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
- 18 Iraqi army officers killed in ambush
- GFH acquires prime UK residential property
- Plaza Premium wins Abu Dhabi Airports contract
- Engineering experts attend Autodesk conference
- Dubai $114m freehold property in big demand
- Heavy Equipment enters Qatar market
- Bahrain market to get $15.8m facelift
- Jacky’s unveils new 3D printers
- Technip wins $400m Kuwait PMC contract
- Arab investors eyeing Turkish property