Middle East > Saudi Arabia > Construction projects
Construction projects in Saudi Arabia
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Saudi's Binladin Group to axe 15,000 jobs
SAUDI ARABIA, 2015/11/26 In a sign of the times, Saudi Arabia's Binladin Group has announced the layoff of some 15,000 staff, Reuters reports. One of Saudi Arabia's major firms, the Binladin Group employs around 200,000 people and is considered one of the Middle East's major builders. Some of the 15,000 workers will be laid off instantly, while others would be transferred temporarily to work on an airport project in Jeddah. "The Saudi construction sector is definitely soft. There's general uncertainty and it's very difficult to plan where to focus on because companies are not sure which projects will go ahead, said an industry source. -
KAFD has "destroyed the office market in Riyadh," says Dar al Arkan boss
SAUDI ARABIA, 2014/11/19 King Abdullah Financial District, the ambitious new business district containing 59 new towers in the north of the city, could have a devastating impact both on the price of existing prime office space in the Saudi capital and on the prospects for private sector development, according to the chairman of developer Dar Al Arkan. “Unfortunately, this project destroyed the office market in Riyadh – at least for the next 5-10 years,” Dar Al Arkan chairman Yousef Al Shelash said in an interview with Construction Week.
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