<The Contractors Committee at the Riyadh Chamber revealed that the prices of building materials have decreased since the beginning of this year, and attributed this to the reduction of government and private projects and the saturation of the local market of locally produced or imported building materials, and in the same context, the head of the committee confirmed M. Saleh Al-Habdan said that there is a significant decrease in the demand for basic building materials, and Al-Habdan pointed out that iron factories and cement factories have increased the number of production lines, and the increase in the number of production lines for factories was based on the expectation of increasing local demand, expecting that prices in building materials will witness a decrease in the coming days.

Al-Habdan pointed out that the decrease in government and private projects at the investment and housing level contributed to the decline in the prices of building materials in the local market, and there is a saturation of stocks in the local market in locally produced or imported building materials,

Habdan denied that the increase in the number of production lines of factories was based on the expectation of an increase in local demand, predicting that prices in building materials will decrease in the coming days. Al-Habdan denied that the prices of building materials will continue to fall in the future, stressing that building materials factories will stop some production lines to dispose of their surplus quantities and work to balance production with demand, pointing out at the same time that the local market will witness a decrease in the import of building materials during this year due to the accumulation in warehouses, indicating that the recovery of the building materials market is linked to the recovery of government and private sector projects.

Al-Habdan