Saudi emerges as region’s largest construction market
In the next few years, Saudi Arabia’s construction industry is expected to grow with the value of projects planned and under way estimated to be over SAR3.75 trillion.
This construction market encompasses several sectors including transport, infrastructure, utilities, education and healthcare. The kingdom aims to prioritise upgrades to local roads, rail, port and airports along with other facilities in order to attract private investment.
Supporting the development, the country’s government has made its largest allocation for the 2015 budget toward the transport and infrastructure sector of SAR630bn.
One of the key projects in focus in the KSA is the rail and road project that includes Riyadh Metro, Dammam Rail, Haramain Rail, Makkah Railway, and Saudi – Bahrain Causeway. Airport construction and upgrades, including work on Riyadh’s King Khaled International Airport and Jeddah’s King Abdul Aziz International Airport as well as construction of new airports in Madinah and Abha Governorates, is another vital segment. Lastly, the upgrading of existing roads and building of new ones across the KSA along with infrastructure projects in the industrial cities of Jubail, Yanbu and Ras al Khair is also the part of the ongoing development.