Saudi construction sector growth development

Saudi Arabia: Real growth in the construction sector of Saudi Arabia reached 3.9 per cent in 2009 with real estate growing by 1.8 per cent, according to a report from the Ministry of Finance.

The report said the Kingdom had set aside SR46 billion ($12.2 billion) for various water, agriculture and infrastructure projects, representing an increase of 30 per cent over the previous year.

The new budget covers construction of water sources, dams and 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.

Large-scale projects being launched in the country include around 1,200 new schools in addition to some 3,112 schools currently under construction, and the rehabilitation of some 2,000 existing school buildings. About 6,400 km of road will also be constructed, adding to 35,000 km of roads currently under construction, the ministry said.

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.

Saudi Build / Saudi Stone 2010 is a premier business-to-business platform for the Saudi construction and stone market which will be held from October 18 to 21 at the newly completed Riyadh International Exhibition Center.

The continued growth in international participation reflects the strength and huge potential of the Saudi market, while underscoring the strategic importance of Saudi Build / Saudi Stone 2010 as a gateway for international exhibitors and visitors to explore a wide range of business opportunities in the country.

'This year's edition is shaping up to achieve another record participation as real estate and construction market conditions remain bullish in Saudi Arabia. In fact, we have recently added Belgium, Egypt, UK, France and Taiwan to the growing list of country pavilions at the exhibition,' he noted.

The exhibition comprises 'Saudi Build 2010 – the 22nd International Construction Technology and Building Materials Exhibition', and 'Saudi Stone 2010 – the 13th International Stone and Stone Technology Show'.
Hundreds of exhibiting companies from Europe, Africa, the Middle East and Asia are also expected to attend.

Saudi Stone 2010 in particular will feature the most up-to-date stone, marble, granite, slate, and other natural products, while the PMV Series will feature market leaders in the heavy construction machinery and equipment sector.