{"id":764,"date":"2023-11-14T11:49:47","date_gmt":"2023-11-14T09:49:47","guid":{"rendered":"https:\/\/liftcityexpo.com\/sa\/?page_id=764"},"modified":"2025-01-14T12:42:34","modified_gmt":"2025-01-14T10:42:34","slug":"market-overview","status":"publish","type":"page","link":"https:\/\/liftcityexpo.com\/sa\/market-overview\/","title":{"rendered":"Market Overview"},"content":{"rendered":"\n    \n    <section class=\"skrollable u-clearfix u-image u-parallax u-shading u-section-2\" id=\"sec-9e43\" data-image-width=\"1140\" data-image-height=\"438\" style=\"background-image: linear-gradient(0deg, rgba(0, 0, 0, 0.45), rgba(0, 0, 0, 0.45)), url(&quot;https:\/\/liftcityexpo.com\/sa\/wp-content\/uploads\/2023\/11\/r.jpg&quot;);\">\n      <div class=\"u-clearfix u-sheet u-valign-middle u-sheet-1\">\n        <p class=\"u-align-center u-custom-font u-font-montserrat u-text u-text-1\" data-animation-name=\"\" data-animation-duration=\"0\" data-animation-delay=\"0\" data-animation-direction=\"\"><b> Market Overview<\/b>\n        <\/p>\n      <\/div>\n    <\/section>\n    <section class=\"u-clearfix u-gradient u-section-3\" id=\"sec-ba94\">\n      <div class=\"u-clearfix u-sheet u-valign-middle-xl u-sheet-1\">\n        <h1 class=\"u-align-left u-custom-font u-font-montserrat u-text u-text-grey-75 u-text-1\">access the <span class=\"u-text-palette-3-base\">3<\/span> largest project markets in the mena region\n        <\/h1>\n        <p class=\"u-align-left-lg u-align-left-md u-align-left-xl u-custom-font u-font-montserrat u-text u-text-2\"><b>The total estimated value\nof projects in the MENA region amounted to $3 trillion<\/b>\n        <\/p>\n        <p class=\"u-align-left u-custom-font u-font-montserrat u-text u-text-3\"> The total estimated value\nof projects in the MENA region amounted to $3 trillion, with the Kingdom\naccounting for the largest share at about 35%, or nearly $1.7trillion. Egypt\nand the UAE share amounted to $500 billion each.<\/p>\n        <p class=\"u-align-left u-text u-text-4\"> Source: Saudi Projects<\/p>\n        <div class=\"data-layout-selected u-clearfix u-expanded-width u-gutter-24 u-layout-custom-sm u-layout-custom-xs u-layout-wrap u-layout-wrap-1\">\n          <div class=\"u-layout\">\n            <div class=\"u-layout-row\">\n              <div class=\"u-align-center-sm u-container-align-center-sm u-container-align-left-xs u-container-style u-layout-cell u-size-20-lg u-size-20-md u-size-20-sm u-size-20-xl u-size-60-xs u-layout-cell-1\">\n                <div class=\"u-container-layout u-container-layout-1\">\n                  <img decoding=\"async\" class=\"u-align-center-xs u-align-left-lg u-align-left-md u-align-left-sm u-align-left-xl u-image u-image-contain u-image-round u-preserve-proportions u-radius-5 u-image-1\" src=\"https:\/\/liftcityexpo.com\/sa\/wp-content\/uploads\/2023\/11\/9967daf18147398d89f4fde634f9d4404c60646abb4453cb9dcd300329afc1ad7e2037a0f304db97aa6be197300dbe6eacbf498ce6c1aedc2b3f17_1280-1.png\" alt=\"\" data-image-width=\"150\" data-image-height=\"99\">\n                  <h2 class=\"u-align-center-lg u-align-center-md u-align-center-xl u-align-left-xs u-custom-font u-font-montserrat u-text u-text-custom-color-4 u-text-default-lg u-text-default-md u-text-default-xl u-text-5\">saudi arabia<\/h2>\n                  <p class=\"u-align-justify-lg u-align-justify-md u-align-justify-xl u-align-justify-xs u-custom-font u-font-montserrat u-text u-text-default u-text-6\"><b>I<span style=\"font-weight: 400;\">n January 2023, there were $298 billion in real\nestate projects under construction. By the end of 2023, and expected for the\nSaudi real estate construction market to grow by 9% to a total of $324 billion.