ksa construction cost benchmarking 2022

The KSA construction market is anticipated to grow by 2.9% in 2021. Copyright2023 Jones Lang LaSalle IP, Inc. Introduction Construction cost benchmarking is achieved by considering various parameters: General Conditions, Design Proposal, Design Builder's Fee, Overhead, Profit, Procurement Markup, Contingency Allowance, Retainage Application, Change Order Markup for General Contractor and Sub Contractor (OH&P), and Sub Contractor Markup. Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. Specialising in start-to-finish project development solutions, their collective attention to detail, and passion for getting everything right, helps define and solidify their customers' goals, whilst establishing and managing realistic schedules and budgets. This statistic displays the prices for construction materials in Saudi Arabia as of the third quarter of 2021. Retail shopping facility construction costs in the U.S. 2022, by city Retail real estate under construction in the U.S. 2021-2022, by type Value of new U.S. private sector food and beverage . 0000115848 00000 n 0000016169 00000 n High inflation and energy costs continue to pose challenges to the construction sector what can investors and owners do? KSA construction cost benchmarking report Q2 2021 Download PDF (0.21MB), Thank you for your enquiry. The KSA construction market is anticipated to grow by 2.9% in 2021. In 2022, the industry is projected to continue to. We are 36,000 people active in over 70 countries. 0000055644 00000 n The reference data section provides averaged international and regional cost data within the built environment. Announced in January this year by Crown Prince Mohammed bin Salman, the ambitious Riyadh Strategy 2030 aims to create 35,000 new jobs for Saudi nationals, pump up to SR70 billion into the national. The Currie & Brown approach is founded on collaborative working to achieve exceptional results. Research and Markets Oil prices (Brent & WTI) have continued to gain this year with forecasts in September at $69-$66/bl2 for Q4 2021. | These articles aim to provoke thoughts in relation to the growing opportunities within the Middle East on subjects such as repurposing underutilized buildings for food security challenges and inner-city agriculture. 0000027207 00000 n A comprehensive source of construction cost data in the Middle East. in The Kingdom of Saudi Arabia Cost models are an essential tool topredict the cost of construction at the inception stage of projects and to benchmark proposed project construction costs against similar developments. 0000038220 00000 n Construction Costs. %PDF-1.4 % | We will then delete it safely and securely. Benchmarking is basically the major benchmark components to be analysed.investigating & researching historical Phase 2: Document and compile a list of the costs & performance, a benchmark was major cost / performance drivers, key component master masons datum point or mark on and collect performance and specific historical cost 0000007713 00000 n You can do this here. All costs are converted into US . 0000001607 00000 n Economic indicators, major projects, contractors, consultants and project owners active in the Kingdom are listed with details. Choose a country or region to see specific content from that location. 0000016036 00000 n | In 2011 the Arab Spring brought focus to the need for social investment by these governments. 0000069238 00000 n The handbook also reviews the impacts and threats experienced over the last 12 months on local, regional and international markets. The report highlights construction activity in the Kingdom of Saudi Arabia in 2022 as well as how the industry is expected to take shape in 2023. 0000028320 00000 n 0000002156 00000 n At Currie & Brown, we recognise such differences and have established specialist teams to ensure that our client solutions ideally balance technical knowledge and capability with sector expertise. Please download the full report to access the reference data. Implement tools, processes and strategies that improve the value and performance of your real estate. Manufacturing Facility (50,000 150,000 SF, 5 10 miles from city center, excludes manufacturing equipment) $68 to $112 per SF / $732 to $1,205 M2, Food Production / Dairy Facility (45,000 200,000 SF, 5 10 miles from city center, (excludes refrigeration equipment & tri-clover SS process piping systems) $87 to $149 per SF / $936 to $1,603 M2, Warehouse / Logistic Center (35,000 250,000 SF, 5 10 miles from city center) $64 to $110 per SF / $689 to $1,184 M2, High Rise Apartments 5 10 Floors (Private, 5 10 miles from city center) $100 to $167 per SF / $1,076 to $1,797 M2, 3 5 Story Hotel (2 3 Star, 5 10 miles from city center) $105 to $172 per SF / $1,130 to $1,850 M2, 3 5 Story Office (Air Conditioned, 5 10 miles from city center) $108 to $178 per SF / $1,162 to $1,915 M2, Shopping Mall (150,000 350,000 SF Minimal Fit Out), 10 miles from city center $85 to $133 per SF / $915 to $1,431 M2. 1. 0000115554 00000 n Positive outlook $z=BZ7#;4]t3EC0Z0'Z1B)b8zM)*T5s\PJ7LTcV\NSJ\&rzye~SxZ%L n$c9(Edl} 4s?w/[7ulZ 2mi%17,Lml0P7^F elcd4u;OI8{99~qF#1^&w6s%r"5v gBT.GbK(/_;4./\ 0000019517 00000 n The average price for . 