Riyadh Construction Market Size (2024 - 2029)

Riyadh Construction Market Analysis

The Riyadh Construction Market size is estimated at USD 14.70 billion in 2024, and is expected to reach USD 19.90 billion by 2029, growing at a CAGR of 5.16% during the forecast period (2024-2029).

The Riyadh construction market indicates a dynamic and growing sector. The city's ambitious development projects, including infrastructure enhancements, commercial and residential developments, and investment in smart city initiatives, contribute to a thriving construction market. With a focus on sustainable urban development and modernization, Riyadh presents lucrative opportunities for construction companies, investors, and stakeholders aiming to participate in the city's transformation.

As Saudi Arabia gears up for the Riyadh Expo 2030, the nation is actively advancing its Vision 2030 objectives, with a significant emphasis on its Giga Project Program. This initiative encompasses a series of large-scale developments spanning tourism, residential, commercial, retail, and industrial sectors to invigorate the economy and facilitate the Kingdom's economic transformation. These giga projects, integral to Saudi Arabia's Vision 2030 agenda, are strategically designed to unlock new economic opportunities, generate employment, and foster economic, social, and cultural diversity. Referred to as the "crown jewels" of Vision 2030 by the government, they represent a pivotal aspect of Saudi Arabia’s future trajectory.

Riyadh Construction Industry Segmentation

The construction market is defined as companies engaged in building or engineering projects, such as bridges and roads. Construction also takes place when renovating existing buildings. The report provides a complete background analysis of the Riyadh construction market, comprising an evaluation of the sector and its contribution, market overview and size estimation for critical segments, the impact of COVID-19, prominent countries, emerging trends in the market segments, market dynamics, and key statistics on goods flow. The construction market in Riyadh is segmented by sector (commercial construction, residential construction, industrial construction, infrastructure [transportation] construction, and energy and utility construction). The report offers market size and forecasts in value (USD) for all the above segments.