Saudi Arabia Construction Market - Opportunities, Size & Growth [2028]
Saudi Arabia Construction Market is anticipated to grow at a steady pace in the forecast period, 2024-2028. As of October 2022, Saudi Arabia Construction Market is expected to grow since investment through public and private partnerships is on the rise with assets of around USD31 billion. Additionally, keeping up with Vision 2030, the development of Mecca, Medina, and projects in the pilgrim city are gaining traction with major spending on the expansion of the Great Mosque of Mecca. Furthermore, net spending has also increased in the field of education as the construction of Knowledge Economic City has attracted an investment of close to USD 8 billion. Participation of Foreign Investors Propelling the Market Growth With several incentives and exemptions from taxes, the government of Saudi Arabia has permitted 100% ownership of companies, plants, equipment, projects, and real estate. For instance, the top 10 contractors in the kingdom are in control of 400 billion...