GCC Construction Industry Facts and Figures November 2012

Date: November 1, 2012
Pages: 31
Price:
US$ 150.00
Publisher: Ventures Middle East LLC
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: G46DBAF6889EN
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GCC Construction Industry Facts and Figures November 2012
The construction market within the GCC countries is expected to exhibit favourable growth prospects in the coming years. A key driver of growth will be the considerable state spending on social infrastructure projects - 80 per cent of which is concentrated in Saudi Arabia, the United Arab Emirates (UAE) and Qatar. This, in turn is likely to spur growth in the other segments of the construction sector, in particular buildings and energy.

The major spending by the GCC countries, to meet the increase in demand stemming from a healthy rise in population, has also acted as a weapon to combat the economic slowdown and diversify into non-oil based growth for long run sustainability. Overall in 2011, construction contracts worth a total of US$ 314 billion were awarded in the GCC region, with buildings, energy and infrastructure projects accounting for 64 per cent, 25 per cent and 11 per cent shares, respectively.

Projects awarded to numerous contractors in the construction sector comprising of developments in Infrastructure, Energy and Building sectors had witnessed a steady growth until mid 2008 whilst 2009 and 2010 had borne the brunt of the government and investors cautious approach due to the global economic depression. As per the project schedules in November 2012, the year 2013 is expected to witness a moderate growth after making strong recovery in 2011 and 2012, in terms of main building contractor awards for the GCC countries combined. Accounting for a lion’s share of 58 percent, Saudi Arabia had awarded construction contracts worth US$ 89,747 million in 2012 followed by UAE, with US$ 28,184 million, representing an 18 percent share. The respective main contractor award figures for Qatar, Kuwait, Oman and Bahrain for the year 2011 were US$ 15,657, US$11,089, US$ 7,741 and US$ 1,943 million respectively. The regional governments had initiated massive large scale developments in its infrastructure, economical, industrial and educational projects to revamp the facilities and services provided in their countries since 2010 and 2011 to enhance business opportunities and reduce public debt, which has gradually taken effect and with continued government spending on these critical areas, construction is likely to gradually revive and recover lost ground.

Saudi Arabia has led the transformation in the GCC construction market scenario in recent years with plans to develop six economic cities and other major development schemes. Qatar's successful bid to host the 2022 soccer World Cup is also expected to speed up the regional construction programmes and boost property prices, with contractors expected to flock to the Gulf States to snap up projects worth billions of dollars.

As the GCC construction industry and particularly UAE recovers gradually from the after effects of the global economic slowdown 37 percent of projects continue to be on hold as of November 2012 with UAE accounting for nearly 38 percent of the projects on hold followed by Saudi Arabia with 37 percent. It is however a substantial improvement over 47 percent in 2011. On the other end of the spectrum, growth in construction activities across the comparatively smaller countries of Qatar, Kuwait, Bahrain and Oman are expected to witness steady growth with Qatar in 2012 likely to record a significant growth over 2011 in terms of contracts awarded albeit on a smaller base compared to that of UAE and at a moderate pace except Qatar which is likely to sport a higher growth as contracts for the World Cup 2022 Football event are awarded in chunks in 2012 and 2013.

Within the GCC Construction pie, almost 64% of the total value of projects falls under the Buildings classification. Please note Buildings classification comprises of Buildings as well as Industrial projects. The proportionate percentage for Energy and Infrastructure remained at 25 percent and 11 percent respectively across all countries in GCC.

