GCC Construction Companies (2024 - 2029)

GCC Construction Market Companies Summary

The GCC construction market has faced a myriad of challenges in recent years, including the global pandemic, inflation, and geopolitical issues. These obstacles have put pressure on businesses such as contractors, suppliers, and engineering firms to adapt to the rapidly changing market conditions. Despite these hurdles, there was a strong market rebound, largely due to higher oil prices and the resumption of delayed projects. However, the market did not perform as expected in the following year, mainly due to a significant decline in new contracts in the UAE and Qatar. The GCC region is currently experiencing strong economic growth, moderate inflation, and fiscal surpluses, encouraging firms in Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates to make significant investments in infrastructure. However, without effective policies for planning and managing these public investments, there's a risk that the projects may not achieve their intended goals. This has led to the need for effective public investment management, which involves carefully selecting the right investments and ensuring their proper implementation. The construction market in GCC countries is fragmented, with many businesses having scope for growth. Technological advancements are driving the market in terms of increased transactions and better management of real estate assets.