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 […]
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 […]
The cement industry in Saudi Arabia and Kuwait is expected to flourish due to the current construction boom in GCC region where the total value of projects planned or underway is estimated at $2.3 trillion, according to Kuwait Finance House ( KFH ). The weekly economic report of KFH , also known as Baitak, said government support has been a key […]
The Saudi construction market, the most valuable market in the GCC at present, is valued at $495 billion, including projects currently under way and those confirmed and in pre-execution stage. Local companies, including Saudi Basic Industries Corporation (SABIC), Saudi Pipes Company and Saudi Export Development Authority, will be taking advantage of the opportunity to showcase […]
RIYADH – With the recent announcement of the Saudi government to allocate a social benefit package of SR 487.5 billion for the development of housing, infrastructure and transport in the Kingdom, the construction sector is set to see a surge driven by increasing private and public investments. The government has earmarked a total of SR […]
The contractor responsible for implementing the Taif-Makkah-Riyadh road link has said that the project would take a year to complete. Ahmad Abdul Ghafoor, the engineer in charge of the project, said: “We are still in the early stages. The first part of the work involves laying down an 8-km section of the road. We have […]
The Gulf Cooperation Council (GCC) countries are set to invest $155 billion (SR581.25 billion) for the construction of energy generating plants from non-traditional sources, notably solar energy, local media reported quoting a specialized energy report. However, the drive of energy firms from the private sector to renewable energy projects is still under the required level […]
Over the past 16 years, the government has spent a total of SR25 billion on developing the holy sites, Dr. Habib Zain Al-Abideen, undersecretary in the Ministry of Municipal and Rural Affairs, has said. The implementation of all projects was smooth, he said. Mina has not seen any fire accidents for 16 years while the […]