GoingToMeet

A multi-billion dollar Saudi construction boom, propelled by high-oil-price-generated excess liquidity, a strong economy, and a growing population has prompted strong demand in Saudi Arabia for stone and stone technology. Dozens of huge construction projects are already underway or in the pipeline. The Government is expected to disburse billions of dollars on municipality upgrades and overhauls, hundreds of thousands of housing units needed to accommodate the expanding population, and projects involving hospitals, universities and hundreds of new factories. That’s on the public sector side. The private sector, too, is fuelling fast-paced construction sector expansion with multibillion-dollar projects including office complexes, luxury hotels, shopping centers, housing communities, malls and restaurants. Within the next year alone, Saudi Arabia is going to witness construction of around 800,000 new homes, half a million of them in the capital Riyadh, whose population is set to double from three to six million within the next decade.