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Construction sector in KSA grew by 6.6%

Saudi Arabia - May 27, 2015
Construction sector in KSA

Economic studies predicted recently the growth of construction sector in the Kingdom of Saudi Arabia by the end of the year by 6.6% as a result of the rising government expenditure on gigantic projects.

Government investment on construction section in KSA grew by 35% compared to prior years. Real estate projects value rose also this year by 13.7%.

The current year witnessed also an addition of 1.5 million square meter in retail sector. Economic reports expected retail market to grow by 8% by the end of the year. Reports attributed retail sector growth to the rising consumption expenditure and the rising number of labor in private sector.

In the same context, the CEO of Al-Rajhi Group Fawaz Al Rajhi, said that the Saudi market is still attracting many foreign capitals despite the current regional and international events.

Al-Rajhi expected the investments rate to continue rising during the coming period as a result of the stable domestic politics and the growth of governmental expenditure.

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