Construction Sector in SaudiThe World’s Leading Construction Ecosystem

Vision 2030 drives the commitment for urbanization

Saudi Arabia's construction sector is ripe for new investments and developments, as Vision 2030 drives the commitment for urbanization.

The Saudi government is investing heavily in new infrastructure and development projects, such as the $500 billion smart city NEOM and the regenerative tourism destination The Red Sea Global. These projects are creating a huge demand for construction services, and international construction companies have a significant opportunity to capitalize on this trend.

The Saudi government is also welcoming foreign investment and is providing incentives to attract international construction companies.

If you are an international construction company looking to expand your operations, Saudi Arabia is the perfect destination. With its strong economy, growing population, and ambitious development plans, Saudi Arabia offers a wealth of opportunities for construction companies.

Grankraft’s Pioneering Expansion in Saudi Construction

For over two decades, Grankraft has been at the vanguard of customized construction, recently making its mark with the iconic Sheybarah Hotel on the Kingdom’s Red Sea island. This landmark project was merely a prelude to the remarkable trajectory that would lead Grankraft to Saudi Arabia, inspired by the country’s potential under the Saudi Vision 2030.

Grankraft’s path to expansion was punctuated by the Sheybarah Hotel project, a beacon of hyper-luxury on the Red Sea, showcasing their expertise in specialized metals and full contracting. This venture underscored the importance of expert guidance when tackling new territories.

While incoming companies know they can benefit from favorable conditions in which to set up their operations in the Kingdom, the AstroLabs on-ground team supported Grankraft in approaching the right organizations and fulfilling the requirements to attain these advantages faster and smoother.

The CFO of Grankraft expressed the need for a market entry partner and said, “I would recommend company that is looking to expand to Saudi to find a local market entry partner like AstroLabs who can identify the needs from the authorities and use their local know-how to fast-track the process of expansion for businesses.” By advising on the partnership structure and navigating administrative hurdles, AstroLabs ensured that Grankraft could focus on what it does best: innovating and constructing.