Since 2013, the number of construction permit procedures in Saudi Arabia has been on a downward trend. From 2013 to 2018, the value remained constant at 15 units. However, beginning in 2019, the value saw a gradual decline, ultimately standing at 13 units in 2023. This represents a -7.14% year-on-year decrease between 2022 and 2023. The average annual change (CAGR) for the last five years up to 2023 was -2.82%. Looking ahead, the forecast data indicates a further reduction, estimating the value to drop to 12 units by 2027 and 2028. The forecast 5-year CAGR is -1.59%, with a forecasted overall reduction of -7.69% over the next five years.
Future trends to watch for include:
- Potential regulatory changes that could either streamline or complicate construction permit procedures.
- Technological advancements that might further reduce the need for multiple procedures.
- Economic factors influencing the rate of construction activities.
