GCC to see $72bn construction projects completed by end-2014

New research says Saudi Arabia and the UAE to command the largest market share of completed projects
GCC to see $72bn construction projects completed by end-2014
GCC construction, Middle East construction
By Staff writer
Fri 28 Nov 2014 01:04 AM

Construction projects in the GCC worth $72 billion are forecasted to be completed by the end of 2014, according to new research.

The figure is a 7.7 percent increase from 2013 according to Ventures ME research commissioned by dmg events, organiser of INDEX and workspace at INDEX exhibitions.

As a result, it is expected investment in the interiors and fit outs markets will reach $7.84 billion by the end of this year.

The residential and commercial sectors, with $30 billion and $11.8 billion worth of construction projects expected to be completed by 2014, remain the sectors that attract the most investment, the study showed.

It added that they were followed by educational, hospitality, which jumped up by 30 percent from 2013 - and the medical sector.

Saudi Arabia ($33.82 billion) and the UAE ($21.28 billion) continued to command the largest market shares in terms of projects due for completion during 2014.

These were followed by Qatar ($9.06 billion), Kuwait ($3.79 billion), Oman ($3.02 billion) and Bahrain ($1.05 billion).

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