The value of contracts placed in the GCC will rise to $172 billion in 2015 despite lower oil prices, marking a value higher than in 2014 and a new record for the region, said an industry expert.
This is good news for the market wh
While the GCC construction industry remains positive about 2015 with 77 per cent of respondents to a survey stating they were optimistic, their confidence levels have fallen by 13 per cent from last year, a report said.
The drop i
Saudi Arabia and the UAE are at the forefront of the $1.5 trillion GCC construction market with projects estimated at $629 billion and $494 billion respectively, a report said.
To support every sector of the industry, The Big 5, t
The Big 5, the largest event for the construction industry in the Middle East, will introduce new features to help drive the estimated $195 billion worth of construction projects expected to start in the GCC over the next two years.
The civil construction boom across the Arabian Gulf will reach in excess of $330 billion by the end of 2008, more than ten times the annual investment being made in the region’s cash-rich oil and gas industries, according to a new research.