KSA’s $1.7 Trillion Construction Sector Aids Economic Growth, With 600 Firms Participating In Saudi Build 2024

The International Monetary Fund’s (IMF) World Economic Outlook report is projecting a GDP growth rate of 4.7% for the Saudi Arabian economy in 2025. This points to a rapid expansion in the economy that will outpace the global growth average in 2025. A leading high growth sector contributing to this exceptional expansion is the construction sector. The world-leading sector is driven by multiple projects in the industry’s pipeline amounting to $1.7 trillion. As the leader in the Middle East and North Africa’s construction index, the size of the sector is projected to reach $70.33 billion in 2024.

The 34^th edition of the Saudi Build and colocated 25^th edition of Saudi Elenex, held under the patronage of the Ministry of Municipalities and Housing was officially inaugurated today by His Excellency Ihab bin Ghazi Al Hashani, the Deputy Minister of Municipal Rural Affairs and Housing. He was welcomed by H.R.H. Prince Saud bin Turki bin Faisal bin Abdulaziz Al Saud, Chairman of Riyadh Exhibitions Company, the organisers of the event that is the leading building and construction exhibition in the Middle East Region.

The exhibition that has been running for 34 years and concurrent conference serve the national economic priorities of the Kingdom, focusing on the latest innovations and technologies to create a sustainable future.  This international event has attracted over 600 companies and organizations from the Kingdom and from 30 countries. 25,000 professionals are expected to visit.

The event, taking place at the Riyadh International Convention & Exhibition Center, runs from Tuesday 5^th November to Thursday 7^th November 2024. The exhibition is showcasing the latest advancements and covers a wide range of sectors, including Construction Materials and Technologies, Interior Designs and Finishings, Stone Technology, Aluminium, Doors, Facades, Glass and Windows, Plant, Heavy Machinery and Vehicles, Lighting and Fittings, Electricity and Alternative Energy, and Water Technologies. The show is organized by the Riyadh Exhibitions Company (REC).