Saudi Arabia's construction sector worth $68bn, says report

Saudi Arabia's construction market is worth SR255 billion ($68 billion) per annum, thus making it the country's second biggest non-oil sector, reported the Saudi Gazette, citing a senior minister.

 

There are more than 175,000 companies that are working in the contracting sector with about 4 million workers, stated Minister of Municipal and Rural Affairs and Housing Majid Bin Abdullah Al Hogail after inaugurating the third edition of the International Contracting Conference in capital Riyadh.

 

Al Hogail pointed out that the contracting sector represented a main pillar in the growth and prosperity of Saudi Arabia, as it is also a main engine for several sectors.

 

Stressing upon the need to transform the construction sector into an industry, the minister said this would be a pivotal step that will pave way for providing the best solution to face the sector's various challenges.

 

A move in this direction by the government is the establishment of a permanent coordination committee to develop the sector, he added.

 

 

Source: https://www.tradearabia.com/news/CONS_403343.html

 

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