region, Competition, Forecast and Opportunities, 2020-2030F" has been added to ResearchAndMarkets.com's offering.
The Saudi Arabia Commercial Construction Market, valued at USD 72.1 billion in 2024 and projected to reach USD 98.61 billion by 2030, is expanding robustly with a CAGR of 5.2% over the forecast period. Driven by the ambitious Vision 2030 initiative, which focuses on economic diversification and reducing oil dependency, considerable government investments in infrastructure, tourism, and urban development are propelling growth in commercial real estate, retail, office buildings, and mixed-use developments.
Prominent projects such as NEOM, The Red Sea Project, and Qiddiya are drawing significant domestic and international investments, heightening demand for advanced construction solutions. Market growth is further spurred by regulatory changes and the increase of public-private partnerships (PPPs). The surge in e-commerce, coupled with evolving consumer demands, underscores the necessity for logistics hubs and smart commercial spaces. Emphasizing sustainability, developers are incorporating green building practices and advanced technologies, aligning with global environmental standards.
The influx of expatriates and the establishment of regional business headquarters in Saudi Arabia fuel the demand for premium office spaces, hotels, and retail outlets. Despite challenges such as supply chain disruptions and fluctuating material costs, the market remains resilient, bolstered by strong governmental support and active private sector participation, indicating sustained growth prospects.
Key Market Drivers: Vision 2030 is a primary catalyst, emphasizing infrastructure development projects like NEOM, The Red Sea Project, Qiddiya, and King Salman Park, aiming to establish Saudi Arabia as a premier global business and tourism hub. The relaxation of foreign investment laws and encouragement of PPPs have attracted substantial foreign direct investment, further stimulating market expansion. Moreover, enhanced government spending on transportation networks and smart city initiatives is drawing global business interest.
Tourism and Hospitality Development: A significant USD 10 billion tourism initiative is anticipated to bolster tourism, fostering the construction of resorts, hotels, and leisure facilities to accommodate rising visitor numbers.
Key Market Challenges: Disruptions in supply chains and rising material costs remain pressing challenges, exacerbated by global events impacting the import of construction materials. Investment in local manufacturing and collaboration with regional suppliers are strategies employed to counteract these issues. Persistent inflationary pressures necessitate robust procurement and cost management strategies to mitigate risks.
Key Market Trends: An increased focus on mixed-use developments reflects changing consumer preferences and urbanization trends, aligning with Vision 2030 goals. These projects, such as King Salman Park and Diriyah Gate, integrate residential, retail, and entertainment spaces, enhancing convenience and appealing to both residents and businesses.
Key Market Players: The market features leading companies such as Kabbani Construction Group, Almabani General Contractors, AlKifah Contracting Company, and others, continuing to shape the landscape through innovation and strategic investments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 81 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $72.1 Billion |
| Forecasted Market Value (USD) by 2030 | $98.61 Billion |
| Compound Annual Growth Rate | 5.2% |
| Regions Covered | Saudi Arabia |
Key Topics Covered:
1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
3. Executive Summary
4. Voice of Customer
5. Saudi Arabia Commercial Construction Market Overview
6. Saudi Arabia Commercial Construction Market Outlook
6.1. Market Size & Forecast
6.2. Market Share & Forecast
7. Riyadh Commercial Construction Market Outlook
7.1. Market Size & Forecast
7.2. Market Share & Forecast
8. Makkah Commercial Construction Market Outlook
8.1. Market Size & Forecast
8.2. Market Share & Forecast
9. Madinah Commercial Construction Market Outlook
9.1. Market Size & Forecast
9.2. Market Share & Forecast
10. Jeddah Commercial Construction Market Outlook
10.1. Market Size & Forecast
10.2. Market Share & Forecast
11. Tabuk Commercial Construction Market Outlook
11.1. Market Size & Forecast
11.2. Market Share & Forecast
12. Eastern Province Commercial Construction Market Outlook
12.1. Market Size & Forecast
12.2. Market Share & Forecast
13. Rest of Saudi Arabia Commercial Construction Market Outlook
13.1. Market Size & Forecast
13.2. Market Share & Forecast
14. Market Dynamics
14.1. Drivers
14.2. Challenges
15. Market Trends and Developments
16. Company Profiles
16.1. Kabbani Construction Group
16.2. Almabani General Contractors
16.3. AlKifah Contracting Company
16.4. Nesma & Partners Contracting Company Ltd.
16.5. AL-AYUNI Company
16.6. Construction & Planning Co. Ltd.
16.7. Contracting & Construction Enterprises Ltd.
16.8. Binladen Group Global Holding Company
16.9. Al-Rashid Trading & Contracting Co.
16.10. Umm Al Qura for Development & Construction Company
17. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/sz1fj2
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