GCC attracting huge investments in construction, report suggests

constmachinery rhythmuswege pixabayGlobal construction equipment market to hit US$240bn by 2020. (Image source: rhythmuswege/Pixabay)Massive investment in infrastructure projects across the GCC is attracting some of the world’s biggest names in construction, according to dmg events

Nathan Waugh, portfolio director for Middle East Concrete and PMV Live, said, “Contracts worth more than US$193bn in construction industry were expected to be awarded in 2015 alone. We are well on track to meet or even exceed this figure.”

In a report by BMI Research, Qatar offers the highest investment ratio of 17.5; the ratio is calculated by dividing total value of the construction project pipeline with total construction industry value. The UAE is a favourite with global construction firms in the run up to the Expo 2020 event.

Meanwhile, Etihad Railway and Gulf Railway networks top the bill in terms of projects, according to the reports. Contracts for the 628 km Etihad Rail Stage 2 are due to be awarded in 2015 and 2016, and are part of the US$11bn Etihad Rail project.

In response to the booming construction market in the GCC, PMV Live, to be held simultaneously with The Big 5 in Dubai, will host some of the big names in the construction sector including MAN Truck and Bus.

“This is a fantastic testament to the importance big global companies attach to events like PMV Live and the connections it helps them to create within the region,” said Waugh.

Alongside PMV Live, Middle East Concrete provides another regional platform for the concrete industry, which continues to invest heavily in sustainability and a prominent drive for efficiency and green solutions.

The portfolio director added, “Middle East Concrete will showcase more live demonstrations than ever before, providing the industry exclusive access to cutting-edge solutions. One of the things that makes Middle East Concrete and PMV Live so popular is the fact that the events are considered to be the must attend platform for major players representing the entire industry.”

The Big 5 will be held from 23-26 November 2015 at Dubai World Trade Centre.

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