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Published: 08-11-2018
Rising oil prices and increased government spending are powering GCC construction sector’s demand, with contractor awards across the region’s building, infrastructure and energy markets expected to increase from US$ 124,996 Mn in 2018 to US$ 140,585 Mn in 2019. The increase in population, ongoing investments in infrastructure and energy, as well as upcoming mega events such as Dubai’s Expo 2020 and Qatar’s FIFA World Cup 2022 are other factors that continue to drive GCC’s construction activity. The UAE, KSA and Qatar are likely to remain the top markets for construction industry investors and developers. The UAE is expected to be the undisputed leader in the construction industry with Dubai and Abu Dhabi being among the 20 most economical cities for construction costs.
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