Saudi Arabia expects a 7% rise in construction costs for 2024

Posted on February 26, 2024   |  

The Middle East's construction sector is expected to face new challenges in 2024, with construction costs predicted to rise by up to 7%.

In the UAE, construction expenses are set to increase by 2-3%, while in Saudi Arabia, the rise could be between 5-7% this year.

Inflation remains a major concern for the construction industry across the Gulf region, driving up costs.

Despite some signs of inflation easing towards the end of 2023, fluctuating prices continue to pose difficulties for developers.

Stable oil prices offer some stability amid uncertain cost fluctuations in construction.