MidEast firms to up 'mega project' spend - PwC

Nearly three quarters of businesses expect to increase their spending this year on mega infrastructure projects in the Middle East, according to a survey by professional services firm PricewaterhouseCoopers (PwC).

The '2012 Capital Projects and Infrastructure Survey' showed 72 percent of respondents forecasting increased spending, despite 64 percent experiencing budget overruns. Another 80 percent said their projects had faced delays in the past year.

“This is a positive indicator”, Chris Scudamore, PwC Partner based in Doha, who leads Doha Capital Projects and Infrastructure and worked on the survey, told Arabian Business Qatar. “The message is that they are investing in new different projects, not only on the ones they are working on right now."

The survey was completed by 61 respondents from a range of industry sectors, all with a key role in the delivery of major projects.

“There are budget and schedule challenges that need to be better managed across the region, but these challenges won’t stop countries from developing more projects,” said Scudamore.

He cited Hamad International Airport, which will be inaugurated on April 1 in Doha after repeated delays. “Those delays won’t stop Qatar from doing new projects, but the country will eventually develop a better way,” Scudamore said.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Abandoned in Saudi desert camps, migrant workers won't leave without pay

Abandoned in Saudi desert camps, migrant workers won't leave without pay

Plight of workers has alarmed their home countries and drawn...

2
Are the troubles easing for Saudi construction giant Binladin?

Are the troubles easing for Saudi construction giant Binladin?

Gulf kingdom's biggest builder appears to have pulled back from...

Basra's plan to build the world's next tallest tower: Is this the MidEast's most ambitious or most foolhardy project?

Basra's plan to build the world's next tallest tower: Is this the MidEast's most ambitious or most foolhardy project?

With Dubai's Burj Khalifa and Jeddah's 1km Kigdom Tower, the...

1
Most Discussed
sponsoredTracking