By Innovation-sa on September 8, 2019 in News

According to a recent report published by one of the leading cost and project management consultancy Linesight, construction activities across the GCC countries will recover steadily from the start of 2020 after a challenging period of subdued performance. Economic diversification, social reform, and general demographic demand, combined with renewed government ambition are all key factors contributing positively to the Kingdom’s economic revival.


It noted that among the GCC countries, Saudi Arabia currently holds the greatest potential for construction projects with over 5,000 capital projects worth more than $1.6 trillion in its pre-execution stage. Some of  the major projects include the ambitious $500 billion NEOM project along the Red Sea coast, over 150 development projects worth $3.27 billion in the Tabuk region announced by King Salman in November last year, over 600 projects in Qassim worth $4.36 billion and another 200 new projects in Hail worth $1.14 billion.


Damien Gallogly, Linesight’s Regional Director for the Middle East, said that regional industry professionals are now optimistic about the prospects of Saudi Arabia. “Saudi Arabia is also actively seeking to improve its rail, airport, port and other transport-related infrastructure, as well as increase residential supply, healthcare, leisure and tourism facilities. Without doubt, the Kingdom remains the most active construction market in the region, signalling exciting times ahead,” he added.


Saudi Gazette – 28 August 2019