Construction

GCC to spend $900m on interiors in 2012

Ventures ME report finds that bulk of spending will be in healthcare and education sectors

The GCC will spend $900m on interior contracting by the end of the year, a Ventures ME report says.

A new research report by Ventures ME has said Gulf countries are to spend over $900m by the end of 2012 into interiors contracting and fit-out developments in the healthcare and education sectors.

Qatar, with an investment of $192m and Saudi Arabia with investments worth $145m, have secured the biggest shares of the healthcare interiors contracting and fit-out segment this year, overtaking the UAE and Omani investments of $119m and $13m, respectively.

The study expects the thriving Qatari market to see healthcare projects worth $2.4bn ready by the end of this year. Saudi Arabia and the UAE are also set to launch this year healthcare projects worth $1.8bn and $1.49bn, respectively, ranking  as the second and third largest spenders in the Gulf healthcare sector, clinching a 30% and 25% market share, respectively.

Saudi and Qatar also lead the region in the education interiors contracting and fit-out sector with investments of $261m and $84m, respectively, surging ahead of Kuwait and the UAE, who have investments of $40m and $26m, respectively, according to the report.

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