How does the US election result affect the GCC construction industry?

November 09, 2016

undefinedThe truth is that, despite the twists and turns of the presidential campaign, nobody really knows whether the shockwave of human reaction will affect day-to-day business in our region. As an indicator, we had another big shock recently with the Brexit result and in the same way, there was much speculation on the implications for our industry in the region, which might give us an indication of what to expect.

What happened in the aftermath of the Brexit announcement? It transpired that it was pretty much business as usual and our industry remained largely unaffected by Brexit. Why? Because the GCC is firmly set on a trajectory of infrastructural development to realise the strategic Visions of the governments in the region.

On the same day as we learn that Trump has won the support of US voters, Dubai Canal opened today – it is an appropriate reminder that construction projects in this region are continuing to move forward and our progress towards Expo 2020 Dubai is flowing ahead.

Qatar will announce the final count for the number of stadiums at the end of the year, another landmark, record-breaking structure is planned for Dubai, Saudi Arabia will be building 1.5 million homes over the next eight years. The Big 5 Dubai is expected to bring over 70,000 industry professionals from around the world to source products, network and do business this month, in preparation for business next year.

Separating sentiment from the equation, in the face of the election result, it is business as usual in the region for the construction industry, as the IMF forecasts continued growth going into 2017 as everyone digests the US election result, as they did the Brexit vote.

 

 

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