Saudi Arabia’s pipeline features 5,000 construction projects worth $820bn
Saudi Arabia currently has more than 5,000 jobs in construction, with the value of the projects reaching SAR3trn (US$819bn).
The 5,200 construction projects make up 35% of the Gulf Cooperation Council’s (GCC) active projects, according to The Big 5 Saudi.
The nation is the largest and most populous out of the six countries in the region.
Saudi Arabia’s construction is targeting the county’s Vision 2030 strategy, with gigaprojects such as the NEOM city in the pipeline, ConstructionWeekOnline reported.
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BMI Research has forecast that the kingdom’s construction industry will expand by 6.13% per year between now and 2022.
“The construction sector’s immediate outlook is extremely promising,” remarked Roni El Haddad, Event Director at The Big 5 Saudi.
“The recent launch of the Public Investment Fund backed multi-billion dollar Amaala resort in September, along with the already announced Neom and Red Sea Project […] is a proof of that.”
“The diversification of Saudi Arabia’s construction portfolio, which now spans from smart cities to hospitality infrastructure, from housing to entertainment facilities and parks, calls for a wide range of new building solutions and equipment. The Big 5 Saudi’s expanded product sectors reflect this growing need.”