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Why Saudi Arabia

Saudi Arabia is the largest economy in the Middle East and Africa and one of the fastest-growing G20 economies in 2022, registering an impressive growth rate of 8.7% and notable progress in implementing its ambitious Saudi Vision 2030.

With the Vision 2030 deadline drawing nearer, Saudi Arabia’s construction and real estate developments, are gaining momentum. The government has set ambitious targets under the VISION2030 to deliver a new urban future for Saudi Arabia through Housing , Smart Cities and infrastructure giga projects to support the projected economic and populations growth. 

The overall Saudi Arabian Construction Market size is US$762.15 billion in 2023. The overall Saudi Arabia market size is projected to grow from US$ 762.15 billion in 2023 to US$ 831.5 billion in 2026 based on a 2.2% CAGR.

With the KSA’s ambitious target to achieve climate neutrality by 2060, commitment to environmental initiatives, including becoming the largest producer of clean hydrogen globally and reducing carbon emissions, the sustainability market has expanded further.

Escalating costs of utilities, healthcare, and education have magnified the importance of energy efficiency, renewable energy, indoor air quality, environmental standards, water conservation, and recycling. These  sectors are thriving in the KSA and present promising avenues for specialized companies to make a meaningful impact. The market prospects are set to sustain over the coming decade, aligning perfectly with the global push towards environmental responsibility.

In the Saudi construction sector major themes are:

  • Green Building and Construction materials
  • Smart Cities and Sustainable Urban Development
  • Energy Efficiency and Retrofitting
  • Healthy buildings & Air Quality solutions
Source: Business Finland, Saudi Arabia