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FINANCIAL NEWS
Saudi granted deals value reach SR20bn
22 Aug 2016
(MENAFN) The construction sector in Saudi Arabia constitutes huge share of the kingdom local economy, which posted high annual growth rate at 5.6pct in 2015.
On the other hand, the low level of oil prices and lower government spending this year brought huge project delays and cancellations.
Meanwhile, the sector contracted by 1.9pct amid the first quarter of 2016, settling at SR31.4bn.
Moreover, significant investments made by the government and other private institutions led to a joined annual growth rate of 6.9 percent in the sector.
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