Economic growth…mortgage law boosts construction
November 18th, 2010
Saudi economic growth is heading for 3.5% this year on the back of heavy government investment spending. Mohammed Al – Jasser, governor of the Saudi Arabian Monetary Authority (SAMA) said growth would surge after the small increase of 0.6% in 2009.
Meanwhile mortgage law changes and government issued construction projects of some US$200 Billion would further boost the economy and provide opportunities for international suppliers. Mu’taz Sawwaf, CEO of Construction Products Holding Company said once new laws had been passed construction activity would increase by 20-30%.
A high level Italian trade mission toured Saudi Arabia last week starting in Riyadh then moving to Dammam followed by the UAE. The mission was there to set up joint ventures and sme’s in the interior design, manufacturing and hospitality sectors.
Green Building Design & Interiors Arabia gives you access to probably the best construction market in the world: 13-16 May 2012, Riyadh International Conference & Exhibition Centre.
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