Saudi Arabia Construction Sector Opportunities

The construction market in Saudi Arabia has emerged as a leader in the Middle East and North Africa with an estimated size of USD 70.33 billion in 2024, projected to reach USD 91.36 billion by 2029. This growth is attributed to Saudi Arabia’s Vision 2030 National Development Plan, reflecting the government’s substantial investments in infrastructure development.

The sector is backed by the Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, which plays a critical role through serving as a financier and sponsor for major giga-projects like Neom, a US$500 billion futuristic city; Red Sea Global, a US$ 23.6 billion sustainability-focused luxury tourism project encompassing Saudi Arabia’s Red Sea Coast, and Qiddiya, a US$ 9.8 billion entertainment and leisure city, among others.

The sector is categorized into residential, commercial, industrial, infrastructure (transportation), and energy and utility construction, presenting a sizeable market for U.S. exports of goods and services. Opportunities encompass master and urban planning, interior and exterior municipal project design, as well as project management, and construction in areas such as airports, ports, mixed-use and recreational complexes, tourism, healthcare, and educational facilities.

The Saudi government and giga-projects are actively seeking cutting-edge technologies within the construction sector. This includes advanced solutions such as 3D printing, modular and prefabricated construction, Building Information Modelling (BIM) software, mobile technology, Internet of Things (IoT), smart devices, as well as virtual, augmented, and mixed reality applications. Additionally, there is a focus on incorporating advanced construction materials and resources into these initiatives. These create significant business opportunities for U.S. companies.

For more information, please contact Anwar Shaqhan, Senior Commercial Specialist at Anwar.Shaqhan@trade.gov