Saudi building and construction contributes SAR 151 mln to GDP, says official

29/07/2019 Argaam

 

Saudi building and construction sector contributed around SAR 151 billion, or 6.2 percent to the Kingdom’s gross domestic product (GDP), Fahd Al-Nasban, head of the contracting committee at the Saudi Council of Chambers said in a meeting yesterday.

 

“The fast-growing building and construction segment is providing job opportunities for more than 144,000 Saudi nationals,” Al-Nasban added.

 

However, the segment recorded a negative growth rate at -3.5 percent, on a number of challenges, Al-Nasban said, highlighting the importance of cooperation between public as well as private sectors.

 

“The building and the construction sector is a key driver for a number of businesses in the Kingdom including industrials,” he noted.

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