GCC Powers of Construction 2012
Five lessons to learn from
This is the third publication and the only one of its kind amongst the Financial Services industry in the Middle East.
The report is produced based on data gathered from surveys, supported by interviews with some of the most prominent industry leaders from the region, to understand how they have progressed their businesses through these difficult times and how they have managed to create a stable foundation to move forward. Other major themes that are covered within the publication are: government spending, public infrastructure, going green, urban regeneration, transport infrastructure, affordable housing, IPO readiness in the construction sector, regional restructuring, and capitalizing on Build Operate Transfer (BOT) contracts.
In addition to the publication, you can download and read a detailed construction sector overview including forecasts, mega project details, and macro-economic data.
- Backed by vast oil-based reserves and government stimulus packages, the economic prospects of the GCC region have remained positive despite ongoing political unrest in the wider Middle East region.
- Efforts to maintain a balanced and diversified economic base have remained the primary focus of the regional governments as evidenced by a steady stream of investments into construction and infrastructure developments.
- Construction contracts worth USD 40 billion were awarded to contractors in the first quarter of 2011, 47 percent of which were in the energy sector.
- Global demand for oil and gas escalated as political unrest caused uncertainty on future supply.
- KSA is the largest economy of the GCC region and is leading investments in the construction sector.
- Over USD 500 billion investment opportunities in energy, transportation, education, healthcare and other critical sectors of economic development.
- The UAE is ranked as the second largest market with investments worth USD 9 billion allocated to buildings, infrastructure and energy sectors in the first quarter of 2011.
- Qatar is the fastest growing economy in the GCC region and holds an 8 percent share of the total value of projects backed by vast reserves of natural gas and an expansionary budget concentrated on all round economic development encompassing a wide spectrum of sectors.