Saudi Arabia and UAE Drive Arab Construction Sector to a Record $187 Billion

The construction sector in the Arab world has seen tremendous growth in recent years, and the two leading countries driving this growth are Saudi Arabia and the United Arab Emirates (UAE). These two countries have combined to lead the Arab construction sector to a value of $187 billion.

Saudi Arabia has been investing heavily in its infrastructure, with a focus on transportation, healthcare, and energy. The country is home to several mega-projects, including the expansion of the Grand Mosque in Mecca and the development of a new financial district in Riyadh. These projects, along with numerous others, have fueled the growth of the construction sector in Saudi Arabia and helped the country to become one of the largest construction markets in the world.

The UAE has also been making significant investments in its infrastructure, with a focus on tourism and real estate. Dubai has been the main driver of this growth, with the development of several iconic projects, including the Burj Khalifa, the world's tallest building, and the Palm Jumeirah, a man-made island in the shape of a palm tree. These projects, along with numerous others, have helped the UAE to become one of the leading tourist destinations in the world, and a hub for international business and commerce.

Both Saudi Arabia and the UAE have been investing heavily in renewable energy, with a focus on solar and wind power. This investment has not only helped to diversify their energy portfolios, but it has also created new opportunities for the construction sector, as the development of renewable energy projects requires the construction of new facilities and infrastructure.

The growth of the construction sector in Saudi Arabia and the UAE has had a positive impact on the economies of both countries, creating new jobs and driving economic growth. Additionally, this growth has helped to attract international investment, as investors are drawn to the opportunities created by the growth of the construction sector.

Source:

ArabianBusiness (2022) "Saudi and UAE lead Arab construction sector to $187bn" Available at: https://www.arabianbusiness.com/industries/construction/saudi-and-uae-lead-arab-construction-sector-to-187bn