Saudi Construction Sector Grows

Real growth in the construction sector of Saudi Arabia reached 3.9% in 2009 with real estate growing by 1.8%, according to a report from the Ministry of Finance. Sustained government expenditure and private sector investments continue to drive new real estate and construction projects across the country, the report added.

The report said the Kingdom had set aside US$12.2 billion for various water, agriculture and infrastructure projects, representing an increase of 30 % over the previous year.

The new budget covers construction of dams, wells, water and sewage networks, and water desalination plants, it added. In addition to a wide range of commercial and residential developments, Saudi Arabia has also embarked on a diverse range of education, transportation, agriculture and other infrastructure development projects, which has further boosted the demand for specialised construction technology and expertise. The positive growth trajectory has in turn generated a diverse range of business opportunities, while fuelling demand for the latest construction technologies, building material and equipment in the country, said Shahid Bhatti, project manager of Saudi Build at Riyadh Exhibitions Company.- Trade Arabia