The financial and logistical flexibility and the political will to just keep on building and building is a major perk for the world’s largest oil producer and the Arab Region’s largest economy. Buoyed by elevated government spends on social and economic infrastructure – six economic cities are currently arising to accelerate economic diversification and investments and enhance quality of life.
The 2013 budget estimates total revenues at over SR. 828 billion and total expenditures at SR. 821.25 billion, leading to a surplus of more than SR. 9 billion. Saudi Arabia lead the construction market in MENA region through 2012, with SR. 75 billion worth of projects; accounting for a 29% share of the region’s projects market valued at SR. 247.50 billion. The Saudi construction sector estimated currently at SR. 6 trillion is set to be the fastest growing sector in Saudi Arabia during the next 3 years; scoring double digit growth figures ranging between 23 – 25%. The fast paste of growth is backed by government’s plans to invest SR. 3022.5 billion in various projects till 2030.
While cement sales grew 12% from 46.9 million tons in 2011 to 52.7 million tons in 2012, Real Estate is fast becoming Saudi Arabia’s second largest economic sector after oil; estimated at more than SR 1 trillion, growing at the rate of 6% annually, and contributing 9.5% to the nonoil GDP. On the Transportation and Infrastructure front, expenditures are projected at more than SR. 64.85 billion (7.9% of total), which is 16% higher than the amount budgeted for last year. New projects include 3,700 km of roads, along with feasibility studies and design for 1,523 km of roads.
One unifying event that has been pivotal to the sustained growth of the Saudi construction sector is Saudi Build, the Kingdom’s largest business to business construction fair. It is the only construction trade show in the KSA fully accredited by UFI, the global association of the exhibition industry.
The latest edition, Saudi Build 2013 – the 25th International Construction Technology and Building Materials Exhibition – marks the historic Silver anniversary of Saudi Arabia’s premier construction show. It will be held from November 4 to 7, 2013 at the prestigious Riyadh International Convention and Exhibition Center.
Over the years, Saudi Build has provided a leading platform for Saudi’s construction stakeholders to explore the latest and most advanced construction and building solutions, and for exhibitors from around the world to consider and capitalize on the strong business potential of the KSA’s construction market. Last year’s show hosted 812 local and international exhibitors from 34 countries to post an 8 % increase in the number of exhibitors over 2011. An expansive exhibition area of 26,000 m2 accommodated 17 National Pavilions.
For this year, Saudi Build will once again enable trade visitors to evaluate 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, among others.
The broad scope is made possible through the holding of two concurrent events: Saudi Build PMV 2013 – The 3rd International Exhibition for Construction Equipment, Plant, Machinery and Vehicle; and Saudi Stonetech – The 15th International Stone and Stone Technology & Machinery Exhibition. The latter, by the way, is being undertaken in collaboration with Verona Fiere and Confindustria Marmomacchine, the organizers of the renowned “Marmomacc,” the leading fair for operators in the stone industry which has been held annually in Verona Italy for the past 45 years.
The KSA is embarking on ambitious efforts to satisfy the evolving housing, employment, education, leisure, transport and basic service needs of its residents. Saudi Build 2013 will provide valuable glimpses on the various tools, expertise and best practices needed to meet the construction needs of the Kingdom. Events such as these will continue to be vital to the sustained growth of an industry that has become a pillar of national economic and social development.
By Shahid Bhatti, Project Manager – Saudi Build 2013, Riyadh Exhibitions Company