The Saudi construction sector will witness a sustained robust growth this year, with project capital expenditures projected to reach SR269.7 billion in 2013, reflecting a modest 2 percent increase over 2012’s SR264 billion, the National Commercial Bank’s Construction Contracts Index (CCI) for the fourth quarter of 2012 released Sunday showed.
“The year 2012 provided the Saudi economy with a continued solid, sustainable outlook of the construction sector. The sheer volume of awarded contracts indicate that 2013 will extend the familiar trend of significant, ongoing construction projects in their execution phase, of which the majority that were awarded in 2012 have already been initiated.
The government’s projected expenditures for 2013 reveal that heavy capital spending will remain as status quo,” the report said.
Read more: http://www.saudigazette.com.sa/index.cfm?method=home.regcon&contentid=20130218153594
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