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www.ventures-me.com www.indexexhibition.com
Building Construction and Interiors Market September 2013
Building Construction and Interiors Market - Saudi ArabiaBuilding Construction and
Saudi Arabia
Building CONSTRUCTION and Interiors MarketSeptember 2013
Table of Contents Building Construction and Interiors Market Saudi Arabia
Building Construction Sector in the Kingdom of Saudi Arabia (K
The KSA Economy and the Government Budget Spend
KSA Building Construction and Real Estate Overview
KSA Buildings Segment Overview ................................
KSA Interiors and Fit-outs Market ................................
Future Outlook for the KSA Interiors and Fit
Recent News Updates from the Saudi Building Construction Industry
List of Figures Figure 1: KSA Buildings-Main Contractor Awards (US$ Million), 2011
Figure 2: KSA Building Projects Split by Stage of Construction, September 2013
Figure 3: KSA Building Contractor Awards across Key Segments (US$ Million), 2013
Figure 4: KSA Interiors and Fit-outs Spend (US$ Million), 2013
List of Tables Table 1: KSA Main Macroeconomic Indicators, 2013
Table 2: Top KSA Building Projects Awarded to Contractors in 2013 (US$ Million)
Table 3: Top Building projects Completed in 2013 by
Table 4: Top Building projects Due for Completion in 2014 by Value (US$ Million)
Building CONSTRUCTION and Interiors Market-Saudi Arabia
www.indexexhibition.com www.ventures-me.com
ng Construction and Interiors Market Saudi Arabia September 2013 ................................
Building Construction Sector in the Kingdom of Saudi Arabia (KSA) ................................
The KSA Economy and the Government Budget Spend ................................................................
KSA Building Construction and Real Estate Overview ................................................................
................................................................................................
................................................................................................
Future Outlook for the KSA Interiors and Fit-outs Market ................................................................
Recent News Updates from the Saudi Building Construction Industry ................................
Main Contractor Awards (US$ Million), 2011-2014 ................................
Figure 2: KSA Building Projects Split by Stage of Construction, September 2013 ................................
Figure 3: KSA Building Contractor Awards across Key Segments (US$ Million), 2013
outs Spend (US$ Million), 2013-2014 ................................
Table 1: KSA Main Macroeconomic Indicators, 2013 ................................................................
e 2: Top KSA Building Projects Awarded to Contractors in 2013 (US$ Million) .............................
Table 3: Top Building projects Completed in 2013 by Value (US$ Million) ................................
Table 4: Top Building projects Due for Completion in 2014 by Value (US$ Million) ............................
Saudi Arabia
P a g e : 2
........................................ 1
...................................................... 3
......................................... 3
............................................ 6
........................................... 8
......................................... 14
................................... 24
................................................ 25
......................................... 7
.................................. 8
Figure 3: KSA Building Contractor Awards across Key Segments (US$ Million), 2013-2014 .................. 9
.................................................. 15
............................................. 4
............................. 11
.......................................... 16
............................ 20
Building CONSTRUCTION and Interiors MarketSeptember 2013
Building Construction Sector in the Kingdom of Saudi Arabia(KSA)
The KSA Economy and
The Kingdom of Saudi Arabia (KSA) is one of the largest in the Gulf
area and size, one of the largest suppliers of hydrocarbons in the world
the fastest growing construction markets in the
had embarked on an ambitious expansion and diversification programme since 2009 to invest its oil
surpluses back into the economic growth and diversification of the Kingdom in order to reduce its
reliance on its fast depleting non-
economy from the worst of the global economic slowdown.
run expansionary budgets since 2011 with massive investments across sectors
infrastructure such as, airports, roads and a rail network alongside
education, healthcare and affordable housing. The rich hydrocarbon revenues and strong oil prices
have till date ensured that the economy continues to enjoy a vast surplus in spite of its expansionary
budgets though recently the surplus has been
government owned, non-oil and construction sectors that ha
respectively, in 2012.
However, with the fall in output in 2013, growth in Saudi
sector growth, fell sharply in the second quarter of 2013 by 1.1 percent on a quarter to quarter
comparison in April to June as against a 2.1 percent growth in January to March 2013.
construction have also begun to climb gradually
2012 with iron, one of the main construction materials
allowed to pass through Syria and thereby
Building CONSTRUCTION and Interiors Market-Saudi Arabia
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Building Construction Sector in the Kingdom of Saudi Arabia
Economy and the Government Budget Spend
The Kingdom of Saudi Arabia (KSA) is one of the largest in the Gulf Cooperation Council (GCC) by
one of the largest suppliers of hydrocarbons in the world, and currently
the fastest growing construction markets in the region. Backed by vast oil surpluses, the Kingdom
expansion and diversification programme since 2009 to invest its oil
surpluses back into the economic growth and diversification of the Kingdom in order to reduce its
-renewable hydrocarbon resources, while also shielding
economy from the worst of the global economic slowdown. The Saudi government has continued to
run expansionary budgets since 2011 with massive investments across sectors
infrastructure such as, airports, roads and a rail network alongside social infrastructure such as
education, healthcare and affordable housing. The rich hydrocarbon revenues and strong oil prices
have till date ensured that the economy continues to enjoy a vast surplus in spite of its expansionary
he surplus has been contributed not only by its oil sector
oil and construction sectors that had grown at 7.5 percent
However, with the fall in output in 2013, growth in Saudi Arabia which is closely linked to energy
fell sharply in the second quarter of 2013 by 1.1 percent on a quarter to quarter
comparison in April to June as against a 2.1 percent growth in January to March 2013.
begun to climb gradually increasing by as much as 20 percent compared to
one of the main construction materials and usually imported from Turkey
allowed to pass through Syria and thereby hampering plans such as affordable housing
Saudi Arabia
P a g e : 3
Building Construction Sector in the Kingdom of Saudi Arabia
Spend
ration Council (GCC) by
and currently also one of
Backed by vast oil surpluses, the Kingdom
expansion and diversification programme since 2009 to invest its oil
surpluses back into the economic growth and diversification of the Kingdom in order to reduce its
renewable hydrocarbon resources, while also shielding the
The Saudi government has continued to
run expansionary budgets since 2011 with massive investments across sectors, including
social infrastructure such as
education, healthcare and affordable housing. The rich hydrocarbon revenues and strong oil prices
have till date ensured that the economy continues to enjoy a vast surplus in spite of its expansionary
its oil sector, but also its non-
grown at 7.5 percent and 10 percent,
Arabia which is closely linked to energy
fell sharply in the second quarter of 2013 by 1.1 percent on a quarter to quarter
comparison in April to June as against a 2.1 percent growth in January to March 2013. Costs of
increasing by as much as 20 percent compared to
usually imported from Turkey, not being
hampering plans such as affordable housing and private
Building CONSTRUCTION and Interiors MarketSeptember 2013
sector construction. However, building construction continues to grow unabated
obstacles, in one of the strongest markets in the region
investment.
The following table lists the main macroeconomic
Table 1: KSA Main Macroeconomic Indicators, 201
Macroeconomic Indicators
Surface Area (Square Kilometres)
GDP (US$ Billion)
GDP Growth (%)
Population (as of July 2013)
GDP per capita (US$)
Inflation (%)
Exchange Rate (per US$)
Labour Force (Million)
Budget Surplus/Deficit (% of GDP)
GDP Shares By Sector
Construction GDP (% to total) *
Source: CIA- The World Fact Book https://www.cia.gov/
Though oil production is lower than earlier years, Saudi Arabia continues to register a large surplus
in 2013 and continued its earlier trend of ploughing the surplus back into its large developmental
spending programme in its 2013 budget, much larger than
focus of government spending remains on
such as affordable housing, healthcare and sanitation services and education
the Saudi spending program consistent with its Ninth five year plan
domestic Saudi population and creating more jobs for the Saudis, with the dual benefit of shielding
the economy from the global economic
Building CONSTRUCTION and Interiors Market-Saudi Arabia
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, building construction continues to grow unabated
in one of the strongest markets in the region fuelled by sustained demand and
croeconomic indicators for Saudi Arabia for 201
: KSA Main Macroeconomic Indicators, 2013
Macroeconomic Indicators
https://www.cia.gov/ (Figures as on July 2013)
Though oil production is lower than earlier years, Saudi Arabia continues to register a large surplus
in 2013 and continued its earlier trend of ploughing the surplus back into its large developmental
spending programme in its 2013 budget, much larger than the 2011 and 2012 budgets
remains on allocations for the development of social infrastructure
such as affordable housing, healthcare and sanitation services and education. The primary aim of
gram consistent with its Ninth five year plan is that of
domestic Saudi population and creating more jobs for the Saudis, with the dual benefit of shielding
the economy from the global economic uncertainties and preventing a spread of socio
Saudi Arabia
P a g e : 4
, building construction continues to grow unabated despite these
fuelled by sustained demand and
r Saudi Arabia for 2013.
