Majid Bin Abdullah Al-Hogail, the Minister of Municipal and Rural Affairs and Housing, has said that the construction industry ranks second among all non-oil sectors in Saudi Arabia with an estimated SAR 255 billion in yearly revenue.
Al-Hogail emphasized that transforming the construction sector into an industry would be a critical step toward finding the best solution for the sector’s difficulties. He also stated that transporting the majority of the operations from the location to the factory will improve the ability to use modern technologies and methods, as well as increase the quality of the products and the speed with which they are completed, which will have a positive impact on costs and safety standards.
The contracting sector has over 175,000 companies and employs around four million people
Al-Hogail said during the opening of the third edition of the International Contracting Conference that the contracting sector has over 175,000 companies and employs around four million people.
The contracting industry is a major pillar in Saudi Arabia’s growth and prosperity as it is also a major engine for several sectors, which increases interest in its development and support. Al-Hogail indicated that the establishment of a permanent coordination committee to develop the sector comes as one of the capabilities that has been offered by the Saudi government. It is worth noting that the International Contracting Conference intends to review the latest technology and equipment utilized in construction, with over 25 local and international speakers discussing the sector’s latest information and experiences.
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