Construction & Engineering

From 2003 to 2013 Saudi Arabia’s second oil boom brought a decade of prosperity for its construction and engineering sectors, but with the brakes applied to public spending, many businesses face a more challenging landscape in 2016. Work is continuing apace on some of the most prestigious projects, such as the Riyadh Metro and King Abdullah Economic City on the Red Sea, but progress has slowed or stalled on many other schemes, and contractors, developers and suppliers face delays on new developments and payments for work they have already completed. However, there may be increased opportunities to work for a broader range of clients as the government considers ways to stimulate private sector growth in order to meet the needs of an expanding population.

This chapter contains an interview with Mounib Hammoud, CEO, Jeddah Economic Company.