Saudi Arabia, one of the most influential countries in the Middle East is also the largest GCC (Gulf Cooperation Council) country. The country is typically known for its oil-based economy, but currently, the authority is focusing on diversifying its economy to boost financial performance and secure growth. Due to this reason, we are noticing huge investments in various industries like hospitality, transportation, banking, education, retail, etc. Massive capital spending on Saudi Arabia’s construction and infrastructure sector is also the result of the same vision.
According to a recent report, Saudi Arabian construction market is predicted to secure a CAGR (Compound Annual Growth Rate) of 5.2% during the period between 2021 to 2026. In this post, we will look after those factors that have triggered this growth, and after that, we will discuss how you can make the most out of this growth.
Factors That Are Triggering the Growth
Here’s a quick list of the two most important factors that are triggering the growth in the Saudi Arabian construction industry:
How Can You Leverage This Growth for Your Profit?
Growth in Saudi Arabian construction industry means every player operating in this sector has an open window of opportunity to grow sales and flourish with the flow. But please note that this opportunity is not restricted only to you, as your peers can still outdo you unless you have a competitive advantage. Subscribing to PROJECT INTEL can help you gain this advantage. It is a real-time construction data analysis platform offering comprehensive Saudi Arabia construction intelligence solutions. Using this tool, you can:
- Track more than 5000 projects in the country that are collectively worth over $764 Bn.
- Analyse the mega-project pipeline
- Always keep an eye on the industry
- Segment companies by sector etc.
PROJECT INTEL is the leading Saudi Arabia construction industry analysis tool that can provide a competitive edge, and empower you to outperform your competitors. Using this market analysis software, you can generate more qualified leads, skyrocket sales, predict risks before they appear, and save your business from potential threats. Register for a FREE TRIAL now to see how PROJECT INTEL can help you grow.