(MENAFN - Qatar News Agency) The Saudi construction sector continues to benefit from extraordinary spending on a massive scale as the Saudi government continues its push toward meeting rapidly growing demand for services by its citizens while diversifying the economy away from the oil sector, the National Commercial Bank said Sunday in its "Construction Contracts Index Fourth Quarter 2013".
This long-term challenge has necessitated heavy expenditures across all sectors of the economy, it adde
The total value of awarded contracts of SR293.4 billion clearly indicates that the government has and will continue the trend of placing significant injections into its capital expenditures, reported Saudi Gazette Monda
The SR293.4 billion in awarded contracts during 2013 was largely attributed to the government's continued expansion of capital expenditure
Consequently, the value of awarded contracts in 2013 recorded a remarkable 25 percent hike compared to 2012