Infrastructure contracts in GCC to top $45 billion in 2014
The region will invest billions of dollars in transport-related infrastructure, including roads, rail, airports and seaports
The transportation sector will see major investment in the GCC over the coming years. Image courtesy: Etihad Rail
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The GCC will see over $45 billion worth of infrastructure contracts awarded by the end of 2014, double the value awarded in 2012, a new report has forecast.
The region will invest billions of dollars in the transport sector, with significant spending earmarked for rail, roads, airports, and ports, according to a Ventures Middle East report.
Rail contracts worth $97 billion are already underway in the GCC as the six nations work towards completing the 2,117km GCC rail network by 2018.
Airports in the Middle East will also see major investments, the report says. With passenger numbers in the GCC set to reach 4 billion by 2017, the region will spend almost $300 billion on airports over the next five years.
Free trade zones, or special economic zones, are another sector that investment can be expected in. While all GCC nations apart from Saudi Arabia offer them, the “UAE has the highest number of Free Zones in the GCC at 38, 20 of which are in the Emirate of Dubai,” the report says.
