Construction company Saudi Binladin Group has laid off 50,000 staff, a newspaper reported on Friday, as pressure on the industry rises amid government spending cuts to survive an era of cheap oil.
The total workforce at Binladin,
A number of major Saudi companies are planning to construct thousands of residential units for their employees in Jubail Industrial City, a report said.
The Royal Commission for Jubail and Yanbu (RCJY) is preparing to build 8,000
Major Saudi Arabian construction firm Abdullah Abdul Mohsin Al-Khodari and Sons said it may double its capital spending in coming years to cope with the work it hopes to do on the country's big infrastructure projects.
Saudi construction firm Mohammad Al Mojil Group (MMG) signed a SR450 million ($120 million) loan deal to help support its balance sheet, it said in a statement on Sunday.
The loan will 'support the solvency of the company and its opera
The value of construction contracts awarded in Saudi Arabia during the first half of this year reached SR84.2 billion ($22.45 billion), a report said.
Contracts awarded during the second quarter of the year was SR34.5 billion, according to
Saudi Arabian construction industry is poised to achieve a 4 per cent growth to reach a value of SR87 billion ($23.19 billion) this year, according to a report.
The sector’s annual growth is expected to be maintained at the same rate till
Construction Products Holding Company (CPC International) was recently awarded the best provider of building materials prize by Dubai-based publisher ITP in the category of "Best Achievement in the Saudi Construction Sector."
"This award r
Saudi Arabia’s construction sector is expected to achieve a 0.05 per cent growth in real terms, reaching a nominal value of SR87.23 billion ($23.2 billion) in 2009, said the organisers of a major upcoming construction event in Riyadh.
The construction industry in Saudi Arabia is poised to shrink by 0.7 per cent, down to SR72.57 billion ($19.38 billion) this year mainly due to the global slowdown, said a report.
Last year the real industry value contracted by 0.2 per cen