Economic diversification, social reforms, general population demand and government projects are four factors that have contributed to the resurgence of the Kingdom's construction sector, according to a report by Linesight, a construction cost specialist. The report, prepared by Linesight, which specializes in construction costs, revealed that the Kingdom leads the GCC countries with more than 5,000 projects worth more than $1.6 trillion (about 6 trillion riyals) to develop infrastructure projects in the transportation and energy sectors, in addition to improving schools, hospitals and the tourism sector, as well as commercial and residential real estate. (Investment projects).<\/p>\n
The report emphasized that the GCC construction sector will gradually recover by the beginning of 2020, after a challenging period that saw underperformance across the region. A number of key factors will contribute to the long-term recovery of the Kingdom's construction sector, including economic diversification, the enactment of a number of regulations, rising demand as a result of population growth, and renewed government ambition.<\/p>\n
The Kingdom is actively seeking to improve railway infrastructure, airports, ports and other transportation facilities, as well as increase housing supply, healthcare, leisure and tourism facilities. The Kingdom remains the most active construction market in the region, which bodes well for more activity in the construction sector in the coming years, as the Kingdom has been undergoing a major cultural and social transformation since 2017.<\/p>\n
The report noted that the most prominent of the Kingdom's ambitious projects is the $500 billion NEOM project, which covers an area of 26,500 square kilometers, along 468 kilometers of the Saudi Red Sea coast near Egypt and Jordan, where the first phase of NEOM is scheduled to be completed in 2025. In addition to more than 150 development projects worth $3.27 billion for the Tabuk region, announced in November last year, the Kingdom has launched more than 600 projects in Qassim, worth $4.36 billion and about 200 new projects in Hail, worth $1.14 billion, in addition to the $4 billion Zakher mixed-use city project in Mecca and the Al Faisaliah development project in Riyadh, which includes the development of the Khuzama complex, retail, hospitality and commercial development.<\/p>\n
The value of construction projects in the Gulf region is expected to reach about 140 billion dollars (about 525 billion riyals) in 2019, according to a report by Ventures ONSITE, which estimated the size of the construction, infrastructure and energy sectors at 3.6 trillion dollars (13.5 trillion riyals). The report showed that the GCC countries are among the world's largest consumers of building materials per capita, expecting that high oil prices, a strong boom and economic growth in the GCC countries will promote renewed growth in the construction sector in the region.<\/p>\n
The Kingdom's construction sector is once again expanding and recovering after three consecutive years of contraction, due to the launch of several mega projects in Riyadh, which is evident in the increase in the number of projects awarded in 2019, as well as the strong rise in the annual growth of cement sales since June 2019. Retail residential mortgage financing is an additional catalyst for the non-oil sector, rising by 33% y-o-y by the end of September.<\/p>\n
<\/p>\n
Editor-in-Chief Abdulaziz Alissa explains the story behind Amlak Real Estate Newspaper's logo<\/a><\/p>\n Aramco officially sets IPO price at SAR 32 per share and offers 3 billion shares to individuals and institutions<\/a><\/p>\n Saudi Real Estate Institute accredits Abdulaziz Al-Essa as a trainer in its training courses<\/a><\/p>\n During a workshop at the Riyadh Chamber Bayan allows querying the financial and legal status of 200 million global companies<\/a><\/p>\n On the fifth anniversary of King Salman's pledge of allegiance, the Ministry of Housing reaps the fruits of success<\/a>\u00a0 <\/span><\/p>\n Ministry of Housing launches \u201cSakany\u201d app and new online platform on smart devices<\/a><\/p>\n Mortgage loans to individuals jump to SR9.2 billion in October<\/a><\/p>\n \u201cSAMA invites interested parties to comment on the draft payments system to enhance transparency<\/a><\/p>\n Riyadh to host the first edition of the International Real Estate Exhibition \u201cips\u201d on December 12<\/a><\/p>\n Saudi British Bank (SABB) provides feedback at Saudi Trade Finance Summit<\/a><\/p>\n Gulf Real Estate REIT secures SAR 300 million financing<\/a><\/p>\n Ease of Doing Business Initiatives grants 9 instant visas to full-time business owners<\/a><\/p>\n The Real Estate Contributions Committee \u201cTasfeeha\u201d recovers 6.6 billion. And disbursed 316 million riyals to shareholders last November<\/a><\/p>\n Minister of Housing\u00a0 <\/span>On the fifth anniversary of the Pledge of Allegiance: Achievements over the past years are an indication of the success of