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Saudi Arabia construction sees rapid expansion

Posted by: In: Real Estate 26 Nov 2014 Comments: 0 Tags: , , , , , , , , , , ,

Saudi Arabia’s construction sector has enjoyed rapid expansion in recent years, according to new a report from Knight Frank, which reveals that the value of construction across the kingdom rose in 2012 for the ninth year in a row.

Notable development activity has taken place in the north, where prices have risen by a healthy 9 per cent. Riyadh is an “important driver” of building activity, with the capital making up 27 per cent of all residential and commercial permits issued between 2003 and 2013.

The number of permits issued in the city also jumped 319 per cent during those 10 years, outperforming the national average of 215 per cent.

Saudi Arabia, Property Development

Source: The Movechannel


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