Jeddah Construction Market Size (2024 - 2029)

Jeddah Construction Market Analysis

The Jeddah Construction Market size is estimated at USD 2.49 billion in 2024, and is expected to reach USD 3.5 billion by 2029, growing at a CAGR of 5.83% during the forecast period (2024-2029).

• Jeddah is one of the major cities in Saudi Arabia and has experienced significant growth and development in recent years. The construction sector in Jeddah plays a crucial role in shaping the city's infrastructure and supporting its economic development.

• Jeddah is the largest city in Makkah Province, the largest city in Hejaz, the second largest city in Saudi Arabia, and the ninth largest city in the Middle East, with a population of about 3,751,722 as of 2022. On the Red Sea, Jeddah Islamic Port is the thirty-sixth largest seaport in the world and the second-largest and second-busiest seaport in the Middle East (after Dubai's Port of Jebel Ali).

• The strategic location of Jeddah as a port city makes it a hub for industrial activity. Investing in industrial real estate, such as factories or warehouses, can be profitable.

• First-class four-star properties account for 77 projects and 30,229 rooms - 46% of the total, with the remaining 54% in the five-star luxury segment, equating to 90 builds comprising 33,524 keys.

• The construction sector accounted for the most significant number of new contracts, with a total value of USD 34.3 billion in 2022. In particular, an increase in the number of contracts awarded in Saudi Arabia's construction sector has contributed to the growth of the construction sector.

• Several megaprojects are taking shape in Makkah, representing a significant part of the development boom. Jeddah has 33 projects with 7,148 rooms, and Al Wajh, which has 12 projects with 4,868 keys, is fourth on the list.

Jeddah Construction Industry Segmentation

The construction market includes upcoming, ongoing, and growing construction projects in different sectors. These include but are not limited to geotechnical (underground structures) and superstructures in residential, commercial, and industrial structures, as well as infrastructure construction (like roads, railways, and airports) and power generation and transmission-related infrastructure.

A complete background analysis of the Jeddah Construction Market, including the assessment of the economy and contribution of sectors in the economy, market overview, market size estimation for key segments, and emerging trends in the market segments, market dynamics, and geographical trends, and COVID-19 impact, is covered in the report.

The Jeddah Construction Market is segmented by sector (residential, commercial, industrial, infrastructure (transportation), and energy and utility construction). The report provides market size and forecasts for the Jeddah Construction Market regarding value (USD) for all the above-mentioned segments.