Construction spend nears $1bn

The total value of approved construction projects in the Kingdom soared 97 per cent year-on-year through September, according to official figures, reaching nearly US$1 billion. The number of projects fell to 1,689 for the first nine months of 2011, down from 1,718 in the same period last year, according to the Ministry of Land Management, Urban Planning and Construction. But the total value of those projects reached $999.3 million, a significant jump from the $508.1 million in 2010…

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