01 April 2011

THE Saudi Construction Summit comes at a time when spending on social infrastructure in Saudi Arabia, including educational and healthcare facilities, is set to surpass $155 billion over the next decade­­­­­­, according to IQPC, the show’s organiser.

The inaugural summit, which is to be held in Jeddah from June 19 to 22, recognises the unprecedented opportunity this represents for many regional and international construction businesses, it says.

“In light of the Saudi government’s most recent announcement of additional spending, on top of funding already committed through the 2011 budget, the significance of the Saudi Construction Forum 2011 cannot be overstated,” said Ozair Shaiq, conference director, Saudi Construction.

Shaiq also highlighted Saudi Arabia’s low public debt levels, which are among the lowest in the world, in demonstrating its ability to meet its social infrastructure project spending demands.

In financing its significant programme of social infrastructure construction, Saudi Arabia’s commitment includes $37 billion for the construction of schools and universities and $35 billion for hospitals and other healthcare facilities.

“With the huge volume of construction projects currently under way or planned for the decades ahead, the construction market holds huge potential for construction companies. Gaining access to this market is one of the key objectives of the Saudi Construction Summit,” said Shaiq.

The summit will provide organisations in civil engineering, primary construction, secondary finishing and related sectors with new insight into the design, construction and business model considerations required to develop a cohesive and efficient social infrastructure.

Population growth is the primary driver, with Saudi Arabia’s population having quadrupled over 40 years to reach 25.7 million people, according to figures from Credit Suisse Group AG.

“Over the next decade, Saudi Arabia is expected to face a sharp increase in healthcare and education demand. A growing population needs to be educated to compete in the domestic and regional market and an aging population combined with a high birth rate will inevitably put added pressure on healthcare services,” said Shaiq.

• Expo gives companies entry to Saudi market
• Unicera goes global and professional
• Bahrain expos postponed
• 1,000 exhibitors to take stage in Doha
• Update
• Aluminium show to reflect shine in sector
• CityBuild 2011 grows threefold
• 70 hosted buyers to be part of Airport Show
• Emo Hannover eyes more Mideast visitors
• The Big 5 Saudi Arabia surpasses expectations
• Chinese to show off sourcing prowess
• Saudi summit to highlight $155bn bonanza
• Saudi Exhibitors at sbie 2011*

Tags

Regional News UAE Focus Events Diary Legally Bound BIM Focus Dubai Review Paints & Coatings Air-conditioning & Refrigeration Carpets & Floor Coverings Loaders World of Saudi Oger Just Out Business Opportunity

Gulf Construction is the undisputed leading trade journal for the building and construction industries of Saudi Arabia and the other Gulf states. The magazine provides editorial coverage on a wide range of topics which are of interest to industry professionals. In addition, regular features highlight technological developments within specific industry fields. Launched 40 years ago, the magazine has established an enviable reputation as an authoritative, respected journal with unmatched coverage of the Gulf region. Gulf Construction is essential reading for anyone with a serious interest in the region’s building and construction industry.