Backed by its extensive experience in keeping track of construction projects across all regions of Middle East, the team at Ventures Middle East had provided a brief top level overview of the construction sector across GCC regions in this report along with the latest statistics on projects and contractor awards and forecasts for the years 2011-2013.
CHAPTER 1.EXECUTIVE SUMMARY

CHAPTER 2. GCC CONSTRUCTION INDUSTRY – FACTS AND FIGURES

Project Value By sector
Project Value by Status
Main Contractor Awards (All Sectors)
Main Contractor Awards (Buildings Sector Only)

CHAPTER 3. UNITED ARAB EMIRATES (UAE) CONSTRUCTION INDUSTRY – FACTS AND FIGURES

Project Value by Sector
Project Value by Status
Main Contractor Awards (All Sectors)
Main Contractor Awards (Buildings Sector Only)

CHAPTER 4. SAUDI ARABIA (KSA) CONSTRUCTION INDUSTRY – FACTS AND FIGURES

Project Value by Sector
Project Value by Status
Main Contractor Awards (All Sectors)
Main Contractor Awards (Buildings Sector Only)

CHAPTER 5. QATAR CONSTRUCTION INDUSTRY – FACTS AND FIGURES

Project Value by Sector
Project Value by Status
Main Contractor Awards (All Sectors)
Main Contractor Awards (Buildings Sector Only)

CHAPTER 6. KUWAIT CONSTRUCTION INDUSTRY – FACTS AND FIGURES

Project Value by Sector
Project Value by Status
Main Contractor Awards (All Sectors)
Main Contractor Awards (Buildings Sector Only)

CHAPTER 7. OMAN CONSTRUCTION INDUSTRY – FACTS AND FIGURES

Project Value by Sector
Project Value by Status
Main Contractor Awards (All Sectors)
Main Contractor Awards (Buildings Sector Only)

CHAPTER 8. BAHRAIN CONSTRUCTION INDUSTRY – FACTS AND FIGURES

Project Value by Sector
Project Value by Status
Main Contractor Awards (All Sectors)
Main Contractor Awards (Buildings Sector Only)
Methodology
Code of Ethics
Ventures Onsite MENA Projects Database

LIST OF FIGURES

Figure 1: GCC Project Value by Sector (US$ Million)
Figure 2: GCC Project Value by Status (US$ Million)
Figure 3: GCC Main Contractor Awards (US$ Million)-All Sectors, 2011-2013
Figure 4: GCC Main Contractor Awards (US$ Million)-Buildings Sector, 2011-2013
Figure 5: UAE Project Value by Sector (US$ Million)
Figure 6: UAE Project Value by Status (US$ Million)
Figure 7: UAE Main Contractor Awards (US$ Million)-All Sectors, 2011-2013
Figure 8: UAE Main Contractor Awards (US$ Million)-Buildings Sector, 2011-2013
Figure 9: KSA Project Value by Sector (US$ Million)
Figure 10: KSA Project Value by Status (US$ Million)
Figure 11: KSA Main Contractor Awards (US$ Million)-All Sectors, 2011-2013
Figure 12: KSA Main contractor Awards (US$ Million)-Buildings Sector, 2011-2013
Figure 13: Qatar Project Value by Sector (US$ Million)
Figure 14: Qatar Project Value by Status (US$ Million)
Figure 15: Qatar Main Contractor Awards (US$ Million) -All Sectors, 2011-2013
Figure 16: Qatar Main Contractor Awards (US$ Million)-Buildings Sector, 2011-2013
Figure 17: Kuwait Project Value by Sector (US$ Million)
Figure 18: Kuwait Project Value by Status (US$ Million)
Figure 19: Kuwait Main contractor Awards (US$ Million) -All Sectors, 2011-2013
Figure 20: Kuwait Main Contractor Awards (US$ Million)-Buildings Sector, 2011-2013
Figure 21: Oman Project Value by Sector (US$ Million)
Figure 22: Oman Project Value by Status (US$ Million)
Figure 23: Oman Main Contractor Awards (US$ Million) -All Sectors, 2011-2013
Figure 24: Oman Main Contractor Awards (US$ Million)-Buildings Sector, 2011-2013
Figure 25: Bahrain Project Value by Sector (US$ Million)
Figure 26: Bahrain Project Value by Status (US$ Million)
Figure 27: Bahrain Main Contractor Awards (US$ Million)-All Sectors, 2011-2013
Figure 28: Bahrain Main Contractor Awards (US$ Million)-Buildings Sector, 2011-2013
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GCC Construction Industry Facts and Figures November 2012
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