The total value of construction contract awards across the GCC is expected to reach $194bn in 2015, of which the building and infrastructure sectors alone are estimated to hit $141bn. The Ventures Onsite report, produced for The Big 5 Dubai Construction Exhibition, highlights the current state of the GCC construction market.
The GCC governments will continue to invest strongly in the education, residential, infrastructure, hospitals, and utilities sectors of the economy, thereby generating the demand for construction activities. In the future, GCC countries will aim to attract higher investments in its construction sector by hosting global events and showcasing itself as a preferred tourist and investor destination.
Qatar, the UAE, and the Kingdom of Saudi Arabia (KSA) are expected to continue their leadership streak in the building and infrastructure construction markets, as well as offer the strongest growth opportunities in 2015-2016.
The total value of construction contract awards across the GCC is expected to reach US$194 billion in 2015 (the figures are based on project schedules as of July 2015 taking into account buildings, infrastructure and energy sectors). Qatar, the UAE, and KSA are expected to continue their leadership streak in the building and infrastructure construction markets, as well as offer the strongest growth opportunities in 2015.
Ventures Onsite
12 October