2013
21,49,690
727.3
6.8
2,69,39,583
31,800
4
3.75 Saudi Riyals
8.012
12.6%
Agriculture: 1%
Industry: 66%
Services: 33%
4.5%
Though oil production is lower than earlier years, Saudi Arabia continues to register a large surplus
in 2013 and continued its earlier trend of ploughing the surplus back into its large developmental
2011 and 2012 budgets. The primary
allocations for the development of social infrastructure
. The primary aim of
is that of empowering the
domestic Saudi population and creating more jobs for the Saudis, with the dual benefit of shielding
and preventing a spread of socio-political
Building CONSTRUCTION and Interiors MarketSeptember 2013
unrest such as the Arab Spring while diversifying its economy and reducing dependence on
hydrocarbons in the long run.
The earlier budgets had allocated SAR 350 billion toward the construction and funding of affordable
housing schemes across the Kingdom with the aim of providing at least 5.5 million homes to resolve
the problem of acute shortage of affordable housing in the Kingdom by 2014
spending was placed at SAR 400 billion
healthcare have been received increasing attention in successive budgets
declared the largest educational investor in the region in recent studies.
The 2013 budget, the largest in the history of Saudi Arabia
820 billion), allocation of SAR 40 billion
transportation and other infrastructure projects.
infrastructure and services was also
percent and 12.2 percent shares in the budget, at SAR 20
(US$ 27 billion), respectively.
The building construction market is benefitting immensely from the developments in the budget
though supply changes continue to be slightly sluggish amid rising development costs
an increase in construction material costs that could hamper t
However, the budget has done its part of offering concessions to the housing segment such as loans
to locals to address shortages in this segment, with the exception of the mortgage law which
once it becomes fully functional, could relieve the pressure in the mid to low income segments.
New projects in 2013 from the government budget
apart from the 1200 already under construction and renovation of another 2000 s
technical colleges and institutions are also planned to be constructed, with the Princess Noor
University with a designed capacity for 26000 students
faculties, a 700-bed student hospital, laboratori
accommodation, already planned for construction this year. In the healthcare space, construction of
Building CONSTRUCTION and Interiors Market-Saudi Arabia
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while diversifying its economy and reducing dependence on
SAR 350 billion toward the construction and funding of affordable
Kingdom with the aim of providing at least 5.5 million homes to resolve
the problem of acute shortage of affordable housing in the Kingdom by 2014
SAR 400 billion to be spread over the next few years, while education
increasing attention in successive budgets with Saudi Arabia being
declared the largest educational investor in the region in recent studies.
budget, the largest in the history of Saudi Arabia with a spending of US$ 218 billion
allocation of SAR 40 billion (US$ 10 billion) has been further
transportation and other infrastructure projects. Allocation for education and healthcare
also hiked by nearly 21 percent and 16 percent, with nearly 25
percent and 12.2 percent shares in the budget, at SAR 204 billion (US$ 55 billion)
The building construction market is benefitting immensely from the developments in the budget
though supply changes continue to be slightly sluggish amid rising development costs
increase in construction material costs that could hamper the strong upward trend if it continues.
However, the budget has done its part of offering concessions to the housing segment such as loans
to locals to address shortages in this segment, with the exception of the mortgage law which
could relieve the pressure in the mid to low income segments.
from the government budget include plans for the construction of
apart from the 1200 already under construction and renovation of another 2000 s
technical colleges and institutions are also planned to be constructed, with the Princess Noor
with a designed capacity for 26000 students, including administration buildings, 13
bed student hospital, laboratories, research centres and staff and student
already planned for construction this year. In the healthcare space, construction of
Saudi Arabia
P a g e : 5
while diversifying its economy and reducing dependence on
SAR 350 billion toward the construction and funding of affordable
Kingdom with the aim of providing at least 5.5 million homes to resolve
the problem of acute shortage of affordable housing in the Kingdom by 2014. Infrastructure
, while education and
with Saudi Arabia being
US$ 218 billion (SAR
has been further enhanced toward
llocation for education and healthcare
ly 21 percent and 16 percent, with nearly 25
and SAR 100 billion
The building construction market is benefitting immensely from the developments in the budget
though supply changes continue to be slightly sluggish amid rising development costs resulting from
he strong upward trend if it continues.
However, the budget has done its part of offering concessions to the housing segment such as loans
to locals to address shortages in this segment, with the exception of the mortgage law which, only
could relieve the pressure in the mid to low income segments.
for the construction of 539 schools
apart from the 1200 already under construction and renovation of another 2000 schools. Several
technical colleges and institutions are also planned to be constructed, with the Princess Noora
administration buildings, 13
staff and student residential
already planned for construction this year. In the healthcare space, construction of
Building CONSTRUCTION and Interiors MarketSeptember 2013
new primary health centres, construction of 19 new hospitals apart from the 102 already under
construction and a number of social and welfare centres constitute fresh projects on the pipeline.
Alongside the development of the Mecca and Medina regions and Jeddah
tourism and benefit from the Haj pilgrimage considered important to the
worldwide, including plans for a 1.6 million square meters
accommodate 200,000 pilgrims, a number of hospitality projects have also been undertaken by
global hotel brands such as Hilton and Holid
based Time Hotels Group, at various locations across the Kingdom
investments in the metro and rail network across the Kingdom, upgrades to roads and airports have
also been initiated in a big way to attract tourists and investors alike.
These developments present myriad opportunities for investors in the GCC building construction
sector and more specifically for the interiors and fit outs market for new and refurbishment projects
in 2013.
KSA Building Construction and Real Estate Overview
Though not the largest player in the GCC building construction market, KSA is one of the fastest
growing real estate markets in the region with the boost provided by the large scale government
spending on mega projects such as the six
for 4.5 million people, the spurt provided to religious tourism with the development of the Mecca,
Medina and Jeddah regions with mega hospitality projects and
that has put KSA on the global map as the largest residential sector in the region.
The Kingdom of Saudi Arabia boasts building p
stages from planning to design to construction including projects on hold.
presents the contractor awards for the Building construction sector between 2012 and 2014.
Building CONSTRUCTION and Interiors Market-Saudi Arabia
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new primary health centres, construction of 19 new hospitals apart from the 102 already under
ction and a number of social and welfare centres constitute fresh projects on the pipeline.
the development of the Mecca and Medina regions and Jeddah to encoura
tourism and benefit from the Haj pilgrimage considered important to the
including plans for a 1.6 million square meters Pilgrim City at Medina with a capacity to
a number of hospitality projects have also been undertaken by
global hotel brands such as Hilton and Holiday Inn and budget regional names such as the UAE
at various locations across the Kingdom in 2013. Moreover, large
investments in the metro and rail network across the Kingdom, upgrades to roads and airports have
in a big way to attract tourists and investors alike.
present myriad opportunities for investors in the GCC building construction
sector and more specifically for the interiors and fit outs market for new and refurbishment projects
Building Construction and Real Estate Overview
Though not the largest player in the GCC building construction market, KSA is one of the fastest
growing real estate markets in the region with the boost provided by the large scale government
spending on mega projects such as the six new “smart” economic cities planned
, the spurt provided to religious tourism with the development of the Mecca,
Medina and Jeddah regions with mega hospitality projects and the large scale social housing scheme
he global map as the largest residential sector in the region.
The Kingdom of Saudi Arabia boasts building projects valued at nearly US$634
stages from planning to design to construction including projects on hold. The following figur
presents the contractor awards for the Building construction sector between 2012 and 2014.
