Given the importance of the sector, “Mashroo3k” presents below the key indicators for the construction and building sector in the Gulf Cooperation Council (GCC) countries:
Saudi Arabia:
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The GDP of the construction and building sector in Saudi Arabia amounts to 168,750 million SAR.
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The sector contributes 4.66% to the national GDP.
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The number of companies operating in the sector is 148,026.
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The sector employs 3,541,977 individuals.
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The value of projects executed in the sector, according to the latest statistics, is 311,563,369 thousand SAR.
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Saudi Arabia holds the leading regional position as the largest construction market, with an annual market value exceeding $100 billion USD.
United Arab Emirates (UAE):
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The GDP of the construction and building sector is 123,953 million AED.
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The sector contributes 8.3% to the national GDP.
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The number of companies operating in the sector is 42,428.
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The sector employs 1,564,095 individuals across the UAE.
Kingdom of Bahrain:
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The GDP of the construction and building sector is 936.79 million BHD.
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The sector contributes 7.70% to the national GDP.
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In 2016, the sector’s value did not exceed 857 million BHD, but in just a few years, it grew to 945.51 million BHD.
Sultanate of Oman:
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The GDP of the sector amounts to 1,943 million OMR.
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The sector contributes 6.7% to the national GDP.
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The sector employs 548,999 individuals.
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The construction and building sector accounts for 22.4% of Omani employees in both private and public sectors.
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It also represents 29.6% of the total expatriate workforce in Oman.
Kuwait:
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The GDP of the construction and building sector is 838.9 million KWD.
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The sector contributes 2.14% to the national GDP.
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The number of companies operating in the sector is 1,502.
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The sector employs 187,705 individuals.
Qatar:
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The GDP of the construction and building sector is 81,215 million QAR.
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The sector contributes 12.1% to the national GDP.
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The number of companies operating in the sector is 5,629.
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The sector employs 840,999 individuals.
The construction and building sector accounts for more than 40% of the economically active population. It is considered a promising sector, making investment in its activities highly profitable. With population growth and infrastructure development, the sector is expected to remain a key investment destination.
Experts anticipate that the construction market will grow by 4.2% over the next three years, with its total value projected to reach $10.5 trillion by 2023.
Global Construction and Building Sector:
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In 2020, the estimated global construction output was approximately $10.7 trillion USD.
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It is expected to grow by 42% ($4.5 trillion USD) between 2020 and 2030, reaching a total of $15.2 trillion USD by the end of the decade.