JEDDAH: Saudi Arabia's construction industry is forecast to grow four percent this year on the back of social and economic infrastructure expansion, Business Monitor International said in its report on the Kingdom's construction sector for Q2. The sector would reach a value of SR87 billion and post an annual average growth of four percent between 2011 and 2015. Data from the National Commercial Bank showed that SR80 billion worth of construction projects were awarded by the government in the first 10 months of last year, further supporting its bullish outlook for the country's construction sector. The Saudi national population with 66 percent under 25 ensures the continued demand for infrastructure, the report said. The Kingdom's Ninth Development Plan announced in August 2010 sets out investment of SR1,444 billion between 2010 and 2014. Out of this, seven percent are allocated to build a planned 1 million housing units. There are also plans to open 117 hospitals and 750 primary care units while the construction of vocational schools and colleges are also on the agenda. Meanwhile, Pakistan marble sector has huge export potential due to construction boom in Middle East. The country's marble sector is currently pursuing more than 50 construction projects in Makkag, and each project is estimated to be worth $1.5 million. During July-January 2011, the marble exports including semi, finished products and stone stood at $24.97 million, as compared to $10.53 million during same period last year
