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KSA construction spending steadily rising

According to Saudi Arabia’s National Commercial Bank (NCB), construction spending in the kingdom represented 4.4% of nominal GDP in 2012 and has been steadily rising over the past five years, Arab News has reported. Following the global economic slowdown, spending on construction projects across Saudi Arabia fell from 9.2% of nonoil GDP in 2008 to 8.4% in 2010, only to rebound to 8.9% of nonoil GDP in 2012, the lender said.