GCC projects market to enhance in H2
20 Aug 2017
(MENAFN) The GCC projects market had a muted performance in the Jan-June period of the year, while it is projected to perform better in the second half of the year as its economies continue to adjust to lower oil prices.
Accordingly, the region’s leading projects tracking and analysis service, only USD56bn worth of deals were awarded in the first half of the year.
Meanwhile, every nation in the region experienced lower deal award values year on year, with the most marked drops in Kuwait at 46 percent and Bahrain at 84 percent.
In addition, the USD117bn, equivalent to the value of deals awarded last year, while the UAE, led by the Dubai real estate and transport sectors, remains the largest single market with USD38bn.