&nbsp;<\/span><\/b>This total includes completing $18 billion of real estate projects in 2023. With an ambitious array of giga and mega projects regularly announced across the Kingdom, the construction industry globally is tasked to dramatically scale the production and distribution of products across all project stages to meet this tremendous demand. <br>\n                    <br>Source: ABIQ\n                  <\/p>\n                <\/div>\n              <\/div>\n              <div class=\"u-align-center-sm u-container-align-center-sm u-container-align-left-xs u-container-style u-layout-cell u-size-20-lg u-size-20-md u-size-20-sm u-size-20-xl u-size-60-xs u-layout-cell-2\">\n                <div class=\"u-container-layout u-valign-top-sm u-valign-top-xs u-container-layout-2\">\n                  <img decoding=\"async\" class=\"u-align-center u-image u-image-round u-preserve-proportions u-radius-5 u-image-2\" src=\"https:\/\/liftcityexpo.com\/sa\/wp-content\/uploads\/2023\/11\/g81bedce03864eb95a50158b9d978d2b98755b07c3276c697bf8865cf47307e41ba1fb752319edd701d1929d86820240c_1280-1.png\" alt=\"\" data-image-width=\"150\" data-image-height=\"99\">\n                  <h2 class=\"u-align-center-sm u-align-left-lg u-align-left-md u-align-left-xl u-align-left-xs u-custom-font u-font-montserrat u-text u-text-custom-color-4 u-text-default-lg u-text-default-md u-text-default-xl u-text-7\">uae<\/h2>\n                  <p class=\"u-align-center-sm u-align-justify-lg u-align-justify-md u-align-justify-xl u-align-justify-xs u-custom-font u-font-montserrat u-text u-text-default u-text-8\">\n                    <span style=\"font-weight: 700;\">\n                      <span style=\"font-weight: 700;\"><\/span><b>\n                        <span style=\"font-weight: 400;\">The medium to long-term growth story in United Arab\nEmirates remains intact. The prefabricated construction industry in United Arab\nEmirates is expected to grow steadily over the next four quarters.<\/span>&nbsp;<\/b>\n                      <span style=\"font-weight: 400;\">The growth momentum is expected to continue over the forecast period, recording a CAGR of 8.7% during 2023-2027. The prefabricated construction output in the country is expected to reach AED 33,252.3 million by 2027. <\/span>\n                    <\/span>\n                    <br>\n                    <br>Source: ConsTrack360<br>\n                  <\/p>\n                <\/div>\n              <\/div>\n              <div class=\"u-align-center-sm u-container-align-center-sm u-container-align-left-xs u-container-style u-layout-cell u-size-20-lg u-size-20-md u-size-20-sm u-size-20-xl u-size-60-xs u-layout-cell-3\">\n                <div class=\"u-container-layout u-valign-top-sm u-valign-top-xs u-container-layout-3\">\n                  <img decoding=\"async\" class=\"u-align-center u-image u-image-round u-radius-5 u-image-3\" src=\"https:\/\/liftcityexpo.com\/sa\/wp-content\/uploads\/2023\/11\/39d5e3282810d497318dce63dcd42ee2b0110d45a89cc6e93a76287684465890505b10f77f897f93d1cc0b03e6c53d4434a5f5eac03b460e017143_1280-1.png\" alt=\"\" data-image-width=\"1280\" data-image-height=\"854\">\n                  <h2 class=\"u-align-center-sm u-align-left-lg u-align-left-md u-align-left-xl u-align-left-xs u-custom-font u-font-montserrat u-text u-text-custom-color-4 u-text-default-lg u-text-default-md u-text-default-xl u-text-9\">egypt<\/h2>\n                  <p class=\"u-align-center-sm u-align-justify-lg u-align-justify-md u-align-justify-xl u-align-justify-xs u-custom-font u-font-montserrat u-text u-text-default u-text-10\">\n                    <span style=\"font-weight: 400;\"><b>\n                        <span style=\"font-weight: 400;\">Egypt leads the project market with over 300 active\nprojects worth $338 billion. With active projects worth around $207 billion,\nSouth Africa comes second, followed by Nigeria <\/span><\/b>, which has ongoing and upcoming Africa projects worth $200 billion. \n                    <\/span>\n                    <br>\n                    <br>\n                    <span style=\"font-weight: 400;\">Source: ABIQ<\/span>\n                  <\/p>\n                <\/div>\n              <\/div>\n            <\/div>\n          <\/div>\n        <\/div>\n      <\/div>\n    <\/section>\n    <section class=\"u-clearfix u-grey-5 u-section-4\" id=\"sec-32fe\">\n      <div class=\"u-clearfix u-sheet u-sheet-1\">\n        <div class=\"data-layout-selected u-clearfix u-expanded-width u-gutter-18 u-layout-wrap u-layout-wrap-1\">\n          <div class=\"u-layout\">\n            <div class=\"u-layout-row\">\n              <div class=\"u-container-style u-layout-cell u-size-35-xl u-size-37-lg u-size-60-md u-size-60-sm u-size-60-xs u-layout-cell-1\">\n                <div class=\"u-container-layout u-container-layout-1\">\n                  <p class=\"u-align-justify u-custom-font u-font-montserrat u-text u-text-1\">\n                    <span style=\"font-weight: 700;\">Saudi Arabia, the UAE, and Egypt collectively contributed to approximately 67% of total construction project awards in the region for the first half of the year, with the Kingdom leading the way with projects totaling \u00a344 billion. This has helped to drive the MENA region\u2019s construction sector to record over $101 billion in new project wins, according to analysis from real estate services firm JLL. <\/span>\n                    <br>\n                    <br>\n                    <br>The total estimated value of projects in the MENA region amounted to $3 trillion, with the Kingdom accounting for the largest share at about 35%, or nearly $1.7 trillion. Egypt and the UAE share amounted to $500 billion each. <br>\n                  <\/p>\n                <\/div>\n              <\/div>\n              <div class=\"u-container-align-center u-container-style u-image u-layout-cell u-size-23-lg u-size-25-xl u-size-60-md u-size-60-sm u-size-60-xs u-image-1\" data-image-width=\"736\" data-image-height=\"463\" style=\"background-image: url(&quot;https:\/\/liftcityexpo.com\/sa\/wp-content\/uploads\/2023\/11\/cac9c28a647394d9b014b0235e9ef281.jpg&quot;);\">\n                <div class=\"u-container-layout u-container-layout-2\"><\/div>\n              <\/div>\n            <\/div>\n          <\/div>\n        <\/div>\n        <p class=\"u-align-justify u-custom-font u-font-montserrat u-text u-text-2\">\n          <span style=\"font-weight: 700;\">The total estimated value of projects in the MENA region amounted to $3 trillion <\/span>\n          <br>\n          <br>The Kingdom awarded construction contracts to the residential sector worth $5 billion during H1 2023, while entertainment projects reached $2 billion, with the report noting that the construction market in Saudi Arabia is expected to grow at an average annual rate of 4% between 2024 and 2027, driven by economic diversification efforts in line with Vision 2030. <br>\n          <br>Saudi Arabia\u2019s growth and transformation are emblematic of its strategic positioning in the global landscape. Through economic diversification, social reforms, and expanding international influence, the Kingdom is working to secure its future in an ever-changing world. <br>\n          <br>source: Saudi Projects\n        <\/p>\n      <\/div>\n    <\/section>\n    <section class=\"u-clearfix u-section-5\" id=\"sec-8040\">\n      <div class=\"u-clearfix u-sheet u-sheet-1\">\n        <p class=\"u-custom-font u-font-montserrat u-text u-text-grey-75 u-text-1\"> Saudi Arabia giga-Projects is booming the future of the region...