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Saudi construction shows three speeds in September
Saudi Arabia's construction sector data for September showed significant divergence among three trajectories: residential activity remained at its highest level with rapid improvements in infrastructure, while non-residential building growth declined to its lowest since May. Despite continued new orders and an increase in signed contracts, the market did not exhibit unified trends, with rising construction costs and falling cement sales. Additionally, the office market does not reflect weak demand but faces future supply pressures. The results indicate that the construction sector is moving at three different speeds, and the current phase requires a more cautious assessment of sustainable growth and overall market stability.
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