AECOM Middle East’s 19th edition of its Middle East Property and Construction Handbook offers essential insights
Globally trusted infrastructure consulting firm AECOM has released the 19th edition of its much-anticipated Middle East Property and Construction Handbook, a key industry resource prepared annually by its Program Cost Consultancy team. As the region continues to experience unprecedented growth, particularly with the surge of giga projects and Saudi Arabia’s successful bid to host the 2034 FIFA World Cup, this edition provides critical insights into market trends, construction costs and strategic opportunities.
Paul Ralph, VP for Cost Consultancy for AECOM in the Middle East, highlights the importance of the handbook in the current economic climate. “The Middle East region, specifically the Gulf Cooperation Council (GCC), remains optimistic as diversification plans progress, despite the ongoing geopolitical challenges and global economic uncertainties of 2024.
“While economic growth for the year has been lower than anticipated due to moderate inflation and higher interest rates, the outlook for 2025 is positive, with a projected growth driven by the phasing out of oil production cuts and robust non-oil sector activity, particularly in Saudi Arabia,” notes Ralph.
The latest edition of the handbook examines emerging trends and the new opportunities that shaped 2024. It also reviews the economic and construction performance of both the global and Middle Eastern markets over the past year, identifying potential challenges and opportunities that lie ahead.
“AECOM remains committed to developing and adapting its expertise in line with the evolving construction landscape, providing agile, innovative and industry-leading solutions to clients across the region,” says Ralph.
A key highlight of this year’s handbook is a cost model on stadium construction, which is particularly relevant in light of Saudi Arabia’s successful bid to host the 2034 FIFA World Cup. The tournament will take place across five cities – Riyadh, Jeddah, Al Khobar, Abha and Neom – requiring extensive infrastructure development.
Saudi Arabia plans to build 11 new stadiums and undertake major renovations on four existing venues, making this handbook an invaluable resource for industry professionals involved in the country’s ambitious preparations.
The handbook also features insightful articles such as ‘Harnessing artificial intelligence to decarbonise the property and construction sector’, which explores how AI can support the industry’s decarbonisation efforts, and ‘Delivering vision through Strategy+’, which outlines the benefits of AECOM’s Strategy+ services in successfully delivering complex projects.
Furthermore, this edition highlights AECOM’s Sustainable Legacies initiative, demonstrating how the company collaborates with clients to drive sustainability and create a lasting positive impact on communities and the environment. The handbook also delves into the latest developments in AECOM’s digital transformation journey, showcasing how the firm’s focus on innovation is enhancing project outcomes for clients and communities alike.
For professionals seeking detailed cost data, the reference section provides international and regional cost benchmarks within the built environment, offering a high-level comparison of building asset costs. For specific, current, and benchmarked cost data, AECOM’s PCC team provides tailored advice and insights.
“With the Middle East poised for continued growth and transformation, AECOM’s Middle East Property and Construction Handbook remains an essential resource, equipping industry professionals with the knowledge needed to navigate an evolving landscape and capitalise on new opportunities,” concludes Ralph.