Saudi Arabia
P a g e : 6
new primary health centres, construction of 19 new hospitals apart from the 102 already under
ction and a number of social and welfare centres constitute fresh projects on the pipeline.
encourage religious
Islamic community
at Medina with a capacity to
a number of hospitality projects have also been undertaken by
and budget regional names such as the UAE
in 2013. Moreover, large
investments in the metro and rail network across the Kingdom, upgrades to roads and airports have
present myriad opportunities for investors in the GCC building construction
sector and more specifically for the interiors and fit outs market for new and refurbishment projects
Building Construction and Real Estate Overview
Though not the largest player in the GCC building construction market, KSA is one of the fastest
growing real estate markets in the region with the boost provided by the large scale government
to support facilities
, the spurt provided to religious tourism with the development of the Mecca,
rge scale social housing scheme
he global map as the largest residential sector in the region.
34 billion at various
The following figure
presents the contractor awards for the Building construction sector between 2012 and 2014.
Building CONSTRUCTION and Interiors MarketSeptember 2013
Figure 1: KSA Buildings-Main Contractor Awards (US$ Million), 201
Source: Ventures Onsite MENA Projects Database
As successive budgets make heavy allocations toward the development of social infrastructure such
as housing, healthcare facilities and housing, these are likely to prove the major drivers to the
growth of the buildings sector between 201
contracts awarded during the period in the above figure.
required fillip to the already charged construction sector after the initial boost by the hydrocarbon
backed surpluses wear out. As nearly 5
these are likely to translate into huge
end of the year or into 2014.
The following figure presents the share
status.
32,701
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
2011
Cont
ract
or A
war
ds (U
S$ M
illio
n)
KSA Building Construction Contractor Awards (US$ Million), 2011
Building CONSTRUCTION and Interiors Market-Saudi Arabia
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Main Contractor Awards (US$ Million), 2011-2014
Projects Database www.venturesonsite.com
As successive budgets make heavy allocations toward the development of social infrastructure such
as housing, healthcare facilities and housing, these are likely to prove the major drivers to the
the buildings sector between 2011 and 2014 as can be seen in the healthy increase in
contracts awarded during the period in the above figure. Tourism is also likely to provide the
required fillip to the already charged construction sector after the initial boost by the hydrocarbon
As nearly 57 percent of the projects are at the planning or design stages,
huge opportunities for the interiors contracting and fit outs
The following figure presents the share of building projects in KSA in September 2013 by project
22,917
28,772
2012 2013
KSA Building Construction Contractor Awards (US$ Million), 2011
Saudi Arabia
P a g e : 7
As successive budgets make heavy allocations toward the development of social infrastructure such
as housing, healthcare facilities and housing, these are likely to prove the major drivers to the
and 2014 as can be seen in the healthy increase in
Tourism is also likely to provide the
required fillip to the already charged construction sector after the initial boost by the hydrocarbon
percent of the projects are at the planning or design stages,
opportunities for the interiors contracting and fit outs by the
September 2013 by project
32,381
2014
KSA Building Construction Contractor Awards (US$ Million), 2011-2014
Building CONSTRUCTION and Interiors MarketSeptember 2013
Figure 2: KSA Building Projects Split by Stage of Construction,
Source: Ventures Onsite MENA Projects Database
Projects across the building construction sector are progressing
and Saudi Arabia has gained the distinction of having the best record for completion of projects in
the region as well, with only 15 percent of projects on hold as of
KSA Buildings Segment
The residential, educational, commercial, healthcare, hospitality and retail segments of the KSA
buildings market offer varied prospects for investors as the large scale government matched by
growing private investment have made Saudi Arabia a growing dest
investors since 2011 unaffected by the poor global economic conditions and regional turmoil.
The following figure represents the contractor awards
market in 2013 and 2014.
Tender for Construction3%
Under Construction25%
On Hold15%
KSA Buildings-Project Value by Status, as of September 2013
Building CONSTRUCTION and Interiors Market-Saudi Arabia
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: KSA Building Projects Split by Stage of Construction, September 2013
Projects Database www.venturesonsite.com
Projects across the building construction sector are progressing at rates faster than the entire region
and Saudi Arabia has gained the distinction of having the best record for completion of projects in
percent of projects on hold as of September 2013.
KSA Buildings Segment Overview
The residential, educational, commercial, healthcare, hospitality and retail segments of the KSA
buildings market offer varied prospects for investors as the large scale government matched by
growing private investment have made Saudi Arabia a growing destinations for global and regional
investors since 2011 unaffected by the poor global economic conditions and regional turmoil.
figure represents the contractor awards across the key segments of the KSA buildings
Planned24%
Under Design33%
Project Value by Status, as of September 2013
Saudi Arabia
P a g e : 8
at rates faster than the entire region
and Saudi Arabia has gained the distinction of having the best record for completion of projects in
2013.
The residential, educational, commercial, healthcare, hospitality and retail segments of the KSA
buildings market offer varied prospects for investors as the large scale government matched by
inations for global and regional
investors since 2011 unaffected by the poor global economic conditions and regional turmoil.
across the key segments of the KSA buildings
Building CONSTRUCTION and Interiors MarketSeptember 2013
Figure 3: KSA Building Contractor Awards across Key Segments (US$ Million), 201
Source: Ventures Onsite MENA Projects Database
Studies have shown that the Kingdom needs nearly 5.5 million homes by 2015 and the investment
being poured into the residential segment both by the government at SAR 350 billion and private
investors, is likely to feed this growing demand while posing vast opportunities.
residential projects have been announced in line with this objective such as the Jeddah
Development and Urban Regeneration Company (JDURC)
67,000 housing units within two new residential districts in Jeddah. Projects suc
Tower and Kingdom City are progressing on targeted plans while the city’s tallest residential tower
Burj Rafal is slated for completion this month of September 2013 with promises by prestigious
developers such as Cayan of Infinity Towers,
year end.
-
2,000
4,000
6,000
8,000
10,000
12,000
14,000
Others Commercial Buildings
Cont
ract
or A
war
ds (U
S$ M
illio
n)
KSA Building Contractor Awards across Key Segments (US$ Million), 2013
Building CONSTRUCTION and Interiors Market-Saudi Arabia
www.indexexhibition.com www.ventures-me.com
: KSA Building Contractor Awards across Key Segments (US$ Million), 2013-2014
Projects Database www.venturesonsite.com
m needs nearly 5.5 million homes by 2015 and the investment
being poured into the residential segment both by the government at SAR 350 billion and private
investors, is likely to feed this growing demand while posing vast opportunities.
esidential projects have been announced in line with this objective such as the Jeddah
Development and Urban Regeneration Company (JDURC) mega project for the construction of
67,000 housing units within two new residential districts in Jeddah. Projects suc
Tower and Kingdom City are progressing on targeted plans while the city’s tallest residential tower
Burj Rafal is slated for completion this month of September 2013 with promises by prestigious
developers such as Cayan of Infinity Towers, Dubai fame to launch new projects in Saudi Arabia by
Hotel Residential Shopping Centre Hospitals
KSA Building Contractor Awards across Key Segments (US$ Million), 2013-2014
2013 2014
Saudi Arabia
P a g e : 9
m needs nearly 5.5 million homes by 2015 and the investment
being poured into the residential segment both by the government at SAR 350 billion and private
investors, is likely to feed this growing demand while posing vast opportunities. A number of new
esidential projects have been announced in line with this objective such as the Jeddah
mega project for the construction of
67,000 housing units within two new residential districts in Jeddah. Projects such as the Kingdom
Tower and Kingdom City are progressing on targeted plans while the city’s tallest residential tower
Burj Rafal is slated for completion this month of September 2013 with promises by prestigious
Dubai fame to launch new projects in Saudi Arabia by
Hospitals Educational Facilities
2014
Building CONSTRUCTION and Interiors MarketSeptember 2013
Commercial and hospitality sectors have also received the indirect effects of the investment led
growth though as greater supply comes on board,
Available Room (RevPar) has steadily increased in the second quarter of 2013 over the
corresponding period of 2012. A number of hotel brands such as Starwood hotels, the Rocco Forte
hotel among others have announced plans for construction by the end of the year
areas of Jeddah, Mecca and Medina.
nearly US$ 120 billion would be spent toward the construction of new hotels. Rotana also has
similar plans in the budget segment wherein c
has announced its plans to open nearly 50 hotels in the budget segment over the next ten years. All
put together there are nearly 1200 hotel rooms awaited to come on board by 2015 of which 2700
will be in Riyadh alone.
