Saudi construction market set for growth

Estimated at $1.6 billion, the Saudi Arabian construction market is expected to grow at a rate of 32-35 per cent year-on-year until 2015, according to a report by Zawya, commissioned by The Big 5 Saudi. The Big 5 Saudi has seen unprecedented success and has increased in size as a result with an additional purpose built hall and outdoor area, since its launch in February 2011. The Saudi construction market is likely to continue to increase in size as the country plans to invest $806 billion in upcoming projects, planned until 2030. Additionally, the market is currently witnessing a shift in dominance from two of largest construction companies, Saudi Bin Laden and Saudi Oger, due to an increasing number of joint ventures between regional and international players who have partnered with Saudi contractors, to facilitate business in the country. Taking place at Jeddah Centre for Forums and Events from March 9-12, 2013, with the support of the Jeddah Chamber of Commerce and Industry and the Jeddah Municipality, the event is set to host more than 550 exhibitors, from 35 countries. Andy White, event director of The Big 5 Saudi, said: "The evolution of The Big 5 Saudi seems to be a reflection of the changes and growth within the Saudi construction market. Growth in demand year-on-year is clearly illustrated in the establishment of a purpose built hall as well as an outdoor area to accommodate heightened interest. “Education elements of the event have also been popular, and we will again host a number of workshops that will aim to encourage sustainability and environmentally conscious construction and building maintenance habits.”