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Construction in the GCC will increase in value despite a slight dip in the overall contract awards this year, according to Andy White, vice-president of dmg events ME
The company is responsible for The Big 5 International Building & Construction Show in November and organising The Big 5 from 23-26 November at the Dubai World Trade Centre.
Touted to be the biggest and most popular show in the MENA region, in 2014 the event saw more than 80,000 participants from 147 countries in attendance.
Citing a report published by Ventures Onsite for The Big 5 he said, “The Big 5 in Dubai is a main focus for suppliers to the region from across the world. Major infrastructure projects in Saudi Arabia and the UAE have and will continue to drive diversification, but what we’ve also seen is large-scale investment being sustained across Oman, Kuwait, Qatar, and Bahrain.”
The report, titled GCC Construction Industry – Trends and Challenges for 2015, said that the value of contract awards this year in the GCC could reach over US$194bn. That’s two billion down on last year, but lower oil prices will mean building materials and transport costs will fall and that will filter down to contract values, it added.
White noted, “A lot has been said about how oil prices might affect construction markets. But each of the GCC nations has continued to invest heavily in infrastructure, housing, and healthcare.
“Kuwait has more than trebled its contract awards this year, Saudi Arabia has made it clear that it will continue to invest, and the UAE has revealed more spectacular projects. The GCC Secretariat General has also announced that the Gulf Rail network is meeting construction deadlines and is on track to meet its 2018 deadline.
“To prepare for steadily increasing demand for certified equipment, building materials, and expertise, The Big 5 will increase in size again in 2015. This year, the show will fill the brand new hall space at World Trade Centre with a section called The Big 5 Focus. The Big 5 is the global meeting place for the construction sector and The Big 5 Focus has been designed to make it even easier to find certified products that are available locally.”
As in previous years, two major shows will be co-located with The Big 5 — Middle East Concrete 2015 and PMV Live 2015, the show for all mechanical vehicles involved in construction.
Nathan Waugh, dmg events’ portfolio director for both shows, revealed, “The global construction equipment market is forecast to reach US$241bn by 2020 and growth in the Middle East is a major part of this figure.
“With 36,000 international visitors attending Middle East Concrete and PMV Live last year, we’re excited by the chance to work with exhibitors in showcasing what promises to be a spectacular range of vehicles, heavy machinery, and concrete.”
Some of the major projects awarded to contractors in the first half of 2015 include Metro Phase 1 Systems and New Doha Port Buildings & Infrastructure packages in Qatar, UAE’s Warner Brothers Entertainment Theme Park and Polo Residences in Meydan City, MMRT Phase – 1 and Riyadh Airport Terminal 3&4 Expansion in Saudi Arabia, etc.