In the commercial sector too, supply of Grade A office spaces across the key markets such as Riyadh
and Jeddah have nearly doubled in 2013
Abdullah Financial District (KAFD) including the Olaya towers or eight office buildings
into the market in this year, an additional Gross Leasable Area (GLA) of 120,000 square metres
having already entered the Riyadh market over 2012,
Riyadh at least as older and lower grade office space segments get adversely affected by the
increased supply. In the case of Jeddah, demand continues to remain strong, especially around the
Central Business District. In fact, Jeddah has an additional
in the pipeline that is likely to come online
opportunities for the interiors and fit outs sector
The retail sector that is an attractive destination to medium to high end international brands owing
to the largely affluent and urbanizing and fast growing population, has resulted in shopping malls
operating at 100 percent occupancies and Saudi Arabia ranking fourteenth amon
global retail destinations for 2012. With an additional supply of GLA of 400,000 square metres to
add to the existing supply of 1.1 million square metres by 2015, and projects in and around Riyadh
including the mixed use development
malls to be managed under the “Oasis Centre” brand by the Dubai based Landmark group and the
Building CONSTRUCTION and Interiors Market-Saudi Arabia
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Commercial and hospitality sectors have also received the indirect effects of the investment led
growth though as greater supply comes on board, though occupancies declined, Revenues per
able Room (RevPar) has steadily increased in the second quarter of 2013 over the
A number of hotel brands such as Starwood hotels, the Rocco Forte
hotel among others have announced plans for construction by the end of the year
areas of Jeddah, Mecca and Medina. It has been estimated by analysts that over the next few years
nearly US$ 120 billion would be spent toward the construction of new hotels. Rotana also has
similar plans in the budget segment wherein construction is already progressing as per plan. Reizdor
has announced its plans to open nearly 50 hotels in the budget segment over the next ten years. All
put together there are nearly 1200 hotel rooms awaited to come on board by 2015 of which 2700
supply of Grade A office spaces across the key markets such as Riyadh
d in 2013, and mega projects such as components of the King
including the Olaya towers or eight office buildings
, an additional Gross Leasable Area (GLA) of 120,000 square metres
having already entered the Riyadh market over 2012, growth is slow down to a slower pace
as older and lower grade office space segments get adversely affected by the
In the case of Jeddah, demand continues to remain strong, especially around the
In fact, Jeddah has an additional 1.7 million square metres
that is likely to come online by 2016. All these factors are likely to present
opportunities for the interiors and fit outs sector in 2013 and 2014 as well as in the long term
t is an attractive destination to medium to high end international brands owing
to the largely affluent and urbanizing and fast growing population, has resulted in shopping malls
operating at 100 percent occupancies and Saudi Arabia ranking fourteenth amon
global retail destinations for 2012. With an additional supply of GLA of 400,000 square metres to
add to the existing supply of 1.1 million square metres by 2015, and projects in and around Riyadh
including the mixed use developments such as the Kingdom Centre, the neighbourhood shopping
malls to be managed under the “Oasis Centre” brand by the Dubai based Landmark group and the
Saudi Arabia
P a g e : 10
Commercial and hospitality sectors have also received the indirect effects of the investment led
though occupancies declined, Revenues per
able Room (RevPar) has steadily increased in the second quarter of 2013 over the
A number of hotel brands such as Starwood hotels, the Rocco Forte
hotel among others have announced plans for construction by the end of the year, especially in the
It has been estimated by analysts that over the next few years
nearly US$ 120 billion would be spent toward the construction of new hotels. Rotana also has
onstruction is already progressing as per plan. Reizdor
has announced its plans to open nearly 50 hotels in the budget segment over the next ten years. All
put together there are nearly 1200 hotel rooms awaited to come on board by 2015 of which 2700
supply of Grade A office spaces across the key markets such as Riyadh
, and mega projects such as components of the King
including the Olaya towers or eight office buildings are brought
, an additional Gross Leasable Area (GLA) of 120,000 square metres
growth is slow down to a slower pace in
as older and lower grade office space segments get adversely affected by the
In the case of Jeddah, demand continues to remain strong, especially around the
square metres of office space
likely to present ample
in 2013 and 2014 as well as in the long term.
t is an attractive destination to medium to high end international brands owing
to the largely affluent and urbanizing and fast growing population, has resulted in shopping malls
operating at 100 percent occupancies and Saudi Arabia ranking fourteenth among AT Kearney’s top
global retail destinations for 2012. With an additional supply of GLA of 400,000 square metres to
add to the existing supply of 1.1 million square metres by 2015, and projects in and around Riyadh
the neighbourhood shopping
malls to be managed under the “Oasis Centre” brand by the Dubai based Landmark group and the
Building CONSTRUCTION and Interiors MarketSeptember 2013
Jabal Omar Project touted to be the Kingdom’s largest shopping mall are planned for development,
apart from the announcement in the second quarter of 2013 by the firms Faithful and Gould and
Majid Al Futtaim Properties for the construction of a new super mall in North Riyadh due for
completion by 2018 to add an additional GLA of over 150,000 square metres, to make
mall in Riyadh.
The strong demand by a string of regional and international retailers setting up shop or expanding
into Saudi Arabia is likely to continue to drive exp
construction segment as well as the interiors and fit outs market for this segment though activity is
likely to remain subdued in 2013 as projects from 2012 are still being completed.
The following is the list of top building projects across segments in KSA as of
Table 2: Top KSA Building Projects Awarded to Contractors in 201
Project Name
Client Consultant
Abraj Kudai in
Mecca
Ministry of
Finance,
Saudi Arabia
Dar Al Handasah
Consultants (Shair
and Partners)
King Abdullah
Bin Abdulaziz
Project For
Development of
Security Forces
Medical
Complexes
Ministry of
Interior,
Riyadh
Dar Al Handasah
Consultants (Shair
and Partners)
Ajyad General
Hospital
Development in
Makkah
The High
Commission
For The
Developmen
t of Makkah
ERGA Art & Design
(Primary Design) /
Dar Al Handasah
Consultants (Shair
and Partners)
Building CONSTRUCTION and Interiors Market-Saudi Arabia
www.indexexhibition.com www.ventures-me.com
Jabal Omar Project touted to be the Kingdom’s largest shopping mall are planned for development,
announcement in the second quarter of 2013 by the firms Faithful and Gould and
Majid Al Futtaim Properties for the construction of a new super mall in North Riyadh due for
completion by 2018 to add an additional GLA of over 150,000 square metres, to make
by a string of regional and international retailers setting up shop or expanding
is likely to continue to drive expansion over the next few years
as the interiors and fit outs market for this segment though activity is
likely to remain subdued in 2013 as projects from 2012 are still being completed.
The following is the list of top building projects across segments in KSA as of September
: Top KSA Building Projects Awarded to Contractors in 2013 (US$ Million)
Consultant Contractor Value (US$ Million)
Dar Al Handasah
Consultants (Shair
and Partners)
Saudi Binladin
Group
3,500
Dar Al Handasah
Consultants (Shair
and Partners)
ABV Rock Group 3,350
ERGA Art & Design
(Primary Design) /
Dar Al Handasah
Consultants (Shair
and Partners)
Saudi Binladin
Group
600
Saudi Arabia
P a g e : 11
Jabal Omar Project touted to be the Kingdom’s largest shopping mall are planned for development,
announcement in the second quarter of 2013 by the firms Faithful and Gould and
Majid Al Futtaim Properties for the construction of a new super mall in North Riyadh due for
completion by 2018 to add an additional GLA of over 150,000 square metres, to make it the largest
by a string of regional and international retailers setting up shop or expanding
ansion over the next few years in the retail
as the interiors and fit outs market for this segment though activity is
likely to remain subdued in 2013 as projects from 2012 are still being completed.
September 2013.
