SR293.4bn awarded in construction deals in Q4 2013

February 18, 2014 11:00 am

Saudi lender National Commercial Bank (NCB) has said the kingdom’s construction sector is reaching record levels, as the government continues to push toward diversifying the economy away from the oil sector, the Construction Index has reported. NCB’s construction contracts index shows that a total of SR293.4bn was awarded in contracts during the fourth quarter of last year. The government plans to spend SR39bn on municipal services and SR66bn on transportation and infrastructure and water.