FINANCIAL NEWS

GCC to invest USD1t in construction projects by 2030

09 Apr 2015

(MENAFN) The GCC construction sector will record an unprecedented USD144 billion worth of projects in 2016, with forecasts of hitting USD1 trillion worth of projects by the year of 2030, Saudi Gazette reported.

Among the GCC’s top projects are World Expo 2020 in Dubai, 2022 FIFA World Cup Qatar, Smart Cities, and infrastructure venues. The heightened levels of investments reflect the demand for advanced project modeling software.

The United Arab Emirates leads the way with USD90 billion of development projects, and Qatar will invest USD24 billion on infrastructure in 2015, with its rapid growth in the construction market.

“The GCC being one of the world’s fastest-growing construction markets demonstrates the potential for how technology will enable the region’s architects, engineers, and field managers to drive innovation,” Area Business Director at Tekla Middle East said.

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