Value (US$
lion)
Project Type
3,500 Mixed Use
3,350 Hospital
600 Hospital
Building CONSTRUCTION and Interiors MarketSeptember 2013
Project Name
Client Consultant
Province /
Ministry of
Finance,
Saudi Arabia
King Khalid
International
Airport
Expansion -
Terminal 5
General
Authority for
Civil Aviation
(GACA),
Saudi Arabia
-
King Abdullah
International
Gardens in
Riyadh
Riyadh
Municipality
/ King
Abdullah
International
Gardens
Buro Happold
Barton Willmore /
Eden Project /
Natural History
Museum (NHM)
Consulting, UK
Aluminum
Smelter and
Rolling Mill -
Staff
Accommodation
Saudi
Arabian
Mining
Company
(Maaden),
Eastern
Province
WorleyParsons
Arabia Ltd. Co.
Ras Al Khair
Industrial
Complex -
Residential
Village
Saudi
Arabian
Mining
Company
(Maaden),
Eastern
Province
Worley Parsons
Building CONSTRUCTION and Interiors Market-Saudi Arabia
www.indexexhibition.com www.ventures-me.com
Consultant Contractor Value (US$ Million)
TAV Airports,
Turkey / Al Arrab
Contracting
Company Ltd.
500
Buro Happold /
Barton Willmore /
Eden Project /
Natural History
Museum (NHM)
Consulting, UK
Jawdat Contracting
Co.
280
WorleyParsons
Arabia Ltd. Co.
Azmeel
Contracting
Establishment
277
Worley Parsons Azmeel
Contracting
Establishment
260
Saudi Arabia
P a g e : 12
Value (US$
lion)
Project Type
500 Others
280 Others
277 Residential
Buildings
260 Residential
Buildings
Building CONSTRUCTION and Interiors MarketSeptember 2013
Project Name
Client Consultant
Bab Jeddah
(Jeddah Gate) -
Abraj Al Hilal -
Phase 2
Emaar
Middle East
Properties,
Saudi Arabia
Saudi
Consultants
Architects &
Engineer
Asas - Crystal
Tower in Jeddah
ASAS Pan
Gulf Real
Estate
Investment
Kling Consult
Zuhair Fayez
Partnership
Consultants
500- Bed
Specialized
Hospital in Hail
Ministry of
Health,
Saudi Arabia
Dar Al Majd
Consulting Engineers
Source: Ventures Onsite MENA Projects Database
Building CONSTRUCTION and Interiors Market-Saudi Arabia
www.indexexhibition.com www.ventures-me.com
Consultant Contractor Value (US$ Million)
Saudi Diyar
Consultants
Architects &
Engineers
Azmeel
Contracting
Establishment
250
Kling Consult /
Zuhair Fayez
Partnership
Consultants
Sameer Redwan
Construction and
Development
Company
200
Dar Al Majd
Consulting Engineers
Al Majal Al Arabi
Group
160
Projects Database www.venturesonsite.com
Saudi Arabia
P a g e : 13
Value (US$
lion)
Project Type
250 Residential
Buildings
200 Mixed Use
160 Hospital
Building CONSTRUCTION and Interiors MarketSeptember 2013
KSA Interiors and FitMarket Touted to be one of the fastest growing construction markets in the GCC,
market in the Kingdom of Saudi Arabia (KSA)
furnishings, lightings, partitions, flooring, kitchens, bathroom fittings etc
10 to 20 percent of the average construction project value
both international and regional investors a
market. Though activity is strong in the long term however, 2013 is likely to be a subdued y
the building construction market owing to rising construction costs and projects from 2012 which
have long terms completions. Consequently, the size of the interiors and fit outs market is estimated
at US$ The size of the market stood at
US$ 3.6 billion in 2014, at 7 percent as against
the initial spurt of the investment programmes wearing off by this year and growth slowing down
but likely to pick up into a steady pace in the long run as more projects come online gradually
The thrust of the successive government budgets on social infrastructure and the special focus on
developing tourism into a revenue generating sector with hospitality
Mecca, and Medina steadily coming online in 2013
infrastructure including educational and healthcare facilities
construction industry primarily in 201
As the budget expansion continues unabated in 2013 though with a smaller surplus, successive years
of spending have also driven the non
the economic development of the Kingdom,
retail and hospitality segments as well, attracting international brands to invest in the Kingdom’s
booming construction sector.
Though the flurry of activity has generated its share of cost escalatio
that are likely to pull down growth in 2013 apart from the cut in supply in the hydrocarbons sector
Building CONSTRUCTION and Interiors Market-Saudi Arabia
www.indexexhibition.com www.ventures-me.com
KSA Interiors and Fit
Touted to be one of the fastest growing construction markets in the GCC, the Interiors and Fit outs
market in the Kingdom of Saudi Arabia (KSA) encompassing internal wood works, soft and hard
furnishings, lightings, partitions, flooring, kitchens, bathroom fittings etc constitutes approximately
onstruction project value, and has been attracting attention from
both international and regional investors apart from local firms wanting a share of the lucrative
market. Though activity is strong in the long term however, 2013 is likely to be a subdued y
the building construction market owing to rising construction costs and projects from 2012 which
have long terms completions. Consequently, the size of the interiors and fit outs market is estimated
the market stood at US$ 3.3 billion in 2013 and only likely to grow
7 percent as against a whopping 35 percent annual growth
the initial spurt of the investment programmes wearing off by this year and growth slowing down
ly to pick up into a steady pace in the long run as more projects come online gradually
The thrust of the successive government budgets on social infrastructure and the special focus on
developing tourism into a revenue generating sector with hospitality mega projects across Jeddah,
Mecca, and Medina steadily coming online in 2013 and beyond, continued
infrastructure including educational and healthcare facilities are likely to drive growth of building
in 2013 and 2014.
As the budget expansion continues unabated in 2013 though with a smaller surplus, successive years
of spending have also driven the non-oil sector to grow faster than the oil sector also contributing to
the economic development of the Kingdom, further enhancing opportunities across the commercial,
retail and hospitality segments as well, attracting international brands to invest in the Kingdom’s
Though the flurry of activity has generated its share of cost escalations in the construction sector
that are likely to pull down growth in 2013 apart from the cut in supply in the hydrocarbons sector
Saudi Arabia
P a g e : 14
KSA Interiors and Fit-outs
the Interiors and Fit outs
encompassing internal wood works, soft and hard
constitutes approximately
has been attracting attention from
firms wanting a share of the lucrative
market. Though activity is strong in the long term however, 2013 is likely to be a subdued year for
the building construction market owing to rising construction costs and projects from 2012 which
have long terms completions. Consequently, the size of the interiors and fit outs market is estimated
likely to grow marginally to
a whopping 35 percent annual growth in 2012 due to
the initial spurt of the investment programmes wearing off by this year and growth slowing down
ly to pick up into a steady pace in the long run as more projects come online gradually.
The thrust of the successive government budgets on social infrastructure and the special focus on
mega projects across Jeddah,
and beyond, continued investment in
drive growth of building
As the budget expansion continues unabated in 2013 though with a smaller surplus, successive years
oil sector to grow faster than the oil sector also contributing to
further enhancing opportunities across the commercial,
retail and hospitality segments as well, attracting international brands to invest in the Kingdom’s
ns in the construction sector
that are likely to pull down growth in 2013 apart from the cut in supply in the hydrocarbons sector
Building CONSTRUCTION and Interiors MarketSeptember 2013
pulling down oil sector growth, Saudi Arabia continues to hold the title of the largest market
building interiors and fit outs in the region providing opportunities across its commercial,
residential, hospitality, education and healthcare sectors as well as the retail sector with fresh
projects as well as refurbishments fuelling growth over the next few years. The following f
represents the Interiors and Fit out spend across the key building segme
Figure 4: KSA Interiors and Fit-outs Spend (US$ Million), 201
Source: Ventures Onsite MENA Projects Database
The strong focus on affordable housing schemes along with the incentives such as loans and the
impending mortgage law to ease out gaps in supply and demand, is likely to be the main driver to
growth in construction over 2013 and 2014 and with private developments such as the largest
residential development Burj Rafal nearing completion, the residential segment is likely to be the
strongest growth area for the interiors and fit outs market both
-
200.00
400.00
600.00
800.00
1,000.00
1,200.00
1,400.00
Commercial Buildings
Hotel
(Inte
rior S
pend
(US$
Mill
ion)
KSA Interiors and Fit
Building CONSTRUCTION and Interiors Market-Saudi Arabia
www.indexexhibition.com www.ventures-me.com
pulling down oil sector growth, Saudi Arabia continues to hold the title of the largest market
outs in the region providing opportunities across its commercial,
residential, hospitality, education and healthcare sectors as well as the retail sector with fresh
fuelling growth over the next few years. The following f
represents the Interiors and Fit out spend across the key building segments in 2013 and 2014.
outs Spend (US$ Million), 2013-2014
Source: Ventures Onsite MENA Projects Database www.venturesonsite.com
The strong focus on affordable housing schemes along with the incentives such as loans and the
impending mortgage law to ease out gaps in supply and demand, is likely to be the main driver to
growth in construction over 2013 and 2014 and with private developments such as the largest
residential development Burj Rafal nearing completion, the residential segment is likely to be the
strongest growth area for the interiors and fit outs market both in 2013 and 2014. Educational
Residential Shopping Centre Hospitals Educational Facilities
KSA Interiors and Fit-outs Spend (US$ Million), 2013-2014
2013 2014
Saudi Arabia
P a g e : 15
pulling down oil sector growth, Saudi Arabia continues to hold the title of the largest market for
outs in the region providing opportunities across its commercial,
residential, hospitality, education and healthcare sectors as well as the retail sector with fresh
fuelling growth over the next few years. The following figure
nts in 2013 and 2014.
