Saudi Arabia, a country which has been dependent on its rich oil reserves for several decades, is now on a path of economic diversification. With Vision 2030, Saudi Arabia’s Crown Prince Mohammed bin Salman is proving that the Kingdom could perform well in non-oil private sectors too.
As Saudi Arabia’s private sector expands rapidly, the Kingdom is expected to provide more job opportunities to nationals and foreign talents alike in the coming years.
Giga-projects like NEOM are presenting enormous job opportunities in the construction sector, along with offering employment in various other areas including advanced technologies like artificial intelligence.
Spotlight on construction sector
According to Grace Najjar, Project Management Institute’s regional managing director for the Middle East and North Africa region, the construction industry is expected to play a crucial role in achieving the goals set forth by Vision 2030, providing immense job opportunities in the future.
She further noted that Saudi Arabia’s construction sector will witness high demand for skilled professionals which include project managers, engineers and architects.
“Over 5,200 projects across Saudi Arabia, with a combined worth of $819 billion, are currently underway, representing 35 percent of all active GCC (Gulf Cooperation Council) project values. With such a vast number of projects, there will be a significant demand for skilled professionals in the construction industry, including project managers, engineers, architects and skilled labor,” said Najjar.
She added: “This demand is expected to continue to rise in the coming years, especially as Saudi Arabia and the entire GCC are on a path of economic diversification.”
Earlier in May, a report released by the US-Saudi Business Council noted that the Kingdom’s construction sector saw the value of awarded contracts increasing to $51.3 billion in 2022 — a 35 percent rise compared to the previous year.
“The surge in contract awards continues unabated on the back of a growing economy that was fueled by significant oil revenues and the acceleration of giga-projects following the COVID-19 slowdown,” said Albara’a Alwazir, director of economic research at the USSBC.
Najjar further pointed out that local talent in Saudi Arabia will get ample chance to explore employment opportunities in the construction sector.
“In recent years, there has been a push to develop local talent in Saudi Arabia, including in the construction sector. The government has implemented several initiatives to develop skills and create employment opportunities for Saudis, including the National Transformation Program,” added Najjar.
