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FINANCIAL NEWS
Saudi Riyadh’s manufacturing sector posts remarkable growth
28 Aug 2014
(MENAFN) Saudi Riyadh’s industrial manufacturing sector witnessed a remarkable performance in the last year up until the second quarter of the year, Arab News reported.
The strong performance was driven by sharp demand fundamental along with increased public and private sectors spending led by the average sales price of manufacturing land.
Overviews of manufacturing sector are promising, with 10.1 million square meters of manufacturing land is projected to enter the market by 2018 along with stable strong demand.
“Despite Riyadh’s industrial master plan’s large forthcoming supply we expect demand for manufacturing space to maintain solid growth momentum,” Colliers International Riyadh Industrial Market’s MD said.
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