Kingdom represents a vital channel for growth, with current project backlog exceeding $880m
The Dubai-based construction company, Drake & Scull International (DSI), is eyeing more opportunities in the lucrative Saudi construction market, where experts estimate the value of projects planned and under way currently at $629bn.
The Kingdom’s construction sector is driven by factors including being the region’s largest economy, having a large and growing local population, and a national impetus on infrastructure development.
DSI said that while some construction markets in the region had stalled to an extent, the Saudi construction sector is set to achieve over 5% growth in 2012.
“For DSI, Saudi Arabia represents a vital channel for growth and a major beneficiary of our proven and unique technologies,” said Saleh Muradweij, managing director of Drake & Scull Construction.
“We have a very healthy local pipeline which we expect to further expand within the next few years,” Muradweij added.
The contractor’s current project backlog in Saudi Arabia exceeds $880m, making the country DSI’s leading market in the GCC region.