Construction & Real Estate Companies in Saudi Arabia - The total value
of current projects in the GCC region currently stands at $2.62trn, with Saudi
Arabia accounting for $875bn, driven by government spending and high oil prices.
The kingdom of Saudi Arabia has budgeted $219bn for costing in 2013, of which
almost $76bn has been set aside for capital expenditure on investment projects.
The kingdom remains focused on investing in road, railway, power and housing
projects. The Saudi labor ministry had issued work visas to the country's
construction sector accounted for 58% of the total work visas issued by the
ministry last year. In 2012, the ministry issued nearly 1.6 million work visas,
of which 900,000 were allocated to the building and construction sector.
Moreover, the introduction of a new mortgage law is expected to contribute to
the growth of the residential sector in the coming quarters. The change in
global commodity prices over the last decade and the main econometrics that have
a strong correlation to changes in historical costs for each of the Gulf
Countries. Saudi Arabia and the United Arab Emirates, it is hard to digest that
all this change happened in just over a decade. During this time the
construction industry experienced unprecedented growth and decline with the
onset of the 2008 financial crises. In 2011 the Arab Spring brought focus to the
need for social investment by these governments. It is against this backdrop
that MCI has compiled its 3rd quarterly report investigating the key drivers
affecting the construction industry. Find Construction Companies in Makkah,
Construction Companies in Madina, Construction Companies in Jeddah, Construction
Companies in Dammam, Real Estate Companies in Saudi arabia, Real Estate
Companies in Makkah, Real Estate Companies in Madina, Real Estate Companies in
Jeddah, Dammam, Makkah, Madina, khobar, Taif, Tabuk, Al-kharj.