| 09 Mar 2010 |
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Saudi Arabia's construction sector achieves 3.9 per cent real growth in 2009
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Saudi Build / Saudi Stone 2010 attracts new investors from Belgium, Egypt, UK, France and Taiwan
Real growth in the construction sector of Saudi Arabia reached 3.9 per cent in 2009 with real estate growing by 1.8 per cent according to a report from the Ministry of Finance, as sustained government expenditure and continued private sector investments drive new real estate and construction projects across the country. The positive growth trajectory has in turn generated a diverse range of business opportunities, while fuelling demand for the latest construction technologies, building material and equipment in the country.
In addition to a wide range of commercial and residential developments, Saudi Arabia has also embarked on a diverse range of education, transportation, agriculture and other infrastructure development projects, which has further boosted the demand for specialised construction technology and expertise. Large-scale projects being launched in the country include around 1,200 new schools in addition to some 3,112 schools currently under construction, and the rehabilitation of some 2,000 existing school buildings.
A total of 6,400 kilometres of road will also be constructed, adding to 35,000 km of roads currently under construction. The government has also appropriated a total of SAR 46 billion for various water, agriculture and infrastructure projects, representing an increase of 30 per cent over the previous year. The new budget covers construction of water sources, dams and wells, water and sewage networks, and water desalination plants.
Saudi Build / Saudi Stone 2010, the premier business-to-business platform for the Saudi construction and stone market, has revealed that demand for space at the exhibition has increased sharply, as the favourable market conditions attract regional and international industry payers. Saudi Build / Stone 2010 is scheduled for October 18 to 21 / Dhu-al-Qa'dah 10 to 13 1431 (H) at the newly completed Riyadh International Exhibition Center.
Shahid Bhatti, Project Manager of Saudi Build at Riyadh Exhibitions CompanyRiyadh Exhibitions Company
, said: "The continued growth in international participation reflects the strength and huge potential of the Saudi market, while underscoring the strategic importance of Saudi Build / Saudi Stone 2010 as a gateway for international exhibitors and visitors to explore a wide range of business opportunities in the country. This year's edition is shaping up to achieve another record participation as real estate and construction market conditions remain bullish in Saudi Arabia. In fact, we have recently added Belgium, Egypt, UK, France and Taiwan to the growing list of country pavilions at the exhibition."
The exhibition comprises 'Saudi Build 2010 - the 22nd International Construction Technology and Building Materials Exhibition', and 'Saudi Stone 2010 - the 13th International Stone and Stone Technology Show'. The twin events expect an influx of thousands of industry-related visitors, including high-profile business leaders from Saudi Arabia and around the world, diplomats and high-ranking Saudi Government officials. Hundreds of exhibiting companies from Europe, Africa, the Middle East and Asia are also expected to attend.
To cater to the rising demand for stone, heavy machinery and construction equipment in Saudi Arabia, Saudi Build / Saudi Stone 2010 will have dedicated indoor and outdoor exhibition areas to serve exhibitors and visitors specialised in these market categories. Saudi Stone 2010 in particular will feature the most up-to-date stone, marble, granite, slate, and other natural products, while the PMV Series will feature market leaders in the heavy construction machinery and equipment sector.
This early, the number of country pavilions at Saudi Build 2010 has already increased to a total of 42 compared with 37 in 2009. The total exhibition area has also increased to reach around 30,000 SQM, compared to 23,000 SQM last year. Saudi Build is the only construction trade show in Saudi Arabia accredited by UFI, the Global Association of the Exhibition Industry. UFI certification is only granted to high-end professional events and experienced organisers with a distinguished record of attracting top-quality international exhibitors and select professional visitors.
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© Press Release 2010
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