Huge GCC construction spend changing global landscape
EPC landscape is shifting as KSA, Qatar and UAE plan $100bn spending sprees
A seminar entitled ‘The Future of EPC’, held in Dubai, has pointed out that as investments in the construction sector continue to grow in the GCC, the region is becoming a major driver of global change in the construction industry.
Hosted by Deloitte Middle East and Freshfields Bruckhaus Deringer LLC, the event saw experts gathered to provide industry perspectives. Featuring the largest project owners and international contractors in the region, the event had recommendations for industry participants on what they can do to plan for success.
“Driven by continued global dependence on energy, and coupled with substantial needs in the region for world-class infrastructure and industry, the forecasted vast construction spend will create increasing demands on both project owners and contractors as they deliver these projects over the next five years,” said Rizwan Shah, managing director, Corporate Finance, and leader of Deloitte’s Capital Projects Advisory services practice for the Middle East.
“With planned spend in the region of $100bn each for the Saudi Arabia, UAE and Qatar markets, the EPC landscape is shifting. Now is the time for owners and contractors to understand what is achievable – with respect to their current capabilities – as we barrel towards an embedded culture of capital efficiency, transparency, accountability and continuous improvement,” commented Shah.