The strong focus on affordable housing schemes along with the incentives such as loans and the
impending mortgage law to ease out gaps in supply and demand, is likely to be the main driver to
growth in construction over 2013 and 2014 and with private developments such as the largest
residential development Burj Rafal nearing completion, the residential segment is likely to be the
in 2013 and 2014. Educational
Educational Facilities
Others
Building CONSTRUCTION and Interiors MarketSeptember 2013
facilities too have been given a helping hand with massive government spending while commercial
sector strongly rebounds on the back of demand for high grade office space from Jeddah.
With the strong signals sent out by the
renewed focus on tourism, the hospitality sector is likely to be the third largest market se
interiors and fit-outs after residential and commercial sectors in 2013 and 2014.
Discussions are ongoing to bring about greater regulation to check rising rentals and prices in this
segment by cracking down on non licensed real estate offices are further enhancing demand in the
residential segment, fuelling prospects for growth in the interiors and fit ou
The following is the list of building projects due for completion in 2013 and 2014.
Table 3: Top Building projects Completed in 2013 by Value (US$ Million)
Project Name
Client Consultant
King Abdullah
Financial
District (KAFD) -
Phase 2 - 20
Buildings &
New Towers
Rayadah
Investment
Company /
Public Pension
Agency (PPA) /
World Trade
Center
-
Building CONSTRUCTION and Interiors Market-Saudi Arabia
www.indexexhibition.com www.ventures-me.com
facilities too have been given a helping hand with massive government spending while commercial
sector strongly rebounds on the back of demand for high grade office space from Jeddah.
With the strong signals sent out by the economy and its booming construction sector and its
renewed focus on tourism, the hospitality sector is likely to be the third largest market se
outs after residential and commercial sectors in 2013 and 2014.
ing to bring about greater regulation to check rising rentals and prices in this
segment by cracking down on non licensed real estate offices are further enhancing demand in the
residential segment, fuelling prospects for growth in the interiors and fit outs market in the future.
The following is the list of building projects due for completion in 2013 and 2014.
: Top Building projects Completed in 2013 by Value (US$ Million)
Consultant Contractor
Estimated Value (US$ Million)
Saudi Binladin
Group
3,700
Saudi Arabia
P a g e : 16
facilities too have been given a helping hand with massive government spending while commercial
sector strongly rebounds on the back of demand for high grade office space from Jeddah.
economy and its booming construction sector and its
renewed focus on tourism, the hospitality sector is likely to be the third largest market segment for
ing to bring about greater regulation to check rising rentals and prices in this
segment by cracking down on non licensed real estate offices are further enhancing demand in the
ts market in the future.
The following is the list of building projects due for completion in 2013 and 2014.
d US$
Project Type
Commercial
Buildings
Building CONSTRUCTION and Interiors MarketSeptember 2013
Project Name
Client Consultant
Al Bait Towers
in Makkah
Munshaat
Real Estate
Project
Company /
International
Ejarah and
Investment Co
/ Aref
Investment
Group / The
High
Commission
For The
Development
of Makkah
Province /
King Abdulaziz
Endowment
Dar Al Handasah
Consulta
(Shair and
Partners)
Diyar Consultant
Architects &
Engineers
International
Projects
Consultancy (IPC)
King Saud
University -
Girls College
King Saud
University
(KSA)
Jurong
Internati
King Abdullah
Petroleum
Studies &
Research
Center -
Residential and
Community
Complex
Saudi Aramco -
Building CONSTRUCTION and Interiors Market-Saudi Arabia
www.indexexhibition.com www.ventures-me.com
Consultant Contractor
Estimated Value (US$ Million)
Dar Al Handasah
Consultants
(Shair and
Partners) / Saudi
Diyar Consultants
Architects &
Engineers /
International
Projects
Consultancy (IPC)
Saudi Binladin
Group
3,180
Jurong
International
Saudi Binladin
Group
2,400
SK Engineering
& Construction
534
Saudi Arabia
P a g e : 17
d US$
Project Type
Mixed Use
Educational
Facilities
Residential
Buildings
Building CONSTRUCTION and Interiors MarketSeptember 2013
Project Name
Client Consultant
King Abdulaziz
Center for
Knowledge and
Culture
Saudi Aramco Theatre Projects
Consultants (UK)
/ Saudi
Consultin
Services
(SaudConsult)
Lord Cultural
Resources
King Abdullah
Financial
District (KAFD) -
Six Residential
Buildings
Rayadah
Investment
Company /
Public Pension
Agency (PPA)
Gensler
Associates
Al-Tayseer
Towers
Naseel
Holding Co.
For
Commercial
Development
-
Immigrants
Housing Project
- Package 3
(Karch)
King Abdullah
Bin Abdulaziz
Foundation for
Housing
Development
Zuhair Fayez
Partnership
Consultants
Immigrants
Housing Project
- Package 2
(Rawan)
King Abdullah
Bin Abdulaziz
Foundation for
Housing
Development
Zuhair Fayez
Partnership
Consultants
Building CONSTRUCTION and Interiors Market-Saudi Arabia
www.indexexhibition.com www.ventures-me.com
Consultant Contractor
Estimated Value (US$ Million)
Theatre Projects
Consultants (UK)
/ Saudi
Consulting
Services
(SaudConsult) /
Lord Cultural
Resources
Saudi Oger
533
Gensler
Associates
Saudi Binladin
Group
430
MOBCO Civil
Construction
400
Zuhair Fayez
Partnership
Consultants
Al Arrab
Contracting
Company
318
Zuhair Fayez
Partnership
Consultants
Al Arrab
Contracting
Company
285
Saudi Arabia
P a g e : 18
d US$
Project Type
Others
Residential
Buildings
Hotel
Mixed Use
Mixed Use
Building CONSTRUCTION and Interiors MarketSeptember 2013
Project Name
Client Consultant
Wahat Makkah
- Phase 1
Albalad
Alameen /
Makkiyoon
Urban
Developers
Makkiyoon
Urban
Developers
30-Floor
(Granada)
Hotel in
Makkah
Tabung Haji,
Malaysia /
Abdul Lateef
Jamil Real
Estate
Dar Al Handasah
Consultants
(Shair and
Partners)
Al Majmaah
University -
Accommodatio
n
Ministry of
Higher
Education,
Saudi Arabia
Alnaim Architects
Engineers &
Planners
Jabal Al Kaba
Development -
Anjum Hotel-
Phase 1
Abdul Lateef
Jamil Real
Estate
Dar Al Handasah
Consultants
(Shair and
Partners)
The
Headquarters
Business Park
in Jeddah
Al-Dar Al-
Khasa for
Urban
Development
/ Adeem Al-
Wataniya
Company
Batley Partners /
Vanir
Construction
Management /
Jaffar Al Sabbgh
Engineering
Consultant &
Associates
Building CONSTRUCTION and Interiors Market-Saudi Arabia
www.indexexhibition.com www.ventures-me.com
Consultant Contractor
Estimated Value (US$ Million)
Makkiyoon
Urban
Developers
Al Khayalah Al
Arabia Group
280
Dar Al Handasah
Consultants
(Shair and
Partners)
Saudi
Constructioneer
s Est.
