A MARKED increase in sales in the Saudi cement sector for the first quarter of this year is expected as a result of improved demand supported by the infrastructure development projects and the decrease of the effect of labor shortage on the local market, Aljazira Capital Research Report said. The report expected the housing sector to expand due to the anticipated decline in the prices of land in the medium-term, for the benefit of both individuals and developers. The enacting of the urban land fees law is also a crucial factor that will increase cement consumption, it noted. The construction sector that constitutes nearly of 54% will benefit from the cement consumption, through the current governmental initiative that aims to meet the housing shortage. The rise in tourism activities in both Makkah and Madinah will also lead to the establishment of hotels and other hospitality sectors. Aljazira Capital is the investment banking arm of Bank Aljazira, a Saudi joint stock company operating under the supervision and licensing of CMA. It specializes in securities and provides dealing, underwriting, managing, arranging, advisory, and custody services. — SG
