GCC construction turns corner after tough years – MEED

GCC construction turns corner after tough years – MEED

While the outlook for the construction industry has been transformed in 2022 by higher oil prices, war in Europe means the recovery is fragile

After six challenging years for the GCC construction industry, contractors, consultants and suppliers can at last look forward to a return to growth and the prospect of rising project opportunities in 2022.

With some $1.4tn-worth of construction and transport projects planned in the GCC yet to see their main contracts awarded, the pipeline of future project opportunities is vast, with Saudi Arabia (63 per cent) and the UAE (21.5 per cent) accounting for nearly 85 per cent of the GCC’s planned future projects.