KSA was the strongest performer across the GCC in terms of the total value of construction project awards by year-end 2020.
In 2021 the industry is showing signs of recovery with a busy project tender market generated from the Vision 2030 program. The KSA construction market is anticipated to grow by 2.9% in 2021. Oil prices (Brent & WTI) have continued to gain this year with forecasts in September at $69-$66/bl2 for Q4 2021.
Read our KSA Construction Cost Insight Report to find out more.