Saudi Arabia and UAE lead the MENA construction market with 4% and 3% growth respectively for 2024

(MENAFN- LeanFactor Global Communication) In nations like the United Arab Emirates and Saudi Arabia, the construction sector promises more than just stability in the next year. In fact, it is projected that Saudi Arabia’s construction market will experience a 4% annual average growth rate between 2024 and 2027. And the UAE’s construction market is expected to grow by over 3% annually during the same period.

Saudi Arabia appears to be the most active player in the Middle East construction market. The total value of the Saudi Arabian capital projects is estimated to approximately $1.2trn (pre-execution stage). At the same time, the UAE comes second with capital projects of $713bn, while Egypt and Kuwait are the following two with $578bn and $215bn respectively. Saudi Arabia takes the lead in and the UAE also plays a significant role, both markets demonstrated growth in 2023 experiencing a rapid expansion owing to factors like economic growth, burgeoning population and modernization.

Sarens, world leader in heavy lifting, engineering transport and crane rental services, has been entrusted with many construction projects in the MENA region and positions as a key player in the growth of the industry by helping construction companies in the region. In the Kingdom of Saudi Arabia Sarens participated in a strategic project for tourism with the lifting and installation of trusses weighing approximately 63.5 tons for the construction of the ballroom in the Four Seasons Hotel in Jeddah, at heights between 30 and 90 meters. This project directly contributes to attracting more luxury tourists to the region and boost local economy, thanks to its commitment to a state-of-the-art design building equipped with all kinds of leisure, shopping and entertainment facilities.

In the United Arab Emirates, the number of construction projects being released for tender continues to rise steadily. This is in part driven by a planned 34% increase in government spending on construction for 2024, and specifically, a shift towards greater investment in energy and public infrastructure projects, such as Al Maktoum Airport, Dubai Metro Blue Line, Hessa Street improvement, and Etihad Rail.

"The construction potential of Saudi Arabia is greater than one can imagine, the projects that are being carried out are so large that they require a company with the extensive experience of Sarens, which is present in more than 65 countries, and our partners at Abdulla Nass and Partners, collaborating in the most important constructions in the world in various sectors. These projects will also require collaborative work between companies given their magnitude, so it is important to seek synergies rather than competition", explained Philippe Verdeure, Sarens Managing Director Projects APAC & ME.

Over the last few decades, the construction industry has grown at a steady rate and in the last few years the region has experienced a construction boom leading to a rapid expansion in the size of cities. Contractors need to thoroughly understand, at the outset of a project, that the effective supply chain management will be critical to success and to manage and mitigate risks during the project’s lifecycle. Collaborators have an important role to play and Sarens develops projects safely and on time, contributing to reducing the overall costs thanks to the international experience of its staff and the high availability of different crane models and capacities, so that there is always the right solution for each project.

The Global Office for the MENA region offers highly technical heavy lift engineering solutions, crane rental services, maintenance and installation of new equipment, long-term rental of material, effective warehousing solutions, precise and technical transportation among other services. Sarens has SNME’s fleet ranges from modern Hydraulic Telescopic Cranes, Lattice Boom Cranes, Axles/SPMTs, Forklifts & Warehouse Equipment, Loaders, Trucks & Trailers, Manlifts and Power Sweepers.

In a context of high demands on the industry, construction companies must rely on partners to help ensure the success of their projects, optimize their processes and reduce their operating costs. In this sense, having the international support of Sarens multiplies the resources available to offer the companies that use their services the advice and logistics they need.

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