GCC completed construction projects worth $68.7bn in ’12

DOHA: Building projects worth over $68.7bn were completed in the GCC in 2012 according to an in-depth sector report. The report, commissioned by dmg: events, the organising team behind INDEX, and conducted by Ventures ME, forecasts a  19 percent sector growth this year, with completed construction projects set to reach $81.6bn.
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The value of new construction projects in the GCC is also expected to rise in 2013, with projects valued at $64.5bn set to be awarded to contractors over the coming 12 months. This figure shows a sharp increase, up by a third (33 percent) on the value of projects awarded in 2012 ($48.4bn). 
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In 2012, residential, commercial and hospitality sectors led the GCC projects market; with $29.4bn, $12.2bn and $5.5bn worth of projects completed respectively. Education, medical and retail sectors were other significant contributors, with completed projects worth $5.2bn, $3.3bn and $2.4bn respectively.
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In 2013, a two-paced growth is likely with residential, retail and commercial sector construction projects growing at slower rates of 4.4 percent, four percent and 13 percent to $30.7bn, $2.5bn and $13.8bn respectively. 

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