GCC region set to benefit from a significant boom within the construction industry over the coming years
A recent study revealed that Oman is set to award $30bn worth of construction projects within the upcoming three to four years, following other neighbouring GCC countries like Saudi Arabia and the UAE.
“The Sultanate of Oman and the Middle East region as a whole is currently poised for growth in the construction and infrastructure sectors,” according to Andreas Geier, general manager, Sennbogen Middle East, said during a talk at the Arabian World Construction Summit 2012.
“Highly positive clime for construction and related infrastructure development make the country a pro-development nation and construction future of the construction and infrastructure industry in the country is brighter both in the in the short term and long term… there will be some boom markets, like Qatar from 2013 onwards, due to the World Cup 2022, Iraq and Egypt after the political situation stabilises,” Geier added.
The region is poised for a significant boom within the construction industry in the coming years, where out of the various projects awarded in Middle Eastern countries, Saudi Arabia tops the list with $119bn in construction and infrastructure deals, followed by the UAE with $75bn and Bahrain with $10bn.