Colliers International | KSA Construction Cost Benchmarking and Forecasting | Update - November 2016 (Source: Colliers International November 2016) KSA | BENCHMARKING UPDATE FORECASTED 2016 (4th Qtr) 2017 (4th Qtr) Item Building Type Cost Range (SAR/m2) Cost Range (SAR/m2) Residential 1 Villa - Low Specification 1,881 - 2,308 1,796 - 2,204 2 Villa - Medium Specification 2,574 - 3,274 2,471 - 3,143 3 Villa - Medium High Specification 3,347 - 4,445 3,230 - 4,289 4 Villa - High Specification 4,414 - 5,647 4,282 - 5,477 5 Apartment Low Rise - Low Specification 2,037 - 2,487 1,945 - 2,375 6 Apartment Low to Medium Rise - Medium Specification 2,942 - 3,386 2,824 - 3,251 7 Apartment High Rise - High Specification 4,792 - 5,923 4,648 - 5,745 Commercial (Shell and Core Only) 8 Office Low to Medium Rise - Medium Specification 2,520 - 3,618 2,411 - 3,463 9 Office High Rise - Medium Specification 3,328 - 4,077 3,184 - 3,901 10 Office High Rise - High Specification 4,207 - 5,124 4,072 - 4,960 Industrial 11 Light Duty Industry 1,715 - 2,541 1,629 - 2,414 12 Medium to Heavy Duty Industrial 2,443 - 4,722 2,357 - 4,557 Hotels (Including FF&E) 13 Three Star 4,795 - 5,842 4,627 - 5,637 14 Four Star 6,577 - 8,391 6,366 - 8,123 15 Five Star 8,187 - 9,847 7,958 - 9,571 Retails (Shell and core with public area finished) 16 District Mall 3,827 - 5,657 3,712 - 5,487 Carparking 17 Podium 1,833 - 2,371 1,742 - 2,252 18 Basement 2,103 - 2,594 1,998 - 2,465 • Professional fees, land acquisition costs and financing costs are excluded from the above. • All hotel rates are inclusive of Furniture, Fittings and Equipment (FF&E). • Costs/m 2 are based on GIA as per the RICS code of measuring practice 6 th edition. • Cost ranges capture the average, based on all regions throughout Saudi Arabia. NOVEMBER 2016
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KSA | BENCHMARKING UPDATE NOVEMBER … Project Management & Cost Consultancy Services include: Project Management > Development Management > Program Management > Project Management
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Colliers International | KSA Construction Cost Benchmarking and Forecasting | Update - November 2016
The information contained herein has been obtained from sources deemed reliable. While every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No responsibility is assumed for any inaccuracies. Readers are encouraged to consult their professional advisors prior to acting on any of the material contained in this report.