<\/p>\n        <img decoding=\"async\" class=\"u-expanded-width u-image u-image-default u-image-1\" src=\"https:\/\/liftcityexpo.com\/sa\/wp-content\/uploads\/2023\/11\/r-1.jpg\" alt=\"\" data-image-width=\"1170\" data-image-height=\"450\">\n        <p class=\"u-align-left u-custom-font u-font-montserrat u-text u-text-grey-75 u-text-2\"> The IMF Forecasts the Kingdom\u2019s GDP to Grow at 7.6%, the Highest such rate Globally...<\/p>\n        <p class=\"u-custom-font u-font-montserrat u-text u-text-3\"> Saudi Arabia\u2019s construction sector has recorded its highest growth in 2022 by 8.8% The Construction Sector GDP amounted to about US$ 182.2 billion.<\/p>\n        <p class=\"u-custom-font u-font-montserrat u-text u-text-4\"> Saudi Arabia\u2019s giga-sized projects cover 15\nprovinces.<\/p>\n      <\/div>\n    <\/section>\n    <section class=\"u-clearfix u-section-6\" id=\"sec-e56b\">\n      <div class=\"u-clearfix u-sheet u-sheet-1\">\n        <div class=\"u-expanded-width u-list u-list-1\">\n          <div class=\"u-repeater u-repeater-1\">\n            <div class=\"u-container-align-center u-container-style u-image u-image-round u-list-item u-radius-5 u-repeater-item u-image-1\" data-image-width=\"800\" data-image-height=\"1000\" style=\"background-image: url(&quot;https:\/\/liftcityexpo.com\/sa\/wp-content\/uploads\/2023\/11\/10-1.jpg&quot;);\">\n              <div class=\"u-container-layout u-similar-container u-container-layout-1\"><\/div>\n            <\/div>\n            <div class=\"u-container-style u-image u-image-round u-list-item u-radius-5 u-repeater-item u-image-2\" data-image-width=\"800\" data-image-height=\"1000\" style=\"background-image: url(&quot;https:\/\/liftcityexpo.com\/sa\/wp-content\/uploads\/2023\/11\/1-1.jpg&quot;);\">\n              <div class=\"u-container-layout u-similar-container u-container-layout-2\"><\/div>\n            <\/div>\n            <div class=\"u-container-style u-image u-image-round u-list-item u-radius-5 u-repeater-item u-image-3\" data-image-width=\"800\" data-image-height=\"1000\" style=\"background-image: url(&quot;https:\/\/liftcityexpo.com\/sa\/wp-content\/uploads\/2023\/11\/2-2.jpg&quot;);\">\n              <div class=\"u-container-layout u-similar-container u-container-layout-3\"><\/div>\n            <\/div>\n            <div class=\"u-container-style u-image u-image-round u-list-item u-radius-5 u-repeater-item u-image-4\" data-image-width=\"800\" data-image-height=\"1000\" style=\"background-image: url(&quot;https:\/\/liftcityexpo.com\/sa\/wp-content\/uploads\/2023\/11\/3-2.jpg&quot;);\">\n              <div class=\"u-container-layout u-similar-container u-container-layout-4\"><\/div>\n            <\/div>\n            <div class=\"u-container-style u-image u-image-round u-list-item u-radius-5 u-repeater-item u-image-5\" data-image-width=\"800\" data-image-height=\"1000\" style=\"background-image: url(&quot;https:\/\/liftcityexpo.com\/sa\/wp-content\/uploads\/2023\/11\/4-2.jpg&quot;);\">\n              <div class=\"u-container-layout u-similar-container u-container-layout-5\"><\/div>\n            <\/div>\n            <div class=\"u-container-style u-image u-image-round u-list-item u-radius-5 u-repeater-item u-image-6\" data-image-width=\"800\" data-image-height=\"1000\" style=\"background-image: url(&quot;https:\/\/liftcityexpo.com\/sa\/wp-content\/uploads\/2023\/11\/5-2.jpg&quot;);\">\n              <div class=\"u-container-layout u-similar-container u-container-layout-6\"><\/div>\n            <\/div>\n            <div class=\"u-container-style u-image u-image-round u-list-item u-radius-5 u-repeater-item u-image-7\" data-image-width=\"800\" data-image-height=\"1000\" style=\"background-image: url(&quot;https:\/\/liftcityexpo.com\/sa\/wp-content\/uploads\/2023\/11\/6-2.jpg&quot;);\">\n              <div class=\"u-container-layout u-similar-container u-container-layout-7\"><\/div>\n            <\/div>\n            <div class=\"u-container-style u-image u-image-round u-list-item u-radius-5 u-repeater-item u-image-8\" data-image-width=\"800\" data-image-height=\"1000\" style=\"background-image: url(&quot;https:\/\/liftcityexpo.com\/sa\/wp-content\/uploads\/2023\/11\/7-2.jpg&quot;);\">\n              <div class=\"u-container-layout u-similar-container u-container-layout-8\"><\/div>\n            <\/div>\n            <div class=\"u-container-style u-image u-image-round u-list-item u-radius-5 u-repeater-item u-image-9\" data-image-width=\"800\" data-image-height=\"1000\" style=\"background-image: url(&quot;https:\/\/liftcityexpo.com\/sa\/wp-content\/uploads\/2023\/11\/8-2.jpg&quot;);\">\n              <div class=\"u-container-layout u-similar-container u-container-layout-9\"><\/div>\n            <\/div>\n            <div class=\"u-container-style u-image u-image-round u-list-item u-radius-5 u-repeater-item u-image-10\" data-image-width=\"800\" data-image-height=\"1000\" style=\"background-image: url(&quot;https:\/\/liftcityexpo.com\/sa\/wp-content\/uploads\/2023\/11\/9-2.jpg&quot;);\">\n              <div class=\"u-container-layout u-similar-container u-container-layout-10\"><\/div>\n            <\/div>\n          <\/div>\n        <\/div>\n        <p class=\"u-custom-font u-font-montserrat u-text u-text-default-xl u-text-1\">Industry Value ($M)<\/p>\n        <div class=\"u-expanded-width u-list u-list-2\">\n          <div class=\"u-repeater u-repeater-2\">\n            <div class=\"u-container-align-center u-container-style u-image u-image-round u-list-item u-radius-5 u-repeater-item u-image-11\" data-image-width=\"1000\" data-image-height=\"222\" style=\"background-image: url(&quot;https:\/\/liftcityexpo.com\/sa\/wp-content\/uploads\/2023\/11\/12-1.jpg&quot;);\">\n              <div class=\"u-container-layout u-similar-container u-container-layout-11\"><\/div>\n            <\/div>\n            <div class=\"u-container-style u-image u-image-round u-list-item u-radius-5 u-repeater-item u-image-12\" data-image-width=\"1000\" data-image-height=\"222\" style=\"background-image: url(&quot;https:\/\/liftcityexpo.com\/sa\/wp-content\/uploads\/2023\/11\/21-1.jpg&quot;);\">\n              <div class=\"u-container-layout u-similar-container u-container-layout-12\"><\/div>\n            <\/div>\n          <\/div>\n        <\/div>\n      <\/div>\n    <\/section>\n    \n    \n    \n  \n","protected":false},"excerpt":{"rendered":"<p>Market Overview access the 3 largest project markets in the mena region The total estimated value of projects in the MENA region amounted to $3 trillion The total estimated value of projects in the MENA region amounted to $3 trillion, with the Kingdom accounting for the largest share at about 35%, or nearly $1.7trillion. Egypt &hellip; <a href=\"https:\/\/liftcityexpo.com\/sa\/market-overview\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Market Overview&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":4,"comment_status":"closed","ping_status":"closed","template":"","meta":{"om_disable_all_campaigns":false,"footnotes":""},"class_list":["post-764","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Market Overview - Lift City Expo Riyadh<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/liftcityexpo.com\/sa\/market-overview\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Overview - Lift City Expo Riyadh\" \/>\n<meta property=\"og:description\" content=\"Market Overview access the 3 largest project markets in the mena region The total estimated value of projects in the MENA region amounted to $3 trillion The total estimated value of projects in the MENA region amounted to $3 trillion, with the Kingdom accounting for the largest share at about 35%, or nearly $1.7trillion. 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