Market Size of Dammam Commercial Construction Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 250 Million |
| Market Size (2029) | USD 356.5 Million |
| CAGR (2024 - 2029) | 6.09 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Dammam Commercial Construction Market Analysis
The Dammam Commercial Construction Market size is estimated at USD 250 million in 2024, and is expected to reach USD 356.5 million by 2029, growing at a CAGR of 6.09% during the forecast period (2024-2029).
- The development of the new energy project is a significant step toward increasing economic contribution from different sectors in the industrial and logistics hub of the Kingdom. Dammam is one of the leading contributors to Saudi Arabia's oil GDP, with diversification in this area a key factor for attracting foreign investments and developing development opportunities.
- The development of the logistics sector is an important component in Saudi Arabia's overall efforts to expand its road transport sector. In line with its commitment to strengthening and modernizing transport infrastructure, the Kingdom intends to invest more than SAR 500 billion (USD 123 billion by 2030) in this expansion.
- The demand is directed toward retail developments with solid entertainment and F&B offerings. Tenants want to maintain a presence in well-managed developments or secure space in new developments.
- There are currently 12,700 keys available in the total quality hotel supply. By 2025, with around 2,000 keys set to enter the market, assuming no additional delays and taking into account only projects that have already taken place, overall supply is projected to increase by 17%. The largest source of new supply will be the InterContinental Dammam (289 keys).
