The leading global provider of real estate and investment management services, JLL, recently launched a new report closely tracking changing market conditions in 2021 and their impact on real estate, project construction and development in the MENA region.
Construction News ME is delighted to share with its readers the conclusions of the MENA Construction Economic and Cost Insight report.
In essence, findings show that the Pandemic did not in fact lead to wholesale market slowing, but rather, construction activity maintained its momentum in 2021 – and indeed, the year sowed the seeds for considerable and ambitious undertakings across the MENA region. The report’s key findings include –
- US$156 billion worth of projects were announced across the MENA region
- Enhanced market buoyancy resulted from announcements by Egypt, KSA and UAE of planned 2022 spending
- Technology continued to impact the construction sector – particularly in respect to Digital Transformation and its abilities for delivering stronger data collection and business performance analysis
- Shifts in societal behaviours – partly resulting from the new working practices and protocols as nations and markets emerged from lockdown – also had an encouraging impact on market performance
To view the report in full, please download here –
https://www.jll-mena.com/en/trends-and-insights/research/mena-construction-economic-and-cost-insight