Market Reports On Saudi Arabia Provides the Trending Market Research Report on “Construction in Saudi Arabia - Key Trends and Opportunities to 2023” under Construction category. The Saudi Arabia Paints and Varnishes Industry Market is projected to exhibit highest growth rate over report offers a collection of superior market research, market analysis, competitive intelligence and industry reports.

Following three years of contraction, the Saudi Arabian Construction Industry is expected to recover in 2019, with the industry’s output expected to register a growth of 1.9% in real terms that year. This momentum is expected to continue throughout the forecast period (2019-2023), driven by a recovery in crude oil prices coupled with the government’s investment towards new oil and gas projects and sewage infrastructure. Furthermore, the government’s plan to develop transport infrastructure and affordable houses in the country is expected to support industry output over the forecast period.

Request a free sample copy of Construction Market Report @ http://www.marketreportsonsaudiarabia.com/marketreports/Sample/Reports/1447497

In line with recovery in oil prices, the government is increasing its total budget spending, which in turn will support investment towards transport infrastructure, healthcare and educational buildings and residential buildings. In the 2019 budget, the government increased its total budget spending by 7.0%, going from SAR1.0 trillion (US$266.7 billion) in 2018 to SAR1.1 trillion (US$293.3 billion) in 2019. The government allocated SAR70.0 billion (US$18.7 billion) in its 2019 budget towards infrastructure and transportation - an increase of 28.0% compared to the 2018 budget allocation.

In January 2019, the government announced plans to attract SAR1.6 trillion (US$429.0 billion) of private investment under the National Industrial Development and Logistics Program (NIDLP) over the next 10 years. Under this, the government aims to develop the industrial and transport infrastructure of the country to diversify the country’s economy and reduce its reliance on the oil sector.

The industry’s output value in real terms recorded a compound annual growth rate (CAGR) of -1.39% during the review period (2014-2018), and is expected to post a forecast-period CAGR of 3.04%.

Construction in Saudi Arabia - Key Trends and Opportunities to 2023", report provides detailed market analysis, information and insights into the Saudi Arabian construction industry, including -

The Saudi Arabian construction industry's growth prospects by market, project type and construction activity
Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the Saudi Arabian construction industry
Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
Key Highlights

The residential construction market to register a forecast-period CAGR of 4.62% in nominal terms, driven by the government plans to meet the rising demand of affordable houses in the country. In 2018, the government launched a loan-guarantee program with a total investment of SAR30.5 billion (US$8.2 billion). Of the total investment, the government plans to allocate SAR18 billion (US$4.8 billion) to provide housing loans to the low-and middle-income citizens in the country, and SAR12.5 billion (US$3.4 billion) to provide down payment support to economically weak home buyers by 2030.
Forecast-period growth in the institutional construction market will be driven by the government’s focus on education and healthcare infrastructure. In the 2019 budget, the government increased its spending on the healthcare sector by 8.2%, going from SAR159.0 billion (US$42.4 billion) in 2018 to SAR172.0 billion (US$45.9 billion) in 2019. Furthermore, under the Vision 2030, the government plans to spend SAR23.0 billion (US$6.1 billion) to build new hospitals and other healthcare buildings in the country during 2017-2021.
The energy and utilities construction market to register a forecast-period CAGR of 6.47% in nominal terms, driven by the government aims to generate 10% of the total energy need from renewable sources by 2023. In March 2018, the government signed an agreement with Japan’s SoftBank Group Corp worth SAR750 billion (US$200 billion) to develop solar and wind energy infrastructure. Furthermore, under the National Renewable Energy Program, the government plans to invest SAR187.5 billion (US$50 billion) in order to develop 30 wind and solar energy projects by 2023.
Industrial construction market’s forecast-period growth will be driven by the government’s plan to diversify its economy from oil and increase the performance of non-oil sectors. The government is focusing on the manufacturing sector in order to achieve sustainable economic growth and reduce dependency on the oil and gas sector. In December 2018, the government announced its plan to spend SAR200 billion (US$53 billion) under the Fiscal Balance Program to increase foreign direct investment in the manufacturing sector, as well as increase the number of Small and Medium Enterprises (SMEs) in the country by 2020.
The total construction project pipeline in Saudi Arabia, including all mega projects with a value above US$25 million - stands at SAR3.7 trillion (US$977.4 billion). The pipeline, which includes all projects from pre-planning to execution, is skewed towards late-stage projects, with 71.4% of the pipeline value being in projects in the pre-execution and execution stages as of April 2019.
Scope

This report provides a comprehensive analysis of the construction industry in Saudi Arabia.
Historical (2014-2018) and forecast (2019-2023) valuations of the construction industry in Saudi Arabia, featuring details of key growth drivers.
Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector.
Reasons to buy

Identify and evaluate market opportunities forecasting methodologies.
Assess market growth potential at a micro-level with over 600 time-series data forecasts.
Understand the latest industry and market trends.
Formulate and validate strategy and actionable insight.
Assess business risks, including cost, regulatory and competitive pressures.
Evaluate competitive risk and success factors.

Browse our full report with Table of Contents : http://www.marketreportsonsaudiarabia.com/marketreports/construction-in-saudi-arabia-key-trends-and-opportunities-to-2023/1447497

About Us

Market Reports on Saudi Arabia provide you with an in-depth industry reports focusing on various economic, political and operational risk environment, complemented by detailed sector analysis. We have an exhaustive coverage on variety of industries – ranging from energy and chemicals to transportation, communications, constructions and mining to Insurance and education. Our collection includes over 2000 up-to-date reports all researched, analyzed and published by top-notch international research firms.

Contact us at:
Market Reports On Saudi Arabia
Tel: +91 22 27810772 / 27810773
Email:  [email protected]
Website: http://www.marketreportsonsaudiarabia.com
Follow us on : Twitter, Facebook, LinkedIn, Google Plus