GCC Project Sector Stands at a Combined Value of $3.1tn

GCC Project Sector Stands at a Combined Value of $3.1tn

In light of planned mega projects and major infrastructure development plans as part of the region's economic visions - such as Dubai's Expo 2020 and Saudi Arabia's Neom future city - outlook for the GCC's construction sector is promising.. While 2018 proved a challenging year for the construction industry in the GCC, contractors can look towards the future with optimism, as $22.4bn of construction and transport project contracts were awarded in the first half of 2019.. "The GCC projects sector is being challenged by cutbacks in government spending and a reduction in the number of private sector project sponsors.. The country also remained one of the biggest GCC markets in terms of project execution, with about $177.9bn worth of projects having been in their execution phase in June, 2019..