GCC construction industry witnesses growth phase
Also included in the report are lists of growth drivers, challenges, developments and recent trends in the GCC's construction industry landscape and profiles of the people and firms active in the GCC's construction industry.
“The GCC construction industry foresees growth from 2015-18, encouraged by factors such as favorable macroeconomics, positive demographics and rising tourism activities. Higher budget allocation towards construction sector, as part of the strategic vision of the member nations, lends an added push to the industry,” Alpen Capital Ltd. Managing Director Sameena Ahmad said.
Sanjay Bhatia, managing director of the Alpen Capital Investment Bank in Qatar agreed.
“The GCC governments challenge to diversify their economies from oil and gas and their consistent focus on infrastructure development across sectors has kept the construction industry in focus," he said. "Activity in sectors across infrastructure, residential, commercial, hospitality, retail, etc., have taken center-stage in inviting global participation and attracting the attention of businesses and tourists alike. Although investments are directly dependent on the pace of each government, we believe that the GCC region continues to be a desirable location with accelerating growth prospects for the near future. ”