中东和北非建筑市场报告2023年H1-英-28页_8mb

1. MENA Overview

   • Economic Challenges: Faced global pressures like inflation, rising interest rates, and trade recovery issues.
   • Real Estate Resilience:
     • Residential market saw significant growth, with Cairo (+38%) and Dubai (+17%) leading price increases.
     • Rentals also rose, particularly Dubai (+23%) and Cairo (+18%).
   • FDI & Sustainability:
     • UAE (AED 84 billion) and Saudi Arabia (USD 7.8 billion) recorded high FDI inflows.
     • COP28 (2023) highlights sustainability, with the construction sector targeting 43% carbon reduction by 2030.

2. Construction Growth (2024-2027)

   • UAE: 9% AAGR, driven by infrastructure and real estate investments. Dubai’s construction index hit a four-year high.
   • Saudi Arabia: 4% AAGR via Vision 2030, focusing on diversification and large-scale projects like Jeddah Central and NEOM.
   • Egypt: 3% AAGR amidst economic challenges, but with significant residential project awards in H1 2023.

3. Projects Market

   • Q1–Q2 2023:
     • Total project awards exceeded $101 billion, with KSA and UAE leading (KSA: $44 billion; UAE: $23 billion).
     • Residential sector dominated in UAE, accounting for ~75% of value in Dubai alone.
   • Pipeline: Estimated ~$3T, with KSA holding the largest share ($1.3T or ~35%).

4. Market Factors

   • Inflation & Commodities: Tender prices inflated due to material cost spikes (copper, iron ore, aluminum).
   • Key Risks: Supply chain disruptions, contractor availability, and geopolitical instability.
   • Tender Price Inflation (TPI) Forecasts:
     • UAE: 3% (2023), 2% (2024).
     • Saudi Arabia: ~6% (2023), 5% (2024).

5. Benchmarking

   • Egypt: High variability in construction costs (e.g., residential apartments: EGP 21,800–29,500/m²).
   • KSA & UAE: Costs vary by project type, with specific ranges provided for residential, commercial, hospitality, and industrial sectors.

6. Client Insights

   • Top Risks: Supply chain issues and inflation remain dominant concerns.
   • Sustainability: 100% of respondents acknowledged sustainability commitments, primarily driven by government legislation (post-COP28).
   • Talent: High demand for skilled workers in Saudi Arabia, requiring retention strategies.

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