Gulf construction sector witnessing healthy recovery

Gulf construction sector witnessing healthy recovery

Muscat: After witnessing declines over the last several quarters, the GCC project market showed a healthy recovery during the first quarter of 2021 with the value of projects awarded more than doubling quarter-on-quarter to $26.3 billion, a new report shows.

"This was mainly led by pending project awards from last year, in addition to efforts by governments in the region to vaccinate the bulk of the population and limit the spread of the COVID-19 that affected economic activity across the globe,“ Kamco Invest, a Kuwait-based investment, strategy and research firm.