Construction activity in Saudi Arabia has reached an all-time high in recent years

Construction activity in Saudi Arabia is at its highest level since 2018, according to a survey by the Royal Institution of Chartered Surveyors.

According to the Construction Activity Index, the third quarter of 2018 reported the highest level of construction activity in the kingdom since records began.

Infrastructure, private residential, and private non-residential construction achieved particularly high results.

Despite high levels of activity, skills shortages persist, reflecting a trend in global industry.

Eighty-four percent of those surveyed said a lack of skills was holding back construction, while 78 percent said the cost of materials presented a problem.

Specifically, 75 percent said there is a shortage of quantity surveyors in the industry.

Expectations for the next 12 months remain strong with infrastructure thought to lead demand.

Major public projects are underway in the kingdom, including the megacity of Nyom, the Darya Gate project in the capital Riyadh, and the Red Sea project on the west coast.

Moreover, as the economy grows, cities are also expected to witness substantial growth in the coming years.

Riyadh’s population is expected to grow from around 7.5 million at present to between 15 and 20 million by 2030.

The Public Investment Fund announced in February that it was investing $1.3 billion in local construction firms.

Read Also:  University demonstrations challenge the Milei government in Argentina

Recent Articles

Related News

Leave A Reply

Please enter your comment!
Please enter your name here