Saudi Arabia Project Outlook
Saudi Arabia’s population will grow by 12% to 40 million by 2031 from the current 36 million. This growth in population will increase demand for basic infrastructure. A significant investment in infrastructure is underway, driven by its vision to diversify away from its oil dependence. As a result, there are projects in Saudi Arabia worth over US$1.6 trillion. As per ABiQ, there are multiple projects in the construction, water, energy, and oil & gas sectors in Saudi Arabia.
Construction Projects in Saudi Arabia
Construction is the largest sector with active projects worth roughly over $1.2 trillion. The construction market in Saudi Arabia looks promising as the government continues to focus on developing new infrastructure to meet the demand of a growing population.
Water Projects in Saudi Arabia
Being an arid country, Saudi Arabia is investing heavily in its water infrastructure. There are more than $5.5 billion of water projects currently under construction. Saudi Arabia has adopted Public-Private-Partnerships as a procurement strategy, with 70% of its water processing infrastructure projects procured on this basis.
Energy & Power Projects in Saudi Arabia
As the largest producer and exporter of oil, Saudi Arabia has traditionally relied on fossil fuels to meet its power demand. With a new generation at the helm, the Kingdom has announced an ambitious renewable energy program.
Saudi Arabia has more than $140 billion of active power projects with its renewable and nuclear program accounting for most of this. A diverse range of wind, solar and waste to energy projects included in the mix. ABiQ estimates that the Saudi power sector will see cash flows on power projects totaling $1.2 billion during 2021 and will increase to almost $4 billion in 2022.
Of the $140 billion, $65 billion of projects are already under construction. The largest developer is the Renewable Energy Project Development Office, with 45% of the market share.
Oil & Gas Projects in Saudi Arabia
Saudi Aramco, the world’s largest oil producer, accounts for 99% of the active oil and gas projects in the kingdom. There are currently more than $200 billion of active oil and gas projects. More than a third of this total is already in the construction phase with two thirds still on the drawing board. Aramco will spend on average $800 million per month over the next 12 months peaking in November 2021 at more than $1,100 million.
Get in touch with us to find more about these projects.
How can ABiQ help?
ABiQ can help you with your growth plans for the MEA region. With our unique networking tool, you can:
- Track projects in Africa, UAE, and Saudi Arabia worth over $4 Trillion
- Access over a million companies in Africa and the Middle East
- Access Company shareholders, subsidiaries, and detailed contact information
- Connect with decision-makers and grow your business in Africa and the Middle East
- Drive your growth strategy across all 54 African countries
Frequently Asked Questions
Here are some frequently asked questions about ABiQ.
What is ABiQ?
ABiQ stands for African Business Intelligence. We are the leading business intelligence platform that tracks ongoing and upcoming projects in Africa.
Which industries do you cover?
We cover multiple industries, including Government, Energy, Oil & Gas, Agriculture, Construction, Water, Healthcare, Financial Services, and many others.
How do you get your data?
We have an experienced team of on-the-ground researchers located across Africa. They conduct primary and secondary research to provide ABiQ with up to date and validated data on African projects. We then verify all data before adding it to our platform. We follow a rigorous methodology of data gathering to grow and maintain our content.
How is ABiQ different from other platforms?
ABiQ is the only platform that offers validated data and trusted intelligence on all 54 countries in Africa. We have over a million companies in our directory and opportunities worth trillions of US Dollars.
Is it a free service?
No, this is a paid subscription service. Get in touch, and we can suggest the package that suits you the best based on your requirement.
Can I get a trial?