Staff Writer

Cement demand in Saudi Arabia is expected to rebound after falling by 9 percent to 47.26 million tonnes in 2023, driven by the giga project boom and infrastructure development,

Tadawul-listed City Cement Company said in its latest sustainability report for 2023.

The ongoing construction boom fuelled by major projects such as Qiddiya, Diriyah Gate, NEOM, The Red Sea and AMAALA will create substantial demand, the cement producer said.

Saudi Vision 2030, with its ambitious focus on infrastructure and urban development, is set to stimulate demand further.

The company said it believed that the growth of the housing mortgage sector in the Kingdom will escalate the need for cement for construction activities.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.