News Middle East01 Feb 2021

Saudi Arabia:Number of building contracting firms to shrink in wake of IDI rule

| 01 Feb 2021

At least a fifth of building contracting firms in Saudi Arabia, especially small and medium-sized enterprises, is expected to exit the industry following the implementation of rules requiring construction and building contractors working on non-governmental projects to insure hidden defects under compulsory inherent defects insurance (IDI) policies. Construction costs are expected to rise too.

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