0000115994 00000 n 0000030296 00000 n Continued increase in HNWI within prime residential real estate market. A rebooted privatization program aimed at injecting much needed foreign direct investments (FDIs) into the Egyptian economy is likely to spur construction activities and accelerate the recovery of Cairos real estate sector in the coming years. The report highlights construction activity in the Kingdom of Saudi Arabia in 2022 as well as how the industry is expected to take shape in 2023. Unprecedented world class entertainment projects are happening in Saudi Arabia 2022, professional fees, statutory fees, legal fees, The market is witnessing more procurement and construction works starting for Giga projects, hbbbd`b``3 1x4> 3 Saudi Arabia's construction industry is forecast to recover in 2021, growing by 2.9%, after contracting by an estimated 0.5% in 2020. Economic indicators, major projects,. The government continues to maintain its commitment towards its Vision 2030 goals, particularly in sectors such as the housing program, infrastructure, renewables, water projects, while allocating contingent funds towards addressing the risks related to the pandemic. Please get in touch. 0000002536 00000 n 0000001900 00000 n 0000037709 00000 n 0000038050 00000 n The total installed cement production capacity is forecasted to increase from over 50 million tons per annum to well over 60 million tons by 2015. A.a~f_;Td$m!ZCEV'%;4!$0 |~mi~+5;td{LM*~v9b.c y5IJ'nkP:YZ$|cyr+75m%_(R@et|b @U8frfvP1d|0 FU>rHsw5Asbf` ).{+sGKu5X.g.uok_,W?vMt= {st6>uklQ5esdz`0u:anZ xi4]C[yue$Qm[(=lcEx*l YifLN5tPOi We will then delete it safely and securely. 0000052955 00000 n Click the red microphone and say what you are looking for or type in this box. The market is witnessing more procurement and construction works starting for Giga projects, plus higher than normal tender returns for fast paced projects. 0000002268 00000 n 0000037348 00000 n While the world's economic outlook remains turbulent, the Kingdom's economy remains buoyant. 0000106311 00000 n 0000014557 00000 n Hospitality sector is showing strong rebound from Covid lows, including for both New Build, and Refubishment and Alteration projects. Connect with {name} for more information & questions, Arcadis will use your name and email address only to respond to your question. 0000007886 00000 n Demand more from your real estate. HWn6}W6 8FF_EuDo-QL6M!Xs34?Pv]__}`/F?!XN"OE~1q2&kBic |uy=%@|]MveXijJKeUmrGfeWz%*V3HgkGL=!HFrh!hh$F^fd;lm9r . Construction Costs Benchmarking Kingdom of Saudi Arabia Q4 2022 Market Highlights Saudi Arabia's construction sector in particular, driven by the Kingdom's overall popularity on the world stage, increased in line with the Vision 2030. 0000043435 00000 n We also take a look at the construction industrys role in reducing global carbon emissions by addressing embodied carbon in construction, and examine the opportunities and challenges faced by public and private sector finances in regard to climate change action and disclosures in financial decision-making. 0000092011 00000 n The handbook also reviews the impacts and threats experienced over the last 12 months on local, regional and international markets. 2022 Middle East Construction Labor, Material, Labor Productivity & Cost Databases / PDF's Countries covered includes Bahrain, Egypt, Iraq, Kuwait, Qatar, Saudi Arabia, Turkey, UAE & (6) other . Construction price inflation to result in higher building costs in 2022 in Saudi Arabia: JLL report JLL has estimated that tender prices rose by an average of 4.5% across Saudi Arabia in 2021, and is anticipating a larger magnitude of increase in 2022 by Angitha Pradeep August 10, 2022 Your username or password is invalid. 0000022546 00000 n 0000051932 00000 n Saudi Arabias construction industry continues to lead the MENA region despite macroeconomic conditions impacting the sector globally. Our privacy policy explains what information we gather about you, what we use that information for, and who we give that information to. 0000056366 00000 n 0000107129 00000 n For more information about how JLL processes your personal data, please view ourprivacy statement. 0000114925 00000 n Alternative procurement routes being considered to manage risk of tender price inflation for major works. Site bybeMarketing. @Rmw61$cRbCBV08E+B4ZEH~_g4HqV hS6}m5D XlI;8tmn_K 6A&2ya| 'Qxf^ 2}56d1QW:;'C2~vu7 x}rHMZ cjh#B>6/L\ z:>+A]C 2PSz4 cM1~:ffp|0}LD0?gwOrb4(|ZLr]&;9A9!O*zhX:av*7a=f]EY,t8!hZjUp("x 64NdWnOp00?O>(ps+YTw&i92Kka"g!#[,q){lNxJ8^d@Zgv]7mk\eXf'~p5~\;f9eNl _uUn;f~"g`$o6]r hMe2O/G 7w]nv/elW9 09051284 VAT: NL Retail Banker International Asia Trailblazer Summit and Awards, Private Banker International Summit and Awards, Saudi Arabia Construction Cost and Outlook report, Bidders submit proposals for major Aramco PPP project, Neom selects Petrojet for water transmission project, Baghdad approves funds for metro and airport projects, Egypt names groups that can bid for desalination contracts, Top 11 UAE organisations with the healthiest workplace, Join our webinar on developing captive power, Join our webinar on delivering energy-efficient buildings, View our webinar on the outlook for the Mena energy sector, Project quality key to driving growth and attracting investment, The costs of main construction materials, equipment, labour and fuel for KSA, Qatar & UAE, Existing cement production and future facilities, Existing rebar production and future distribution facilities in Qatar, The updated Tender Price Index forecast for KSA, Qatar & UAE, Track the actual construction cost for building projects in the UAE, Qatar and Saudi Arabia, Track actual component costs such as concrete, reinforcing steel and otheritems, Forecast into five years of construction costs in the UAE, Qatar and Saudi Arabia, Provide location cost comparison factors for multiple cities, Forecast industry spend across the GCC which affect pricing, Build customised indices relevant to their project, Qatar Construction Cost and Outlook Report 2012, Saudi Arabia Construction Cost and Outlook Report 2012. KSA construction cost benchmarking report Q2 2021 15 July 2021 The latest construction cost benchmarking report for Saudi Arabia is now available for download.