Biz OpsNews

Billion-Dollar Saudi Arabia Construction Market

By March 2, 2014 No Comments

World Property Channel:

Leave it to the Chinese to constantly find new revenue avenues.

The latest is in Saudi Arabia where the kingdom plans to begin an estimated $100 billion worth of infrastructure projects by 2016, according to various media sources in China.

The China Daily reports China will be the likely source for much of the construction material required by Saudi developers.

Saudi economist Jamal Banoon told Al that less expensive materials from China will greatly boost the construction boom in Jeddah.

“China’s building material companies in the Saudi market will help those with low incomes to build their houses on less expensive budgets,” Banoon said. “They would also add to the total market value of real estate in the Gulf region if companies started to rely on Chinese building material for future projects,”

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