Central Banks
Saudi Arabia Set to Become World’s Biggest Construction Market
- Construction market to reach $181.5 billion, Knight Frank says
- Kingdom has launched more than $1.25 trillion in projects
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Saudi Arabia is set to become the world’s largest construction market as the kingdom pours vast amounts of money into projects aimed at overhauling and diversifying the economy, according to real estate consultancy group Knight Frank.
The country’s total construction output value is forecast to reach $181.5 billion by the end of 2028, up almost 30% from 2023 levels, the London-based firm said in a research report published Monday.