Several alliances of local and international companies have started submitting prequalification applications to join the bidding process for the Makkah Metro service project. “Fifteen national and multinational consortia have submitted their eligibility documents to be qualified for bidding for the civil works of the Phase 1 of the Makkah Metro project,” said Makkah Mayor Osama […]
Saudi Arabia has a growing population with a steadily rising demand for energy as consumption increases by 7-10 percent each year, according to experts attending the high-profile event in Riyadh on “Empowering Saudi Arabia’s emerging renewable sector”. They said 80 percent of the Kingdom’s GDP is dependent on oil revenues. Although rich in oil, the […]
Real estate index for Makkah region surprised all forecasts that said deals in the sector will point to the downside during 2013. The numbers, values, and scopes of the deals up to the end of last year witnessed a rise of 350 percent compared with a year before. The value of deals during the year […]
The volume of Saudi Arabia’s booming construction and contracting market is expected to hit $300 billion (SR1.12 trillion) by 2015, said Fahd bin Mohammed Al-Hammadi, chairman of the National Contractors Committee at the Council of Saudi Chambers. “Construction is the Kingdom’s second largest economic sector after oil,” he said. In 2012, the sector contributed 16.5 […]
The health care industry in the GCC is expected to continue its robust growth propelled by demographic and macroeconomic factors in the region. GCC health care spending is expected to increase by a CAGR of 11.4 percent from 2010-2015. The main growth drivers of the industry include the region’s fast growing population, rising income levels, […]
Abu Dhabi: Completion of the UAE railway by 2018 can only bring more prosperity not only to the UAE but also the country’s five GCC neighbours as rail lines are constructed across the region, said Etihad Rail . The UAE railway will connect with the sources of raw materials, industrial areas, ports and major population centres, says Etihad […]
Total Industrial investments in the GCC have jumped from $81 billion in 1998 to $338 billion in 2012. The Gulf Organization for Industrial Consulting ( GOIC ) revealed some figures about the progress of industrial activities in GCC countries. The number of firms in the GCC jumped from 7,089 in 1998 to 15,165 in 2012. The number of workers […]
RIYADH – Saudi Arabia is currently overseeing the largest electrical supply expansion plan in the Middle East to meet the rising demand for power driven primarily by steady population growth, a rapidly expanding industrial sector, surging air conditioning requirements, and heavily subsidized electricity rates. In order to stay ahead of the demand curve, the Kingdom […]
The Saudi construction market, which captures 40 percent of the GCC market, is expected to award construction projects worth $90 billion (SR 337.5 billion) in 2014, local media said quoting a study prepared by a British financial firm. The study, disclosed at the Big Five International building & Construction Show, Dubai, said the value of […]
Riyadh, with SR99 billion real estate transactions, has ranked as the most sought-after city in the Kingdom. The capital city outweighs Jeddah, which had recorded more than SR90 billion of real estate transactions as per the real estate index issued by the Ministry of Justice. The real estate sector has revealed the positive impact of […]