DALLAS, December 16, 2014 /PRNewswire/ --
RnRMarketResearch.com adds Construction in Saudi Arabia - Key Trends and Opportunities to 2018 industry research report of 70 pages profiling 5 major companies and supported with 85 data tables as well as 31 figures.
The Saudi Arabian construction industry output is expected to record a forecast-period CAGR of 10.98%. A rising population, plans to overcome the housing shortage, and efforts to develop the transport network and renewable energy infrastructure will enhance industry growth. The market recorded a compound annual growth rate (CAGR) of 10.06% during the review period (2009-2013). During the review period, growth in the construction industry was supported by the Ninth Five-Year Development Plan implemented for the period 2010-2014. Growth in the tourism sector and investments in the infrastructure and residential markets will support the industry's expansion over the forecast period (2014-2018). Industrial construction will be supported by government focus on diversifying the country's economy. Complete report is available at http://www.rnrmarketresearch.com/construction-in-saudi-arabia-key-trends-and-opportunities-to-2018-market-report.html .
According to the Central Department of Statistics and Information, the Saudi Arabian construction industry's contribution to GDP increased from 4.3% in 2011 to 4.8% in 2013. The industry's value add increased by 8.8%, from SAR87.3 billion (US$23.3 billion) in 2012 to SAR94.9 billion (US$25.3 billion) in 2013 in real terms, whereas it increased by 13.4%, from SAR118.5 billion (US$31.6 billion) in 2012 to SAR134.4 billion (US$35.8 billion) in 2013 in nominal terms. As part of the country's economic goals of diversification and job creation, the government allocated funds for the development of healthcare, infrastructure, education and social services. The government announced a 2014 budget of SAR855.0 billion (US$228.0 billion). Its upcoming 10th five-year development plan for 2015-2019 will focus on economic development and raising living standards through a number of welfare activities.
The country is focusing on developing the tourism sector to reduce its dependence on oil. Projects such as a 20-year National Tourism Development Project (NTDP), approved in 2005, will attract a greater number of tourists - with volume expected to reach 45.3 million by 2025. Investments in the travel and tourism sector are expected to reach SAR33.5 billion (US$8.9 billion) by 2020. In 2014, the Saudi Commission for Tourism and Antiquities (SCTA), announced plans to develop the hospitality and aviation markets, to increase the tourism sector's contribution to the economy.
In 2013, the government passed a new mortgage law to expand the real estate market. The law proposed several changes, including banks and other financial institutes becoming licensed to offer mortgages up to a maximum loan-to-value ratio of 70.0%. Factors such as population growth, gradual lifestyle changes from traditional cultural models, and the easing of restrictions in terms of acquiring loans through development funds will increase demand for housing.
Gulf Cooperation Council (GCC) countries are focusing on developing transport infrastructure with an aim to encourage cross-border trade and reduce congestion as a result of rapid population growth. Saudi Arabia has several railway projects in development: the North-South railway line that connects Riyadh with ports and the mining centers at the Jordanian border, as well as the Landbridge freight link. Such projects are expected to support intra-regional trade and increase the country's export capacity.
In 2012, King Abdullah City for Atomic and Renewable Energy (KA-CARE) announced a plan to install 54.0GW of renewable energy by 2032. The total installation capacity will consist of 16.0GW of solar photovoltaic (PV), 25.0GW of concentrated solar power (CSP), 3.0GW of waste-to-energy, 9.0GW of wind and 1.0GW of geothermal energy. To reduce its reliance on hydrocarbon and to strengthen ties between Saudi Arabia and China, an agreement was signed for the production and peaceful use of nuclear and renewable energy in 2014.
The Saudi Railway Master Plan 2010-2040 (SRMP) aims to provide the conceptual framework for the long-term development of the country's passenger and transport railway network. Under this plan, SAR365 billion (US$97.3 billion) will be invested in the development of the country's railway network by 2040. The plan includes high-priority first-level projects, with an investment of SAR63 billion (US$16.8 billion) for the construction of 5,500km of railway line during 2010-2025. Medium-priority second-level projects, valuing SAR209 billion (US$55.7 billion), include the construction of 3,000km of railway lines during 2026-2033, whereas third-level projects, valuing SAR93 billion (US$24.8 billion), include the construction of 1,400km of railway lines between 2034 and 2040.
Saudi Arabian Construction Companies profiled in this 2014-2018 market research report include Dar Al Arkan Real Estate Development Company, Saudi Binladin Group, Abdullah AM Al Khodari Sons Company, El Seif Engineering Contracting Company and Mohammad Al-Mojil Group. Order a copy of this research at http://www.rnrmarketresearch.com/contacts/purchase?rname=249775 .
This report provides detailed market analysis, information and insights into the Saudi Arabian construction industry including: Saudi Arabian construction industry's growth prospects by market, project type and type of construction activity, Analysis of equipment, material and service costs for each project type in Saudi Arabia, Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Saudi Arabian construction industry, Profiles of the leading operators in the Saudi Arabian construction industry and Data highlights of the largest construction projects in Saudi Arabia.
This report provides a comprehensive analysis of the construction industry in Saudi Arabia. It provides:
- Historical (2009-2013) and forecast (2014-2018) valuations of the construction industry in Saudi Arabia using construction output and value-add methods
- Segmentation by sector (commercial, industrial, infrastructure, institutional and residential) and by project type
- Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)
- Analysis of key construction industry issues, including regulation, cost management, funding and pricing
- Detailed profiles of the leading construction companies in Saudi Arabia
Explore more reports on the construction industry at http://www.rnrmarketresearch.com/reports/manufacturing-construction/construction .
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