Vision 2030<\/a><\/p>\n Residential program offers more than 14,000 options including free land and residential units<\/a><\/p>\n Ministry of Justice issues directive allowing privileged residency holders to use real estate in Makkah and Madinah<\/a><\/p>\n (Monshaat and Al Ahli Bank sign MoUs to support SMEs<\/a><\/p>\n Agreement between Ruya Real Estate Investment Company and Vida Real Estate to operate Ruwaq Cordoba Mall in Riyadh<\/a><\/p>\n Saudi Engineers Organization signs agreement to enable national cadres to manage major projects Investment projects<\/a><\/p>\n Riyad Bank sponsors events to promote women's entrepreneurship and enhance their position in the economic sector<\/a><\/p>\n The Big5 Building and Construction Expo continues with 240 workshops and roundtables<\/a><\/p>\n Ministry of Housing starts developing Rawdat Al Taawun scheme in Jeddah and provides 661 plots of land<\/a><\/p>\n Royal decree appoints Prince Faisal bin Abdulaziz bin Ayyaf Al Muqrin as Secretary of Riyadh<\/span><\/a><\/p>\n The value of the financial market in (Tadawul) is approaching (2) trillion riyals ... 197 companies listed, and Aramco's offering jumps the Kingdom's markets to the top ten<\/a><\/p>\n Exceeding the 2020 target. More than 36% total operations in the retail sector are done electronically<\/a><\/p>\n Itqan Real Estate and the Endowments Authority organize\u00a0 <\/span>The first rental auction in the Western Region<\/a><\/p>\n Government agencies are instructed not to accept requests for proof of land ownership based on hand status or ordinary documents Reviewing the draft Real Estate Ownership Law<\/a><\/p>\n Investment projects<\/p>\n Saudi Engineers Organization completes automation of temporary contract companies The Saudi Engineers Authority completes the automation of temporary contract companies<\/a><\/p>\n Government Tenders and Procurement Law Regulations take effect on December 1st<\/a><\/p>\n The Gulf Economic Association visits Bahrain and congratulates the Speaker of the House of Representatives Bahrain Chamber President celebrates businessmen and calls for the opening of economic borders between countries<\/a><\/p>\n ","protected":false},"excerpt":{"rendered":" Reading time: <\/span> 4<\/span> Minutes<\/span><\/span>\u062d\u062f\u062f \u062a\u0642\u0631\u064a\u0631 \u0645\u062e\u062a\u0635 \u0623\u0646 \u0647\u0646\u0627\u0644\u0643 4 \u0639\u0648\u0627\u0645\u0644 \u0633\u0627\u0647\u0645\u062a \u0641\u064a \u0639\u0648\u062f\u0629 \u0627\u0644\u0627\u0646\u062a\u0639\u0627\u0634 \u0644\u0642\u0637\u0627\u0639 \u0627\u0644\u0625\u0646\u0634\u0627\u0621\u0627\u062a \u0641\u064a \u0627\u0644\u0645\u0645\u0644\u0643\u0629 \u062a\u0636\u0645\u0646\u062a \u0627\u0644\u062a\u0646\u0648\u0639 \u0627\u0644\u0627\u0642\u062a\u0635\u0627\u062f\u064a\u060c \u0648\u0627\u0644\u0625\u0635\u0644\u0627\u062d\u0627\u062a \u0627\u0644\u0627\u062c\u062a\u0645\u0627\u0639\u064a\u0629\u060c \u0648\u0627\u0644\u0637\u0644\u0628 \u0627\u0644\u0633\u0643\u0627\u0646\u064a \u0627\u0644\u0639\u0627\u0645\u060c \u0628\u0627\u0644\u0625\u0636\u0627\u0641\u0629 \u0644\u0644\u0645\u0634\u0627\u0631\u064a\u0639 \u0627\u0644\u062d\u0643\u0648\u0645\u064a\u0629. \u0648\u0643\u0634\u0641 \u0627\u0644\u062a\u0642\u0631\u064a\u0631\u060c \u0627\u0644\u0630\u064a \u0623\u0639\u062f\u062a\u0647 \u0634\u0631\u0643\u0629 Linesight \u0627\u0644\u0645\u062a\u062e\u0635\u0635\u0629 \u0641\u064a \u0645\u062c\u0627\u0644 \u0627\u0644\u062a\u0643\u0627\u0644\u064a\u0641 \u0627\u0644\u0625\u0646\u0634\u0627\u0626\u064a\u0629\u060c \u0623\u0646 \u0627\u0644\u0645\u0645\u0644\u0643\u0629 \u062a\u062a\u0642\u062f\u0645 \u062f\u0648\u0644 \u0645\u062c\u0644\u0633 \u0627\u0644\u062a\u0639\u0627\u0648\u0646 \u0627\u0644\u062e\u0644\u064a\u062c\u064a \u0628\u0623\u0643\u062b\u0631 \u0645\u0646 5,000 \u0645\u0634\u0631\u0648\u0639 \u0628\u0642\u064a\u0645\u0629 \u062a\u062a\u062c\u0627\u0648\u0632 1.6 \u062a\u0631\u064a\u0644\u064a\u0648\u0646 \u062f\u0648\u0644\u0627\u0631 \u0623\u0645\u064a\u0631\u0643\u064a \u00ab\u0646\u062d\u0648 … Read more<\/a><\/p>","protected":false},"author":10,"featured_media":27602,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"0","_seopress_titles_title":"\u0645\u0634\u0627\u0631\u064a\u0639 \u0627\u0633\u062a\u062b\u0645\u0627\u0631\u064a\u0629 .. 5,000 \u0645\u0634\u0631\u0648\u0639 \u062a\u0646\u0639\u0634 \u0642\u0637\u0627\u0639 \u0627\u0644\u0625\u0646\u0634\u0627\u0621\u0627\u062a \u0628\u0627\u0644\u0645\u0645\u0644\u0643\u0629 \u0628\u0642\u064a\u0645\u0629 \u062a\u062a\u062c\u0627\u0648\u0632 6 \u062a\u0631\u064a\u0644\u064a\u0648\u0646 \u0631\u064a\u0627\u0644","_seopress_titles_desc":"\u0645\u0634\u0627\u0631\u064a\u0639 \u0627\u0633\u062a\u062b\u0645\u0627\u0631\u064a\u0629 .. 5,000 \u0645\u0634\u0631\u0648\u0639 \u062a\u0646\u0639\u0634 \u0642\u0637\u0627\u0639 \u0627\u0644\u0625\u0646\u0634\u0627\u0621\u0627\u062a \u0628\u0627\u0644\u0645\u0645\u0644\u0643\u0629 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projects<\/h4>\n