GCC construction demand seen to soar

DUBAI - Demand for construction machinery in the Middle East is set to soar as the construction industry recovers from the economic downturn and the region forges ahead with major developments.

According to industry experts, there are positive signs of recovery in the Gulf Cooperation Council’s construction industry and there are a number of factors which will drive ongoing demand for machinery.

"As major developers start to repay contractors, they will be able to repay their sub-contractors and suppliers, giving a major boost to the industry as a whole. This will lead to more growth in the sector, and create a renewed demand for construction machinery as new projects get underway," said UAE Contractors' Association General Manager Humaid Salem.

Dr Nasser Hamad Al Hajeri, Chairman of Gulf Automobile Industry Corp. said the scale and number of development projects, particularly in Saudi Arabia, will increase demand for construction machinery.

"We are witnessing high demand in Saudi Arabia and Qatar due to the large number of major construction projects there, and demand is also growing in the UAE," he said.

With more than $1.3 trillion projects on the horizon in the GCC according to the latest data from MEED Projects, manufacturers and suppliers of plant, machinery and construction vehicles will have an excellent opportunity to capitalise on Middle East construction growth when the Big 5 PMV returns to Dubai in November.

Now in its fourth year, the event will take place from November 22 to 25 in The Arena of the Shaikh Saeed Halls at the Dubai International Convention and Exhibition Centre as part of Big 5, the Middle East’s largest and most influential construction industry event, organised by dmg World Media.

Source:
http://www.khaleejtimes.com/DisplayArticleNew.asp?section=business&xfile=data/business/2010/june/business_june100.xml

 
 

 

 

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