Research Report On: MEED Insights Saudi Arabia Projects, H2 2018 | Page 2

Summary:
With more than $1.4tn worth of major projects planned or underway, Saudi Arabia is the biggest
projects market in the region, accounting for almost half of the entire GCC projects market. Driven by
rapid population growth and surging demand for all kinds of goods and services, ranging from consumer
products, to electricity and healthcare services, to infrastructure, the kingdom’s projects sector is nearly
double the size of the region’s next biggest projects market, the UAE.
Despite its size however, Saudi Arabia has over the past three years proved to be an extremely
challenging place in which to do business as Riyadh has slashed spending in order to get its finances in
order following the crash in oil prices from June 2014 to January 2016. Business in the kingdom has
faced major disruption as the country rolls out social and economic reforms.
But has turned a corner in 2018. The recovery in oil prices accompanied by the launch of a series of
megaprojects, including the $500bn Neom future city project, marks a new era for the Saudi economy
under King Salman bin Abdulaziz al-Saud. One that promises wonderful investment and business
opportunities. But one that also introduces significant changes to the Saudi market.
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We are seeing significant changes to the direction of projects in the kingdom. Saudi Aramco has shifted
its focus on to downstream integration and petrochemicals. While the Public Investment Fund has
emerged as the new powerhouse project sponsor driving construction projects. And new legislation is
set to boost plans for public private partnerships (PPP) in the kingdom.
Written by MEED, the Middle East market experts within the GlobalData Group, the world’s leading
authority on business in the Middle East. It provides a comprehensive and up-to-date analysis of the
Saudi projects market. Covering the core sectors of the economy including oil & gas, petrochemicals,
power, construction, water, manufacturing and transport. It is a powerful resource for anyone seeking
to identify opportunities, understand risks and set strategy in Saudi Arabia’s projects market.
Reasons to buy:
- Opportunities and challenges in the kingdom’s projects market
- Analysis of the pipeline of planned projects and contract awards 2018-2022
- Key policies and drivers shaping the outlook for projects in Saudi Arabia
- Political and economic background
- The barriers and challenges that may arise
- Sector-by-sector breakdown of future project plans