Projects in Saudi Arabia
Tenders in Saudi Arabia
In the Middle East construction sector, Saudi Arabia has often been called as a sleeping giant due to its conservative pace of development. But the population growth, surging oil revenues, planned government investments to expand the country’s electricity network and water supplies, the global fall in commodities prices, and the desire to maximize the returns from record oil prices have emerged as some of the key dynamics contributing to acceleration in construction projects in Saudi Arabia.
Multi-billion dollar construction projects are under way and many more are in the planning stage by both the public and private sectors. Current infrastructure and public sector building projects in Saudi Arabia are valued at approximately $35 billion. Public Construction plans include building 4 new cities and 600,000 new homes to accommodate 5 million people by 2020. Two further cities are also planned as the population grows here by 500,000 people a year.
There are plans for new roads, railways, and ports. Some of the biggest schemes and projects in Saudi Arabia include, the 3 billion Saudi Landbridge linking Jeddah with Riyadh, the 4 billion, 444 Km Mecca to Medina high speed rail link, and the 3.5 billion on the upgrades of the road networks in Jeddah and Riyadh. The biggest scheme planned in the marine sector is a 4 billion port as a part of the King Abdullah Economic City.
In order to meet demand for portable water, two management contracts have been awarded for water services and wastewater collection. Projects worth $160 billion are announced in the water and electricity department. Similarly, the Ministry of Education has outlined a $4 billion plan to build another 4,000 schools.
There are several other projects in Saudi Arabia which aim at doubling desalination capacity, increasing electrical generation and distribution, and building new hospitals and clinics. The private sector however is focusing on offices, shopping malls, tourism projects, and hotels. A $1 billion seafront venture over 3.4 million square meters of reclaimed land between Al-Khobar and Dammam is planned to provide houses, apartments, hotels, a marina, shopping as well as a man-made lagoon in order to cater to the ever growing tourism industry in Saudi Arabia.
The boom in the Saudi Arabia construction market has lead many in the industry to speculate that the giant is now awakening. Those of you, who want to know about these and many other projects in Saudi Arabia and want to successfully grab the construction project, you may visit www.METenders.com the website would help you to locate business opportunities, projects and tenders in Saudi Arabia, market your products, evaluate risk and increase profit margins.