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BMI View: We significantly downgraded our short-term outlook for the Saudi Arabian construction sector
on the back of liquidity in the market severely drying up, following a reduction in government spending.
Beyond 2016 the goals of Vision 2030 will be key to opening up the infrastructure market with the potential
of private investment in transport sectors to energise the sector.
Latest Updates And Structural Trends
? Overall we forecast 0.5% growth in total construction sector value in 2016, based on the progression of a
contraction in Q116 and the liquidity crunch seeing project progress slow. Major projects will continue
however, such as the Riyadh metro and the Sadara Industrial Complex.
? In the transport sector, the privatisation of several airports will stimulate some investment over the
medium term, while the government is targeting all transport sectors to have some private participation
? Ambitious solar and nuclear plans are not factored into our forecasts as we expect the focus of investment
to remain on thermal projects - although gas supply issues will cap growth potential.