Saudi leads GCC with $1.2 trln projects in pipeline: Deloitte

12/03/2019 Argaam

There are currently more than $2.5 trillion worth of planned or unawarded construction projects in the GCC region, and the biggest market by a large margin is Saudi Arabia, with more than $1.2 trillion worth of future work, according to the latest report by Deloitte.

 

Saudi Arabia is followed by the UAE at $716 billion worth of planned projects. The other markets range from $60 billion for Bahrain up to $215 billion in the case of Kuwait.

 

The report said as the GCC states have grappled with the economic challenge, initiatives such as the Saudi Vision 2030, Abu Dhabi Economic Vision 2030, and Dubai Plan 2021 have formed the foundations of national reform plans and strategies.

 

“Most of the major project announcements over the past three years – such as Neom and Qiddiya in Saudi Arabia, the petrochemicals diversification program in Abu Dhabi and the development of the Duqm industrial hub in Oman – sit within the framework set out in these national visions,” the report added.

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.