Saudi Arabia’s construction sector is set to see a surge with SR487.5 billion ($129.9 billion) allocation by its government for housing and infrastructure development in the kingdom.
The government has earmarked a total of SR247.5 billion for housing development and SR61.875 billion for transport expansion, while an estimated SR7.5 billion has been allocated to road projects under construction, said a statement.
The General Authority of the Civil Aviation of Saudi Arabia has also set aside a fund of SR2497.5 million for construction of 34 airports across the kingdom in the next five years and a budget of SR101.25 billion has been approved for the rail projects that are either underway or at the bidding phase.
Meanwhile, Saudi Build 2013, the kingdom’s largest B2B construction fair, will provide the opportunity to explore its construction sector as exhibitors display latest technologies, machineries and equipments, and offer complete business solutions to real estate agents, contractors and developments.
The 25th edition of Saudi Build will be held from November 4 to 7, at the Riyadh International Convention and Exhibition Centre.
Zeyad Al Rukban, deputy general manager, Riyadh Exhibitions Company, the organisers, said, “Since its inception a quarter of a century ago, Saudi Build has been the foremost construction show in the region offering a platform to both exhibitors and visitors to leverage business opportunities in the region.”
Saudi Build 2013 will witness local and foreign participation from 28 countries and is accredited by UFI, the Global Association of the Exhibition Industry.
It will showcase the latest products and services related to building materials and equipment, architectural finishing products, stone, marble and granite products, construction tools and technology, engineering services, infrastructure materials, and security and safety systems.
It will also host two concurrent events – Saudi Build PMV 2013, the 3rd International Exhibition for Construction Equipment, Plant, Machinery and Vehicle; and Saudi Stone-Tech, the 15th International Stone and Stone Technology and Machinery Exhibition.