Stone & Surface Saudi is your access to a multi-billion dollar market for stones and fit-out market
The demand for high-quality stone and fit-out materials in the Kingdom is fueled by the active construction projects including some notable mega projects in the country like Lines 1 to 6 of the Riyadh Metro valued at USD 23.2 billion, the Dammam Metro valued at USD 8 billion and Phases 2 and 3 of the King Abdulaziz International Airport Expansion valued at USD 2.5 billion.
Many of the mega construction projects require millions of tons of stone provided by both domestic and international suppliers.
Key Market Stats and Growth Drivers:
- New reform policies to generate alternative revenue sources for the government will take effect in 2017. According to the 2017 Saudi Arabia National Budget Report, the country’s reform policies aim to increase the general finances and efficiency of government spending to reach a balanced budget in 2020. The fiscal adjustments in response to low oil prices are expected to give the government additional revenue to sponsor new projects.
- According to the BNC Project Intelligence Database, Saudi Arabia has active projects worth approximately USD 700 billion. The main growth is witnessed in the urban construction and transport sectors which constitute approximately 68% of the total project values in the country.
- Several key market drivers will support the long-term growth of construction activities in Saudi Arabia. The most notable drivers are the rise in travel and tourism, population growth and long-term government planning.
- The GCC stone market is worth over USD 5 billion and constitutes approximately 20% of the global demand in the stone market and stone import value of 178.6 million sqm
BNC Project Intelligence, the official knowledge partner of Stone & Surface Saudi, provides you with valuable market insights on the increasing demand for high-quality natural stones and fit-out products.
If this is your marketplace - then Stone & Surface Saudi is your show!
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