The government represents the biggest provider of health care services in Saudi Arabia, accounting for about 75% of the country’s health spending. In 2015 the government increased its budget for health and social affairs by 48% to $42.64bn. Indeed the Kingdom’s health sector has witnessed rapid growth in recent times as the government looks to meet its 2020 targets of 264 hospitals, 70,694...
Education continues to be a major focus for Saudi Arabia, with an estimated $399.75bn spent on education between 2005 and 2015. This trend is set to continue, as the creation of a knowledge economy forms the third objective of the Kingdom’s 10th Development Plan. Private instruction continues to gain in popularity – the number of pupils at private schools grew by about 9% a year between 2008...
Despite the recent fall in oil prices, Saudi Arabia’s government is pushing ahead with its ambitious development agenda. The outlook is thus bright for the Kingdom’s construction firms, with projects planned under government’s 10th Development Plan including investments worth $258.2bn in real estate; $151.5bn in petrochemicals; and $126.7bn in electricity, gas and water. Indeed, in the short...
A young population and rising disposable incomes signal an optimistic future for the Saudi Arabian real estate sector. With the population growing at a rate of 2.6% per year, the need for housing is expanding rapidly, especially given that 67% of Saudis are under the age of 30. The retail segment also offers significant opportunities for developers, with vacancy rates at shopping centres in...
With Saudi Arabia’s 10th Development Plan the Kingdom has committed itself to responsible stewardship of the environment. The plan emphasises the importance of creating incentives and regulations that will underpin environmentally sustainable growth moving forward. Initiatives currently under way include moves towards more fuel-efficient cogeneration plants, carbon capture and storage, and...
Saudi Arabia’s transport services have witnessed significant developments in recent times, and this is set to continue with an anticipated $190bn to be invested in the sector through to 2025. The majority of this – around $141bn – will go towards rail and public transport networks. Successive phases of railway development will extend the network across the entire country, with the aim of...
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