This GCC Building Construction Market Report, which was created by Ventures Onsite on behalf of The Big 5 Heavy, states that UAE tops the regional ranking, with an estimated $40.5 billion of building contractor awards predicted during 2017. Qatar is in second place with $16.7 billion and Saudi Arabia is in third with $16 billion.
According to these figures, there is an increase of close to 7%, compared to the $79.5 billion new construction contracts awarded in 2016.
The UAE also topped the GCC league table in 2016, with $32.6 billion worth of project awards – the highest figure since 2008.
The report has also added that around 45% of building projects in the GCC are currently in the pre-construction phase, while 32% are at the tendering stage.
Previously co-located with The Big 5 show in Dubai, the Middle East Concrete (MEC) and PMV Live events will now run independently as The Big Heavy, taking place from 26-28 March, 2018 at the Dubai World Trade Centre (DWTC).