GCC construction deals to hit $195bn
Dubai, July 13, 2014
The GCC construction projects are forecast to reach $195.67 billion this year, up nearly $35 billion compared to last year, said a report.
The building and infrastructure sectors’ awards will make up $134 billion by the end of the year, an increase from $119.05 billion last year, said the Arabian Business report quoting a Ventures Middle East study.
The UAE, Qatar and Saudi Arabia are likely to lead growth in the construction market over the next few years, it said.
All GCC economies except Bahrain and Oman are projected to continue expansion for the next six years, with heavy investments planned irrespective of budgetary balances, it said.