267
Alnaim Architects
Engineers &
Planners
Al Sagheer
Trading and
Contracting
Company
250
Dar Al Handasah
Consultants
(Shair and
Partners)
Saudi
Constructioneer
s Establishment
250
Batley Partners /
Vanir
Construction
Management /
Jaffar Al Sabbgh
Engineering
Consultant &
Associates
Freyssinet Saudi
Arabia
240
Saudi Arabia
P a g e : 19
d US$
Project Type
Residential
Buildings
Hotel
Residential
Buildings
Hotel
Commercial
Buildings
Building CONSTRUCTION and Interiors MarketSeptember 2013
Project Name
Client Consultant
King Abdullah
Specialist
Hospital for
Children
National
Guard Health
Affairs
-
Source: Ventures Onsite MENA Projects Database
Table 4: Top Building projects Due for Completion in 2014 by Value (US$ Million)
Project Name
Client Consultant
King Abdullah Financial District : 20 towers
Rayadah Investment Company
Henning Larsen Architects (HenningTegnestue)Omrania & Associates (O&A)
King Abdulaziz International Airport Expansion - Main Terminal Package - Phase 1
General Authority for Civil Aviation (GACA), Saudi Arabia
Aeroports dParis Ingenierie (ADPI) / AtkinsDar Al Handasah Consultants (Shair and Partners)
Prince Mohammad Bin Abdulaziz Airport Expansion in Madina - Phase 1
General Authority for Civil Aviation (GACA), Saudi Arabia / Tibah Airports Operation Company
Zuhair Fayez Partnership ConsultantsHalcrow Group Ltd
New Housing Project in the Eastern Province
Saudi National Guard
-
Building CONSTRUCTION and Interiors Market-Saudi Arabia
www.indexexhibition.com www.ventures-me.com
Consultant Contractor
Estimated Value (US$ Million)
Saudi Binladin
Group
200
Source: Ventures Onsite MENA Projects Database www.venturesonsite.com/
: Top Building projects Due for Completion in 2014 by Value (US$ Million)
Consultant Contractor
Estimated Value (US$ Million)
Henning Larsen Architects (Henning Larsen Tegnestue) / Omrania & Associates (O&A)
Saudi Binladin Group
3,700
Aeroports de Paris Ingenierie (ADPI) / Atkins / Dar Al Handasah Consultants (Shair and Partners)
Saudi Binladin Group
3,194
Zuhair Fayez Partnership
onsultants / Halcrow Group
Saudi Oger / TAV Airports, Turkey / Al Rajhi Holding
2,406
Arabtec Saudi Arabia L.L.C
1,330
Saudi Arabia
P a g e : 20
d US$
Project Type
Hospital
Estimated US$
Project Type
Commercial Buildings
Others
Others
Residential Buildings
Building CONSTRUCTION and Interiors MarketSeptember 2013
Project Name
Client Consultant
Jabal Omar Development - Phase 1
Jabal Omar Development Company / Hilton International / Hyatt Regency / Marriott International; Global Sales Middle East & Africa / Mercure Hotels / Resta Hotels & Resorts / Sofitel Hotels
Consolidated Consultants, Jordan / Design & ConstructEngineering (DEC)Consolidated Engineering Company (Khatib & Alami)Socotec
King Khalid University in Abha - Medical City - Phase 2
King Khalid University
Zuhair Fayez Partnership Consultants
Hail University - Staff Accommodation
Ministry of Higher Education, Saudi Arabia
Zuhair Fayez Partnership Consultants, Makkah / Saudi Consulting Services (SaudConsult)
Lamar Towers in Jeddah
Zahran Real Estate
Saudi Diyar ConsultantArchitects & EngineersRMJM (Robert Mathew Johnson Marshall), Dubai / Saudi Diyar ConsultantArchitects & Engineers
Building CONSTRUCTION and Interiors Market-Saudi Arabia
www.indexexhibition.com www.ventures-me.com
Consultant Contractor
Estimated Value (US$ Million)
Consolidated Consultants, Jordan / Design & Construction Engineering (DEC) / Saudi Consolidated Engineering Company (Khatib & Alami) / Saudi Socotec
Nesma & Partners Contracting Company
906
Zuhair Fayez Partnership Consultants
Baytur Construction & Contracting
800
Zuhair Fayez Partnership Consultants, Makkah / Saudi Consulting Services (SaudConsult)
Abdul Rahman Saad Al Rashid & Sons(Artar)
640
Saudi Diyar Consultants Architects & Engineers / RMJM (Robert Mathew Johnson Marshall), Dubai / Saudi Diyar Consultants Architects & Engineers
Drake & Scull International
553
Saudi Arabia
P a g e : 21
Estimated US$
Project Type
Mixed Use
Educational Facilities
Residential Buildings
Mixed Use
Building CONSTRUCTION and Interiors MarketSeptember 2013
Project Name
Client Consultant
King Abdullah Petroleum Studies & Research Center (Kapsarc) - Commercial Buildings
Saudi Aramco Zaha Hadid Architects, UK / Saudi Consulting Services (SaudConsult), Riyadh / Ramboll Middle EastNatural System International (NSI)
King Abdullah Financial District (KAFD) - Vertical Medina
Rayadah Investment Company
Skidmore, Owings & Merrill (SOM)
Marriott Hotels in Jizan
Marriott International; Global Sales Middle East & Africa
-
King Khalid University at Abha - Medical City Male Campus Phase 2
Ministry of Higher Education, Saudi Arabia / King Khalid University
Zuhair Fayez Partnership Consultants
Imam Islamic University - Staff Housing
Imam Islamic University / Ministry of Higher Education, Saudi Arabia
Imam Islamic University / Gardiner & Theobald International (GTI)Group (Tecnica Y Proyectos)
Two Towers in King Abdullah Business Center
Al Rajhi Investment Group, Saudi Arabia
-
Building CONSTRUCTION and Interiors Market-Saudi Arabia
www.indexexhibition.com www.ventures-me.com
Consultant Contractor
Estimated Value (US$ Million)
Zaha Hadid Architects, UK / Saudi Consulting Services (SaudConsult), Riyadh / Ramboll
dle East / Natural System International (NSI)
Drake & Scull International
533
Skidmore, Owings & Merrill (SOM)
Saudi Binladin Group
530
Abdul Rahman Saad Al Rashid & Sons(Artar)
500
Zuhair Fayez Partnership Consultants
Baytur Construction & Contracting
492
Imam Islamic University / Gardiner &
obald International (GTI) / Typsa Group (Tecnica Y Proyectos)
Al Fouzan Trading & General Construction Company / Al Kifah Contracting Company
453
Al Rajhi Projects and Construction
410
Saudi Arabia
P a g e : 22
Estimated US$
Project Type
Commercial Buildings
Mixed Use
Hotel
Educational Facilities
Residential Buildings
Commercial Buildings
Building CONSTRUCTION and Interiors MarketSeptember 2013
Project Name
Client Consultant
King Abdullah Financial District (KAFD) - Wyndham Hotel & Office Tower
Public Pension Agency (PPA) / Rayadah Investment Company / Wyndham Hotel Group, US
Omrania Associates (O&A)/ Lab Architecture Studio, UK / Goettsch Partners (GP) / Kling Stubbins / Henning Larsen Architects (HenningTegnestue)
Tabouk University - Phase 1
Ministry of Higher Education, Saudi Arabia / Tabuk University
-
King Abdullah Financial District (KAFD) - Samba Headquarters
Rayadah Investment Company / Public Pension Agency (PPA)
Davis LanArabian Gulf / Buro HappoldOmrania & Associates (O&A)/ Henning Larsen Architects (HenningTegnestue)Walter P Moore
Building CONSTRUCTION and Interiors Market-Saudi Arabia
www.indexexhibition.com www.ventures-me.com
Consultant Contractor
Estimated Value (US$ Million)
Omrania & Associates (O&A) / Lab Architecture Studio, UK / Goettsch Partners (GP) / Kling Stubbins / Henning Larsen Architects (Henning Larsen Tegnestue)
Saudi Oger 380
Fayafer Trading & Contracting Co. / Hamd Al Saghir / Al Harbi Trade & Contracting Company Ltd. / Shar for Trading and Contracting Company
375
avis Langdon Arabian Gulf / Buro Happold / Omrania & Associates (O&A) / Henning Larsen Architects (Henning Larsen Tegnestue) / Walter P Moore
El Seif Engineering Contracting Company (ESEC)
373
Saudi Arabia
P a g e : 23
Estimated US$
Project Type
Commercial Buildings
Educational Facilities
Commercial Buildings
Building CONSTRUCTION and Interiors MarketSeptember 2013
Project Name
Client Consultant
Al-Farida in Jeddah
Ewaan Global Residential Company
Array International Architects / ProjacsDistenguisheb Experts for AE Consultancy Khobara Al Mumayezeen Engineering Consultants (MZECH)
Source: Ventures Onsite MENA Projects Database
Future Outlook for the KSA Interiors and Fit
While growth in the interiors and fit outs market is likely to slow down to 7 percent due to subdued
