Saudi and UAE lead Arab construction sector to $187bn

The AMF said that the Arab construction sector has recovered from the impacts of the Covid-19 pandemic, with its contribution to GDP in 2021 amounting to around $186.8bn, up from $178.3 billion in 2020.

It represents a 4.7% increase.

UAE and Saudi construction

The Saudi and UAE construction sectors contributed the most to their countries’ GDPs, with around $45.5bn and $36.8bn, respectively, the AMF added in a recent report.

Egypt ranked third with around $27.3bn, followed by Qatar, $24.1bn, Algeria, $19.8bn, Morocco, $7.7bn, and Oman with $6.4bn, according to the report.

Construction output ranged from $1bn to $6bn in Iraq, Kuwait, Bahrain, Sudan, Libya, and Jordan, while it contributed less than one billion dollars to the GDPs of other Arab countries.

Earlier this month Arabian Business reported how Saudi Arabia’s construction industry continues to lead the MENA region despite macroeconomic conditions impacting the sector globally, according to JLL’s Q4 2022 KSA Construction Market Intelligence Report.

Saudi Arabia witnessed the highest value of project awards in 2022, demonstrating its commitment to driving economic diversification and transforming the country in line with its Vision 2030.