Colliers International report forecast a drop in the number of projects until Q4 2020

Posted on September 10, 2020

• Between the period from Q2 2019 to Q2 2020, there has been a slight increase in pricing for some key construction materials in the region which include timber, block work, marble tile, alumnium, sand, concrete, rebar, and cement. • Construction cost is expected to reduce by more than 3% in comparison to Q4 2019, due to a decline in the pipeline of work and increased competition. • Saudi Arabia's construction sector is currently working on several gigaprojects including The Red Sea Development Project, Qiddiya, Amaala, Riyadh Metro, and Diriyah among others.