construction activity in 2013 and the lower base effect of strong construc
plethora of projects being awarded under the sustained investment programme of the government
in 2011 and 2012, it continues to be the most active market in the region. The residential segment
of the interiors and fit out market is th
The hospitality segment is next, where a number of international brands have evinced interest in the
economy in recent years attracted by its affluent and growing, young population sustaining dem
and the focus on tourism with the Kingdom
development, thus setting in motion
refurbishment of existing ones. The infrastructure development
has further accentuated the demand from this segment. Though the retail and hospitals segment
might remain subdued in 2013, along with education and the residential, commercial and hospitality
segments growth in the KSA interiors and fit outs market is likely to gradually inch upward in the
next few years on the back of unflagging demand and sustained investment, hampered only
marginally by rising construction costs increasing the cost of buildings that could slash the bud
Building CONSTRUCTION and Interiors Market-Saudi Arabia
www.indexexhibition.com www.ventures-me.com
Consultant Contractor
Estimated Value (US$ Million)
Array International
chitects / Projacs / Distenguisheb Experts for AE Consultancy - Khobara Al Mumayezeen Engineering Consultants (MZECH)
Arjab Foundation for Development. / New Job Contracting Co. / Al Ishadah Contracting & Maintenance Co. / Al-Hayakel for Construction / Ruwad Civil construction (RCC)
324
Source: Ventures Onsite MENA Projects Database www.venturesonsite.com/
Future Outlook for the KSA Interiors and Fit-outs Market
While growth in the interiors and fit outs market is likely to slow down to 7 percent due to subdued
construction activity in 2013 and the lower base effect of strong construction activities and a
plethora of projects being awarded under the sustained investment programme of the government
in 2011 and 2012, it continues to be the most active market in the region. The residential segment
of the interiors and fit out market is the one to watch out for both for budget and luxury interiors
ere a number of international brands have evinced interest in the
economy in recent years attracted by its affluent and growing, young population sustaining dem
and the focus on tourism with the Kingdom’s religious hotspots Mecca and Medina being opened for
in motion an expansion of hotels in the region, and expansion and
refurbishment of existing ones. The infrastructure development also undertaken by the government
has further accentuated the demand from this segment. Though the retail and hospitals segment
might remain subdued in 2013, along with education and the residential, commercial and hospitality
nteriors and fit outs market is likely to gradually inch upward in the
next few years on the back of unflagging demand and sustained investment, hampered only
marginally by rising construction costs increasing the cost of buildings that could slash the bud
Saudi Arabia
P a g e : 24
Estimated US$
Project Type
Residential Buildings
outs Market
While growth in the interiors and fit outs market is likely to slow down to 7 percent due to subdued
tion activities and a
plethora of projects being awarded under the sustained investment programme of the government
in 2011 and 2012, it continues to be the most active market in the region. The residential segment
e one to watch out for both for budget and luxury interiors.
ere a number of international brands have evinced interest in the
economy in recent years attracted by its affluent and growing, young population sustaining demand
’s religious hotspots Mecca and Medina being opened for
, and expansion and
also undertaken by the government
has further accentuated the demand from this segment. Though the retail and hospitals segment
might remain subdued in 2013, along with education and the residential, commercial and hospitality
nteriors and fit outs market is likely to gradually inch upward in the
next few years on the back of unflagging demand and sustained investment, hampered only
marginally by rising construction costs increasing the cost of buildings that could slash the budgets
Building CONSTRUCTION and Interiors MarketSeptember 2013
for interiors marginally in the short run but prove a greater potential for budget and refurbishment
options in the long run.
Recent News Updates from the Saudi Building
Construction Industry
Construction and Commerce Growing Fastest in Saudi Arabia
http://www.ifpinfo.com/Kingdom%20of%20Saudi%20Arabia
UAE Hotel Group Eyes Saudi with Hotel Brand
http://www.arabianbusiness.com/uae
Sofitel hired to run new luxury Saudi hotel
http://www.arabianbusiness.com/sofitel
World’s Largest Holiday Inn
The 1,238-room Holiday Inn Makkah is slated for completion in 2016
http://gulfbusiness.com/2013/08/worlds
makkah/#.UjBHW8ZJP8Y
Capitas, IFA set up JV for Saudi hotels
http://www.arabnews.com/news/463388
TAV Construction to build $400 million terminal at Riyadh airport
http://www.worldconstructionnetwork.com/news/tav
at-riyadh-airport-160513/
Hilton to open new DoubleTree
http://www.worldconstructionnetwork.com/news/hilton
property-in-saudi-arabia-270213/
Building CONSTRUCTION and Interiors Market-Saudi Arabia
www.indexexhibition.com www.ventures-me.com
for interiors marginally in the short run but prove a greater potential for budget and refurbishment
Recent News Updates from the Saudi Building
Construction Industry
Construction and Commerce Growing Fastest in Saudi Arabia
http://www.ifpinfo.com/Kingdom%20of%20Saudi%20Arabia-NewsArticle-3310
UAE Hotel Group Eyes Saudi with Hotel Brand
http://www.arabianbusiness.com/uae-hotel-group-eyes-saudi-with-budget-brand
Sofitel hired to run new luxury Saudi hotel
http://www.arabianbusiness.com/sofitel-hired-run-new-luxury-saudi-hotel-517382.html
World’s Largest Holiday Inn to Open in Saudi’s Makkah
room Holiday Inn Makkah is slated for completion in 2016.
http://gulfbusiness.com/2013/08/worlds-largest-holiday-inn-to-open-in-saudis-
Capitas, IFA set up JV for Saudi hotels
http://www.arabnews.com/news/463388
TAV Construction to build $400 million terminal at Riyadh airport
http://www.worldconstructionnetwork.com/news/tav-construction-to-build-400
Hilton to open new DoubleTree-branded property in Saudi Arabia
http://www.worldconstructionnetwork.com/news/hilton-to-open-new-doubletree
Saudi Arabia
P a g e : 25
for interiors marginally in the short run but prove a greater potential for budget and refurbishment
Recent News Updates from the Saudi Building
Construction and Commerce Growing Fastest in Saudi Arabia
brand-517560.html
517382.html
TAV Construction to build $400 million terminal at Riyadh airport
400-million-terminal-
branded property in Saudi Arabia
doubletree-branded-
Building CONSTRUCTION and Interiors MarketSeptember 2013
Rising building costs for Saudi's 500,000 housing project
http://arabianindustry.com/construction/news/2013/sep/9/rising
housing-project-4438460/#.UjBOMcZJ
Saudi housing minister signs $1bn contracts to develop
accommodation for 250,000
http://arabianindustry.com/construction/news/2013/aug/18/saudi
contracts-to-develop-accommodation
Building CONSTRUCTION and Interiors Market-Saudi Arabia
www.indexexhibition.com www.ventures-me.com
Rising building costs for Saudi's 500,000 housing project
http://arabianindustry.com/construction/news/2013/sep/9/rising-building-costs-
4438460/#.UjBOMcZJP8Y
Saudi housing minister signs $1bn contracts to develop
accommodation for 250,000
http://arabianindustry.com/construction/news/2013/aug/18/saudi-housing-minister
accommodation-for-250000-4414969/#.UjBfysZJP8Y
Saudi Arabia
P a g e : 26
Rising building costs for Saudi's 500,000 housing project
-for-saudis-500000-
Saudi housing minister signs $1bn contracts to develop
minister-signs-1bn-