Saudi Arabia Building Inspection Services Market Analysis
The Saudi Arabian building inspection services market size will be estimated USD 182.9 million in 2024, and it is projected to reach USD 316.7 million by 2030, growing at a CAGR of 9.6% between 2024 and 2030. This will be due to the increasing construction activities, rising investment in real estate, and surging population in the kingdom.
The increasing population in the country is propelling the demand for houses. According to the International Monetary Fund, in 2022, the population of Saudi Arabia was 32.17 million, and in 2023, it was 32.82 million, which is around 2% higher than the previous year. This raises the demand for housing and commercial spaces for natives as well as expatriates. Inspection services are required for residential and commercial buildings as they play a crucial role in ensuring the safety and quality of these structures.
A home inspection can reveal potential issues, such as with the safety of the building, helping people make informed decisions related to pricing. Further, in certain cities of the kingdom, such procedures are either mandated by law or recommended during the purchase process.