Saudi Arabia’s construction contracts reach $142bn
Photo for illustrative purposes only. Sourced from OT Sky.
Saudi Arabia's construction sector is experiencing significant growth, with projected output reaching $181.5 billion by 2028, marking a 28 percent increase from current levels. This expansion is fueled by robust activities in residential, institutional, infrastructure, industrial, energy, utilities, and commercial projects, positioning the Kingdom as a global hub for tourism, commerce, and trade. Key initiatives include mega-projects like NEOM, alongside plans to deliver substantial residential units, hotels, retail, and office spaces by the decade's end. Supported by Vision 2030 and the National Transformation Plan, Saudi Arabia aims to attract over $3 trillion in investments by 2030, with residential construction playing a pivotal role in this growth.