Land of opportunity

This growing population is a product of the booming wealth of the country, which is fuelled by petrochemical exports. According to US state department Bureau of Public Affairs, oil accounts for “more than 90% of the country’s exports and nearly 75% of government revenues.” Further, the bureau states, “proven reserves are estimated to about one quarter of world reserves.” As a result of petrodollars and high per-capita GDP the population of Saudi Arabia began to boom in the 70s, which has resulted in today’s youthful demographic, most of whom will one day require a home, hence the construction potential.

Education

Opportunities also abound due to the developmental policies of the government of Saudi Arabia.

A series of five year plans have been in place since 1970. The current plan, which covers 2005-2010, has a focus on economic diversification, education and the inclusion of women in society.

An example of how such plans can lead to lucrative work for the construction industry is Noura Bint Abdu Rahman Univeristy for Women in Riyadh, the first university in the country exclusively for women.

Work is split into three packages worth a combined total of US $11.5 billion (SAR43 billion). Two of these packages cover the buildings and associated works, while the third covers the infrastructure.

Tourism

The 2005-2010 development plan also highlights tourism as a sector with the potential to further diversify the economy of the country.

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