The demand for natural stone, marble, granite, ceramics and surface materials in the Kingdom of Saudi Arabia is driven by its construction industry which is projected to grow at a compound annual growth rate (CAGR) of 7.05% from 2016 to 2020.
A surge in construction activities is underway as the Kingdom continues to implement initiatives aligned with its Saudi Arabia Vision 2030 plan. Billions of dollars are invested to develop the Kingdom’s urban and commercial sectors in the short term.
Urban and commercial projects planned and underway across the Kingdom’s several sectors include:
- Transport: The MRT and the development of 27 domestic, regional and international airports
- Healthcare: 361 healthcare projects with a combined estimated value of USD 26.3 billion
- Hospitality: 309 hospitality projects with a combined estimated value of USD 30.7 billion
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