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FINANCIAL NEWS
GCC construction sector to grow 35 percent by 2105
21 Jun 2014
(MENAFN) According to a regional forecast, the construction and contracting sector in the GCC will grow at a rate of 35 percent until 2015, driven by generous government spending on infrastructure, QNA reported.
The growth forecast is based on a projected growth rate of 5 to 6 percent for the Gross Domestic Product (GDP) to reach USD3.6 trillion by 2016, compared to USD2.4 trillion in 2012.
The value of the Gulf region’s infrastructure and services projects in the next five years is expected to reach USD800 billion, due to fast population growth rates and infrastructure sector growth.
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