Saudi Arabia’s building materials sector investment hits $89.5bn

Saudi Arabia’s building materials sector investment hits $89.5bn

RIYADH: Saudi Arabia’s building materials sector is experiencing a boom as investment volume in 2023 amounted to SR336 billion ($89.5 billion), up 0.9 percent from 2022. 

The Ministry of Industry and Mineral Resource’s National Industrial and Mining Information Center report revealed that the entity has issued 183 licenses for the sector during the year, up from the 132 recorded in 2022, the Saudi Press Agency reported.  Saudi Arabia’s building materials sector investment hits $89.5bn