London, 09 October 2014 – TechNavio, a global tech-focused research firm has announced the publication of its market research report on the Construction Spending Market in GCC Countries 2014-2018.
The Gulf Cooperation Council (GCC) has one of the largest construction sectors in the world, and the government in the region pays close attention to the development, maintenance, renovation and operation of the infrastructure sector. The Construction Spending Market in GCC Countries is expected to grow at a CAGR of 37.73 percent over the projected period.
About the Report
The latest report by TechNavio focuses on growing tourism in the region that is boosting the requirement for infrastructure. Construction of mega structures like Burj Khalifa, which is one of the tallest man-made structures, has increased the tourism in GCC countries, which has boosted the economy in the area. The report also highlights the increasing focus on green building, which has become a major trend that is contributing to the growth of construction spending.
“GCC countries have developed their own green building standards through different councils. These councils are effectively working towards making green building standards mandatory in building laws. GCC countries are effectively focusing their efforts on green building construction by formulating strict guidelines for sustainable development,” says Faisal Ghaus, Vice President of TechNavio.
Key Information Covered in the Report:
Market segmentation, size and forecast through 2018
Market Growth Drivers:
- Rapid Population Growth.
- For a full detailed list, view our report.
Market Challenges:
- Condition of Workers.
- For a full detailed list, view our report.
Market Trends:
- Expansion of Transportation Industry.
- For a full detailed list, view our report.
Key Vendors:
- Al Jaber Engineering (JE)
- Arabian Bemco Contracting Co. Ltd.
- Arabtec Construction LLC
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