Volume of Saudi construction contracting to reach $75bn by 2024: SCA Governor

The volume of construction contracting in Saudi Arabia is expected to reach SR275 billion ($75 billion) by 2024, according to the Governor of Saudi Contractors Authority, Thabet Al-Sawyeed.

Al-Sawyeed made these remarks while addressing the Real Estate Future Forum on Feb. 23 in Riyadh. 

During the speech, the SCA governor said that the contracting sector in the Kingdom will witness a growth of 4 to 4.5 percent annually. 

He also noted that private projects are crucial for the development of the real estate sector in the nation.