Jordanian construction sector headed towards revival
GCC countries in 2011 announced financial grants worth $5 billion to support economic development in Jordan
RELATED ARTICLES: Arabtec wins $197mn St Regis contract in Jordan | Acoustic linear ceiling at Jordan’s Queen Alia International | Jordanian construction industry on verge of collapse Ahmad Tarawneh, president of the Jordan Construction Contractors Association (JCCA) said local contractors would have the largest share of projects the government plans to carry out from the Gulf Cooperation Council (GCC) grants, a Jordan Times report mentioned. According to Tarawneh, there are 2,400 construction companies operating in the Kingdom. GCC countries in 2011 announced financial grants worth $5 billion to support economic development in Jordan. $1 billion a year were allocated to finance development schemes included in the state budget. Planning and International Cooperation Minister, Ibrahim Saif announced the government would spend around $6.6 billion (JD 4.7 billion) on capital projects in governorates between 2014-16 and suggested that the projects would be implemented by local contractors to stimulate Jordan’s construction sector, added the report. Tarawneh told The Jordan Times that contractors expect the performance of the sector to be “much better” next year than 2012 and 2011, when many construction companies were idled due to the government’s austerity measures. “So far this year the sector performed better than last year,” Tarawneh said. He also indicated that the Ministry of Finance has paid off most of its financial dues to contractors.
