President of the Saudi Contractors Authority Zakaria Al-Abdulqader said on the sidelines of his participation in International Contracting Conference that the size of the contracting sector in Saudi Arabia during the years 2023 and 2024 reached about 280 billion riyals annually. He expects the size of the sector in the Kingdom to reach one trillion riyals by 2025.
<The head of the Saudi Authority emphasized that the number of contractors registered in its records exceeds 15 thousand contractors. He explained that the number of current contractors is insufficient, as the number of contractors registered in the records of the Saudi Ministry of Commerce exceeds 200,000 contractors.
<He pointed out that there are many huge projects being implemented in the Kingdom, which requires a larger number of qualified contractors. He called on companies wishing to work in the field of contracting to register in its records and obtain the necessary license.
<Zakaria Al-Abdulqader, Chairman of the Saudi Contractors Authority, predicted the signing of contracts for contracting projects worth 1.8 trillion riyals until 2030. He explained that these projects will contribute to raising the contribution of the contracting sector to the GDP from its current percentage of 6%. These projections emphasize the importance of the contracting sector in Saudi Arabia. These forecasts indicate that there are many opportunities available for companies wishing to work in this sector.
Zakaria Al-Abdalqader concluded. International Contracting Conference, Zakaria Al-Abdalqader concluded his remarks at ICC by pointing out that the Saudi Contractors Authority works to qualify contractors and nominate them to the Public Investment Fund and the largest companies in the Kingdom, governmental or semi-governmental, noting the existence of consulting services and a price index that serves contractors and gives a study for more than 10 products.
Abdalqader concluded that the Saudi Contractors Authority is working to qualify contractors and nominate them to the Public Investment Fund. <The Saudi Contractors Authority is the official body responsible for organizing and developing the contracting sector in the Kingdom. While the Authority provides many services to contractors, such as issuing licenses. Providing training. In addition to participating in exhibitions and events. While the Authority contributes to enhancing the role of the contracting sector in the development of the national economy.
