GCC Infrastructure Construction Market

Over the years, industrialisation and urbanisation trends have always augmented the need for better infrastructure developments in the GCC region. The infrastructure sector has emerged from the pandemic with rejuvenated spirit, fulfilling a key role as a catalyst to sustainable economic recovery. The GCC region still has huge infrastructure needs especially with events such as Expo 2021 and Qatar FIFA World Cup 2022 drawing near.

GCC Power Construction Market

The GCC countries are an ideal market for renewable energy deployment. With electricity demand rising at about 5% each year, and with a shortage of readily available natural gas supplies, expanding renewables capacity is now one of the top policy priorities for governments in the region. According to industry reports, the power companies from the GCC countries are planning to further invest in the global US$ 10 trillion renewables market.

GCC Building Construction Market

The GCC building construction market’s outlook remains largely positive with a growing population and rapid diversification away from oil, which is evident in GCC economies retaining expenditures on key sectors such as hospitality to promote tourism and mega events such as Dubai Expo 2021 and Qatar FIFA World Cup 2022, education, affordable housing and healthcare.

GCC Industrial Construction Market

Despite the fluctuations in oil prices and the coronavirus pandemic, the GCC industrial sector is expanding as the countries look to maintain a diversified and balanced economy. Government backing, huge investments, relaxation in regulations, and welcoming foreign direct investments show endless opportunities for the sector.

Saudi Arabia’s Vision 2030, Bahrain’s Economic Vision 2030, and in the UAE both Abu Dhabi’s Economic Vision 2030 and Dubai’s Industrial Strategy 2030, all feature growth in manufacturing as a key pillar of diversification.

GCC Oil And Gas Market

The GCC’s oil and gas market did suffer even before the pandemic hit the region. In 2020, oil firms, while benefiting from a cost advantage versus global competitors, have also been cutting costs, with Abu Dhabi, Kuwait, Qatar, and Oman delaying planned large investments in downstream development. Increased volatility in oil and gas prices negatively affected petrochemical producers’ margins.

GCC Public Private Partnership(PPP) Market

Public-Private Partnerships (PPPs) are an effective way to reduce the burden on the government. Over the years, a variety of PPP laws and strategies have been issued and adopted by all the GCC countries. The total GCC contractor awards for PPP projects are expected to increase from US$ 6,773 Mn in 2020 to US$ 10,290 Mn in 2021. KSA is expected to register the highest contractor awards in PPP projects in 2021 worth US$ 4,060 Mn