saudi construction sector set to see 4 growth to 2015
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Saudi construction sector set to see 4% growth to 2015

Arab Today, arab today

Arab Today, arab today Saudi construction sector set to see 4% growth to 2015

Riyadh - Arabstoday

Saudi Arabia's construction industry is set to grow by an average of about four percent to 2015, and will be driven in part by low cost residential housing, Business Monitor International has said. Analysts said they anticipated that housing will increase as a proportion of total construction spending over the coming years as the kingdom bids to meet the huge and growing housing deficit which is impacting its young and expanding population. Underpinning this will be the government's pledge to invest half of the $133bn in social spending measures - announced in March - on housing, BMI said in a new report. The report said a $1.3bn housing project that will see 30,000 low cost homes built in the kingdom over the next five years will provide welcome new supply - in a country where the dire lack of affordable homes. In March, Saudi Arabia's government announced a raft of social spending measures which included a pledge to build 500,000 new homes over the next few years. BMI said that anchored by vast public spending, it believed that the kingdom's residential construction sector will be a "regional outperformer over the short-to-medium term". The latest data from Saudi Arabia's Construction Contracts Index (CCI) revealeds a 156 percent jump in the value of contracts awarded in the first half of 2011 compared to the equivalent period in 2010. "The surge in activity is even more notable given the political events and popular unrest that have swept across the Middle East and North Africa (MENA) region since the start of the year," the BMI report said. "While Saudi Arabia did not escape scenes of unrest and simmering tensions remain, the government's 'iron grip' and ability to spend its way out of trouble have largely shielded the kingdom's construction industry," it added. Analysts said that with ongoing political uncertainty in Egypt and Bahrain likely to make investors think twice before embarking on major construction projects, investor focus on the kingdom is likely to intensify in the near-term.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

saudi construction sector set to see 4 growth to 2015 saudi construction sector set to see 4 growth to 2015

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

saudi construction sector set to see 4 growth to 2015 saudi construction sector set to see 4 growth to 2015

 



GMT 10:06 2012 Saturday ,28 July

Querrey advances at ATP LA Open

GMT 21:15 2017 Thursday ,01 June

Trump condemns deadly Kabul explosion

GMT 02:15 2017 Thursday ,24 August

Is your country on the Qatar free entry list of 80?

GMT 19:48 2016 Monday ,03 October

Controversial boxing champ Tyson Fury retires

GMT 08:20 2015 Tuesday ,08 December

PC market woes show no sign of easing

GMT 17:27 2017 Tuesday ,25 April

20 Yemeni soldiers killed, injured in explosion

GMT 11:52 2017 Saturday ,30 December

OIC condemns Mar Mina Church attack

GMT 00:03 2017 Saturday ,25 March

Arab Meeting to Examine Anti-Corruption Methods

GMT 13:12 2017 Thursday ,20 April

Deputy premier meets Arab League chief

GMT 14:13 2014 Friday ,10 January

Opel Astra GTC

GMT 18:27 2016 Tuesday ,02 August

Turkish Foreign Minister arrives in Islamabad

GMT 11:27 2016 Tuesday ,13 December

Saudi woman arrested for challenging social norms
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday