JLL said that Saudi Arabia accounted for $44 billion, followed by the United Arab Emirates (UAE) at $23 billion. JLL explained that Saudi Arabia's share of these contracts amounted to 44 billion dollars, followed by the United Arab Emirates 23 billion dollars, indicating that both markets recorded an increase in the value of projects awarded compared to the same period last year.
The total estimated value of the project pipeline in the MENA region reached $3 trillion, with Saudi Arabia accounting for the largest share at 35%, estimated at $1.3 trillion, while Egypt and the UAE accounted for $500 billion each.
She pointed out that the total estimated value of the project pipeline in the MENA region reached $3 trillion, with Saudi Arabia accounting for the largest share at $35%, estimated at $1.3 trillion. <Saudi Arabia awarded $5 billion worth of construction contracts in the residential sector during the first half of this year, while the value of contracts for entertainment projects in the Kingdom amounted to $2 billion. On the other hand, the value of Saudi Arabia's construction market is expected to grow at an average annual rate of 4% between 2024 and 2027, driven by the relentless economic diversification efforts that are an integral part of the Saudi Vision 2030 targets.
Saudi Arabia's construction market is expected to grow at an average annual rate of 4% between 2024 and 2027.
