Knight Frank – Saudi Arabia Industrial and Logistics Market Review, H2 2024

Saudi Arabia is strengthening its position as a leading industrial hub in the Middle East.

This growth is driven by the rise of e-commerce, strategic government initiatives, increased foreign and domestic investments, and infrastructure development. The rapid expansion of the logistics and warehousing sector plays a crucial role in this transformation. Economic growth in 2024 saw the non-oil sector grow by 4%, accounting for 72% of the total GDP. Saudi Arabia significantly improved its position in the global competitiveness ranking, climbing 17 places in the World Bank's Logistics Performance Index. Government initiatives such as the National Industrial Development and Logistics Program (NIDLP) are contributing to the sector's growth.