Saudi Arabia spearheading $1.6 trillion GCC construction market The GCC construction market is estimated at $1.6 trillion, with over 21,000 active projects as of Q3 2021, according to a new report by BNC Projects Journal.   Projects worth $24.7 billion have been announced across the GCC region during the third quarter with Saudi Arabia leading the way contributing half of the total announcements in Q3 and doubling the project completions when compared to Q2.   The GCC registered $16.5 billion worth of new awards in Q3 with the UAE and Saudi Arabia contributing 46% and 32% respectively. Urban construction leads amongst the sectors with a 62% share.   The utilities sector topped the ranks as it contributed 52% to the total announcements followed by the urban construction sector with a 28% share, stated the report.   According to BNC, the Saudi Project Index grew 2% over the last quarter to 112.1, indicating a healthy and developing project market, while the UAE continues to record a 37-38% QoQ hike in project announcements for consecutive quarters.   The project announcements in Qatar till Q3 2021 recorded a 54% hike over last year, stated the report.   "The Dubai Expo is a boon not just for the city but for the entire region as it creates a defining event to reverse the Covid-expat-exodus," remarked Avin Gidwani, CEO of Industry Networks.   "Driven by the UAE with a 45% share, project completions in Q3 adds $27 billion worth of finished developments in the GCC followed by Saudi Arabia with a 26% contribution. The urban construction sector again surfaces as the leader with 55% of the total project delivery in the region," he noted.   "Project awards and project completions in the GCC till Q3 is still 39% and 47% below 2020 respectively," he added.   Noticeably, project announcements till Q3 2021 in the GCC have performed extremely well as they are already 20% above the performance in the whole of 2020. However, project awards and project completions till Q3 2021 are lagging behind.   "Even with the massive uptick in economic activity there will be a lag of several months before construction activity picks up and you're going to have to bid some of this time in longer traffic jams to work, patiently pondering your plans for the exponential growth that is hiding on the horizon," added Gidwani. Source: Trade Arabia 2021-12-15 07:33:40 https://www.ld-export.com/upload/ld-export-3e47ac-large.jpg
Saudi Arabia spearheading $1.6 trillion GCC construction market

Publié le mercredi 15 décembre 2021. Temps de lecture : 3 minutes

Saudi Arabia spearheading $1.6 trillion GCC construction market

The GCC construction market is estimated at $1.6 trillion, with over 21,000 active projects as of Q3 2021, according to a new report by BNC Projects Journal.

 

Projects worth $24.7 billion have been announced across the GCC region during the third quarter with Saudi Arabia leading the way contributing half of the total announcements in Q3 and doubling the project completions when compared to Q2.

 

The GCC registered $16.5 billion worth of new awards in Q3 with the UAE and Saudi Arabia contributing 46% and 32% respectively. Urban construction leads amongst the sectors with a 62% share.

 

The utilities sector topped the ranks as it contributed 52% to the total announcements followed by the urban construction sector with a 28% share, stated the report.

 

According to BNC, the Saudi Project Index grew 2% over the last quarter to 112.1, indicating a healthy and developing project market, while the UAE continues to record a 37-38% QoQ hike in project announcements for consecutive quarters.

 

The project announcements in Qatar till Q3 2021 recorded a 54% hike over last year, stated the report.

 

"The Dubai Expo is a boon not just for the city but for the entire region as it creates a defining event to reverse the Covid-expat-exodus," remarked Avin Gidwani, CEO of Industry Networks.

 

"Driven by the UAE with a 45% share, project completions in Q3 adds $27 billion worth of finished developments in the GCC followed by Saudi Arabia with a 26% contribution. The urban construction sector again surfaces as the leader with 55% of the total project delivery in the region," he noted.

 

"Project awards and project completions in the GCC till Q3 is still 39% and 47% below 2020 respectively," he added.

 

Noticeably, project announcements till Q3 2021 in the GCC have performed extremely well as they are already 20% above the performance in the whole of 2020. However, project awards and project completions till Q3 2021 are lagging behind.

 

"Even with the massive uptick in economic activity there will be a lag of several months before construction activity picks up and you're going to have to bid some of this time in longer traffic jams to work, patiently pondering your plans for the exponential growth that is hiding on the horizon," added Gidwani.

Source: Trade Arabia

Contactez-nous

info@ld-export.com +352 264 59 378

Nos clients européens

Fettweis Packaging
CT Vlees Conserven
Sanders
Mark Dedrie
kersia
afix
airdeck
Early Birds
E-power
Fabié
Lacroix
Seaowl
albam
alotch
arem
ascania premium
awex
bc collection
belgian butters
berghoff
be matrix
brigitte ermel
beton de bonte
bm service
carconnex
carglass
centre européen du cheval
centre européen du cheval linalux
chameleon
clayton steam systems
cobel plast
conpalux
copex
covivins
creme de la creme
dalog
daucy
decathlon
decometa
delhez bois
denis fils
dumas
edialux
efc
egg event
electrominde
eleonor
equi4s
ett
europower
fruitsnack
flaxseed
fleurance nature
france macaron
gova plast
guilmin
gymna
harol
indigo care
jide
jodoca
kaasbrik
kakoon
krono spam
laborex
lanaform
lecluyse
lemmens
les délices du chef
lorbersa
macobo
maison colom
mdb profil
medical placement
metagenics
moments
multicom
nagi
night-orient
ng biotech
olympia
outlet avenue
oxylent
paiting with light
parkeon
peters autosport
plastic poo
pmc colinet
procell
qtee
rob
sabma
sag industry
seyntex
sweet pack
tein technology
the smiling cook
ulg
vandezande
waterpro
zenith

Contactez-nous


Nous rassemblons et traitons les données à caractère personnel reçues de votre part via ce formulaire dans le cadre de la gestion de nos clients, de notre comptabilité et de notre marketing direct. En remplissant ce formulaire, vous donnez expressément votre accord à ce traitement (cochez la case « opt-in » ci-dessous). Vos données à caractère personnel ne seront transmises et conservées que dans la mesure et la durée rendues nécessaires par les finalités susnommées. Vous avez un droit de consultation, rectification, suppression et regard sur ces données. Le responsable du traitement est l’entreprise LD Export (38/16, Duarrefstrooss , 9990 Weiswampach). Pour de plus amples informations, vous pouvez consulter notre Data Protection Notice sur notre site Internet https://www.ld-export.com/fr/mentions-legales.html.