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

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.