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Saudi to award more construction contracts in 2010
- Saudi Arabia: Saturday, September 04 - 2010 at 09:32
Saudi Arabia's National Commercial Bank has issued a new report which forecasts that the kingdom will award more construction contracts through the year within its post-crisis fiscal expansion strategy, Emirates Business has reported. The second quarter of 2010 saw a consistent increase in the value of awarded contracts, with the total awarded deals during leaping to more than SR24.2bn from around SR8.8bn during the first quarter, the bank said in its Construction Index Survey. The sectors that contributed to the majority of the growth in awarded contracts during the first half of 2010 were power (SR11.7bn), residential real estate (SR5.9bn), roads (SR3.9bn), mixed-use real estate (SR2bn), and urban development (SR2bn), the survey showed.
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StaffSaturday, September 04 - 2010 at 09:32 UAE local time (GMT+4)
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