Future Play & Playspaces MENA 2017
 
Friday, December 9, 2016
Directory Directory Subscribe
Login
 

Chinese builders sweeping Middle East construction market

 
 

Please, enter data

Please, enter data

Business Korea, 2 March 2016

Chinese construction companies are sweeping the Middle East market. According to Middle East Economic Digest (MEED), a market data provider, Chinese builders won three contracts in Egypt, worth US$10 billion in total, and another one worth US$3.3 billion in Algeria in January 2016 alone. In the meantime, Korean builders obtained 11 orders in the Middle East between January and February but the average contract amount is less than 10 billion won.

Chinese construction companies are showing an excellent performance in Iran as well. China did not take part in the recent economic sanctions on the country unlike Korea and Chinese builders are making good use of their huge capital strength, price competitiveness and the Chinese government’s policy to back up their business there.

The three contracts in Egypt are especially noteworthy in that Chinese President Xi Jinping himself visited Egypt to sign them last month. During his stay in Saudi Arabia, Egypt and Iran, the Chinese President presented a new investment plan worth 86 trillion won. The Middle Eastern countries, which are suffering from financial difficulties with oil prices plummeting, are asking for China’s cooperation one after another, implying that Chinese builders’ presence in the Middle East construction market will continue to increase for the time being.
Business Korea
2 March

  COMMENTS
Login to Add Your Comment  (for subscribers) | Subscribe

 

Latest News

Qatar's SC and India sign 2022 projects MoU
Construction Week, 8 December 2016

The Supreme Committee for Delivery & Legacy (SC) has signed a memorandum of understanding (MoU) with India to encourage participation of Indian companies in ...

Read full story
Qatar's SC and India sign 2022 projects MoU
$10 million glass factory to open in Zahleh  
businessnews.com.lb, 8 December 2016

Glasspack, a newly established company, will open in mid-2018 a factory for the manufacturing of glass bottles and jars in Zahleh's industrial city, bringing ...

Read full story
$10 million glass factory to open in Zahleh
	 
Egypt signs three cooperation agreements with Kuwait  
Egypt Independent, 8 December 2016

International Cooperation Minister Sahar Nasr signed  three agreements of cooperation with Abdel Wahab Badr, general director of the Kuwait Fund for Arab ...

Read full story
Egypt signs three cooperation agreements with Kuwait
	 
Back to Home Page 1437 --- 385 <><><> 672.5.....exvideo=0....eximage=0
P 0
BR 6

Future Play & Playspaces MENA 2017

 

 
2nd Annual Marine Data Infrastructure GCC
30 - January 2017
3rd Annual Future Landscape & Public Realm UAE
6 - February 2017
LightingTech KSA
6 - March 2017
Smart Parking Jeddah
13 - March 2017
3rd Annual RetrofitTech UAE Summit & Awards
20 - March 2017
 
  View more  

Market Indecies
 
Saudi SE - 2.32%
Dubai FM - 4.53%
Abu Dhabi SE - 3.99%
Kuwait SE - 1.51%
Doha SM - 8.36%
Muscat SM - 6.18%
Casablanca SE Closed
Bahrain SE - 0.98%
Cairo SE Closed
Amman SE - 1.12%
 

Project Qatar 2017

Quick Links
  Reports  
  Articles  
  Brochures & Flyers  

Up-coming events
  Project Egypt - 8 February - 11 February 2017  
  Food Africa Cairo - 22 April - 24 April 2017  
IFP Group Events Calendar

 


Magazine sections
  Finance  
  Zoom  
  Growth Markets  
  Regional Overview  
  Editorial  
  Tips and Tricks  
  Spotlight  
  Home Finance  
  Our Meetings
 
  Focus
 
  News
 
  Legal Issues
 

 

               
IFP Corporate
• IFP Emirates
• IFP Lebanon
• IFP Qatar
• IFP Iraq
• REC Saudi Arabia
• IFP China
Lebanon
Energy Lebanon
Project Lebanon
Qatar
Heavy Max
Project Qatar
Qatar StoneTech
Iraq
Saudi Arabia
Riyadh Motor Show
 
 
  IMC
IFP Group 2016 - © All rights reserved