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Saudi construction sector 'stable'
- Saudi Arabia: Monday, August 03 - 2009 at 11:47
The Saudi Arabian civil construction industry is stable and has escaped the worst of the global economic crisis, according to a new report by Proleads Global. Despite the global slowdown, Saudi Arabia is one of the most active construction markets in the world as it grows its infrastructure to meet domestic demands, the report said. Less than 80 active projects, with a total value of around $20bn have been placed on hold or cancelled in Saudi Arabia, in contrast with the UAE where 400 projects, valued at more than $300bn, have been cancelled or put on hold.
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