al rajhi capital, S&P Global launch Saudi construction index in Middle East

Riyadh – Mubasher: alrajhi capital, a company licensed by the Capital Market Authority (CMA), partnered with S&P Global to launch the alrajhi capital Saudi Construction Index in the Middle East.

Operated by the Market Intelligence division within S&P Global, the index is a new high-frequency indicator developed to track changes in business conditions across the Saudi construction sector, according to a press release.

It is launched to serve as a macroeconomic indicator, providing businesses, investors, and policymakers with a timely and standardized measure of current conditions across the sector.

Moreover, the index will track changes in a range of operating indicators, including new orders, business activity, input costs, supplier delivery times, and subcontractor availability.

This aligns with the Saudi Vision 2030 to back the Kingdom’s economic transformation and secure a healthier balance between real estate supply and demand, increasing the value of timely and credible indicators that help in tracking changing conditions across the construction sector.

CEO of alrajhi capital, Hossam Albasrawi, said: “As construction activity continues to expand across housing, infrastructure, and large-scale development, the new indicator will provide market participants with a consistent tool to monitor changes in business conditions and better assess the direction of the sector.”

Luke Thompson, Managing Director at S&P Global Market Intelligence, commented: “This comes at a critical time for the sector in Saudi Arabia, and we believe the index will provide timely, accurate, and high-frequency data to support decision-making by industry participants, investors, and policymakers.”

Source: Mubasher Source: {{details.article.source}}