FINANCIAL NEWS

Report: Saudi construction sector to grow 7%

05 Aug 2010

(MENAFN) A report issued by Business Monitor International (IBM) showed that Saudi Arabia’s construction industry will continue to present opportunities to investors over the next four years, Reuters reported.

Business Monitor International is forecasting nearly seven percent growth in the kingdom’s construction sector in 2010, fuelled by billions of dollars of projects either in the pipeline or currently under way.

According to BMI’s Key Projects Database, $80 billion worth of infrastructure projects are currently under way in the Kingdom.

The report added that Saudi Arabia’s construction sector grew by 4.71 percent in 2009, citing data from the Saudi Arabian Monetary Agency, coming in above BMI’s estimates for the country.

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