Despite recent challenges faced by the sector attributed to low oil prices and a reported shortage of qualified workers, construction is recording a 4.1% increase this year in KSA. A recent BMI research forecasts the sector›s annualized average growth at 6.13% from 2018 to 2022.

According to Roni El Haddad, Event Director of the Kingdom›s premier construction event, The Big 5 Saudi, “the construction sector’s immediate outlook is extremely promising. The recent launch of the Public Investment Fund backed multi-billion dollar Amaala resort in September, along with the already announced NEOM and Red Sea Project, in what is already being dubbed the ‘Riviera of the Middle East’, is a proof of that.”

“Saudi Arabia’s Vision 2030, along with significant investment in housing and infrastructure development promoted across the country by local authorities, are revitalizing the construction industry and generating interest in a growing number of international players,” El Haddad added.