Massive construction projects in the GCC, particularly around social and transport infrastructure, will offer tremendous opportunities valued at up to $500 billion for contractors, Deloitte Middle East’s annual report “GCC Powers of Construction: Five Lessons to Learn From” released Wednesday said.
The Deloitte report showed that there is imminent growth in the Saudi Arabian construction industry, being the biggest market in the GCC in terms of population and GDP. Budget value of contacts to be awarded in Saudi Arabia in 2011 onwards is set to increase to $35 billion, as compared to $25 billion in 2006.
