GCC projects 'reach $2 trillion'
Dubai, January 12, 2013
The value of projects in the pipeline - both planned and under way - in the Gulf region now totals more than $2 trillion, according to a report.
The Gulf region has seen a 12 per cent year in year rise in projects, the Arabianbusiness.com report said quoting Citi's Mena Construction Projects Tracker.
Saudi Arabia's planned projects are up 19 per cent and it remains the largest GCC market with projects totalling $790 billion.
Projects in Kuwait were up 16 per cent to $206 billion; while Qatar saw it rise six per cent to $228 billion; Bahrain slowed to $64 billion and Oman up six percent to $122 billion, it added.
More Construction & Real Estate Stories
- Work to start on Bahrain beach project
- Damac launches luxury apartments at Expo site
- Kuwaitis top GCC property buyers in Oman
- Rubber World to showcase at Big 5 Saudi
- Tool to help create effective property listings
- 'Smart' move by Dubai Design District
- Drake unit wins $13m contract in India
- Solar-powered cleaning boats launched in Sharjah
- $27m Expo Hotel Sharjah deal signed
- Arabtec unit wins $282m Emaar contract
- Abu Dhabi to host pool & spa expo
- ADCM unit secures $213m bridging loan
- Cluttons Dubai launches new luxury apartments
- Dubai developer Damac profits triple to $641m
- Dubai to start work on $544m water canal
- Dubai property market can absorb 25,000 units
- Jones Lang LaSalle renamed 'JLL'
- Aldar raises synergy estimate from Sorouh merger
- UAE industrial property sector keeps up growth
- Dubai residential property prices up 26pc
- Majid Al Futtaim to build new mall in Dubai IMPZ
- 300 firms to take part in Dubai property forum
- Naseej inks deal to develop Bahrain projects
- Dadabhai unveils new residential project
- Flowcrete completes Dubai Mall project
- Global asphalt demand hits new high
- $1.3bn infrastructure investment firm set up in Saudi
- Manara sees big project villa success
- Global giants eye RAK utility projects
- Cayan partners with international artist Zsuzsanna