The GCC construction industry foresees growth from 2015-2018, encouraged by factors such as favourable macroeconomics, positive demographics, and rising tourism activities. Higher budget allocation towards construction sector, as part of the strategic vision of the member nations, lends an added push to the industry, according to Sameena Ahmad, Managing Director, Alpen Capital (ME) Limited .
Alpen Capital announced at the weekend the publication of its GCC Construction Industry report which provides a perspective on the overall GCC construction industry, its market structure, and the key sub-segments of the construction market ie residential, office, retail, hospitality, healthcare, leisure and infrastructure. The report includes a discussion on the overall fundamental growth drivers, challenges, developments, and recent trends in the construction industry, along with the profiles of leading players in the region.
The GCC governments' challenge to diversify their economies from oil & gas and their consistent focus on infrastructure development across sectors has kept the construction industry in focus, says Sanjay Bhatia, Managing Director, Alpen Capital Investment Bank (Qatar) LLC.
"Activity in sectors across infrastructure, residential, commercial, hospitality, retail, etc, have taken centre-stage in inviting global participation and attracting the attention of businesses and tourists alike. Although investments are directly dependent on the pace of each Government, we believe that the GCC region continues to be a desirable location with accelerating growth prospects for the near future," Bhatia commented in the report.