Saudi construction adds 107B riyals to GDP
The Saudi Contractors Authority expects the construction sector's contribution to gross domestic product (GDP) to range between 77 billion and 107 billion Riyals during the second quarter of 2026. There will also be a 42% growth in the value of anchored projects compared to the first quarter, reaching 71.3 billion Riyals. The sector is one of the pillars of non-oil economic transformation under Vision 2030, contributing up to 7% of non-oil GDP, with a goal to increase its contribution to 50% by 2030. Spending 1 Riyal on construction generates between 2.5 and 3 Riyals in other sectors, serving as a catalyst for growth and employment. There are also plans to launch 800 million dollars for smart housing projects in Riyadh.
Notice: This Is an AI-Generated Summary
Comments (0)