Saudi Arabia Special
Madinah Implementing 213 Development Projects Worth SR210 Billion
The Madinah Region is currently implementing 213 development projects with a total value exceeding SR210 billion, according to an economic report by the Madinah Chamber of Commerce.
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Project Details
- Total Projects: 213
- 188 private sector projects
- 15 government projects
- Total Value: Exceeding SR210 billion
- Total Land Area: Exceeds 15 million square meters
- Job Opportunities: Expected to provide more than 119,000 jobs
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Sector Breakdown
- Commercial Sector: 153 projects
- Residential and Commercial Sector: 27 projects
- Health, Education, Tourism, and Religious Sectors: Remaining projects
Economic Performance
- GDP (Q3 2024): SR57.6 billion, a growth of 2.8% compared to the same quarter of the previous year.
- Domestic Demand Growth: Second-highest growth rate in domestic demand at 11% (after Riyadh), according to points of sale.
- Real Estate Market: Trading volume of SR10 billion during 2024.
- Unemployment Rate (Q4 2024): Decreased to 8.4% from 10.3% in Q3 2024.
- Workforce: Increased to more than 458,000 employees.
- Economic Activity: Concentrated mainly in construction, trade, and manufacturing sectors.
Madinah Chamber of Commerce
- Chairman: Mazen Rajab
- Commitment: Providing necessary support to investors, data and statistics for economic decisions, and improving the investment and business environment.
- Vision 2030: The region’s advantages and investment opportunities make it a promising environment for growth and prosperity within the framework of the Kingdom’s Vision 2030.
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