GCC Construction Market Overview - July 2021
|Title: GCC Construction Market Overview - July 2021|
|Published on: 26-07-2021||Price: $1500.00|
The GCC countries experienced two significant shocks in 2020 namely the Covid-19 pandemic and disruptions in oil prices. The GCC region is also taking time to heal. Oil production cuts are weighing on output and new outbreaks have forced tighter lockdown measures in recent weeks, disrupting the recovery process. Higher budget spending would potentially result in faster expansion in GCC non-oil activity in 2021. It would also be consistent with medium-term policies, such as Saudi Vision 2030, geared towards increasing the share of non-oil revenue in regional budgets and lowering susceptibility of economic growth to fluctuations in the oil price.
Industry experts are cautiously optimistic about construction in 2021 as the pandemic continues to cause economic upheaval although vaccines and treatments are being rolled out to bring the region back to normalcy. The GCC governments’ programs to promote the development of affordable housing, transport and renewable energy infrastructure are expected to continue to support the expansion of the construction industry in the coming years. Encouraging PPPs will remain a key element of the GCC governments’ vision goals, which have been given additional impetus by the increase in public debt.
This report provides detailed market analysis, information, and insights into the GCC construction industry, including -
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