Top firms to take part in gulfBID expo
Manama, April 19, 2012
Some of the leading local, regional and international names in the construction sector - from manufacturers, suppliers, construction and contracting specialists - will take part in the upcoming GulfBID 2012, a major construction expo.
GulfBID 2012 will take place at the Bahrain International Exhibition and Convention Centre from April 24 to 26.
'Following its 2006 debut, gulfBID has received an overwhelming response from governments, industry leaders, exhibitors, visitors and decision-makers,' said gulfBID organiser Hilal Conferences & Exhibitions (HCE) managing director Jubran Abdulrahman.
'The show is now firmly established as the unrivalled business-to-business construction exhibition in the Northern Gulf, and its prominent stature is reflected in all exhibition space having been sold,' he added.
The GCC is currently witnessing a renewed construction and infrastructure development boom.
Reports suggest more than $286 billion worth of projects will be awarded over the next four years.
The lion's share will be accounted for in Saudi Arabia, which is poised to award some $119 billion of projects before 2016.
This includes $66 billion by the government on affordable housing, with Saudi developers planning to build about 260,000 residential units every year through to 2017.
The Eastern Province alone will require around 150,000 housing units by 2014.
Bahrain is also accelerating expenditure on affordable housing schemes in addition to new infrastructure developments.
Three new cities in East Hidd, East Sitra and Northern Town will be built to provide approximately 23,000 units by the end of 2016.
'This kind of construction sector spending is unprecedented on a global scale, and is driven by the huge petrodollar revenues the northern Gulf is receiving on the back of high oil prices,' Abdulrahman said.
'Against this background, the tremendous response to this year's gulfBID exhibition from leading players in the sector is an important statement of the value of the construction sector to the economy,' he added. – TradeArabia News Service