The Middle East’s EPC sector is currently expanding at a faster rate than any other region in the world at between 5.5% and 6.3% in the 2nd half of 2017. Countries such as Bahrain, Kuwait, Oman, Qatar & the UAE are experiencing decent growth & prosperity. The later mentioned Middle East countries will continue to experience reasonable construction growth in the range of 3.3% to 4.5% for the 2nd half of 2017. Most of this growth will be fueled by energy / infrastructure projects.
Some Middle East / North African countries such as Egypt, Libya, Syria, Jordan & Algeria continue to endure political & economic stagnation. Activity is down perhaps 5% to 10% from 2 to 3 years ago, but the outlook for construction work still remains decent in the (GCC).
Israel’s economy & construction markets continue a positive path as we move into the 2nd half of 2017. There are plenty of energy & non-oil related construction projects & opportunities that are still to be had.
In Saudi Arabia, there are new economic financial / trade centers, the 100 mile Riyadh metro line 1 & 2 c/w 80 + stations, high rise offices, airports; hospitals & sport stadiums are all going forward with construction plans.
Dubai is one of the fastest growing cities in the world. Qatar has no lack of construction work on high rise offices, airports; apartments, hospitals & sport stadiums. Egypt, Libya, Syria, Jordan, Tunisia & Algeria will continue to see zero growth in their construction sectors.
In Bahrain, Kuwait & Oman there are plenty of high rise offices, airports; hospitals, schools, light rail transportation, rail links, electrical & water utility upgrades / infrastructure projects in the pipeline. In the UAE, there are new railway / metro systems, a nuclear power plant, large shopping centers, hotels, high rise offices, the 2020 Expo Trade Center, airport expansions, hospitals & sport stadiums that are all moving ahead with construction. The Gulf Cooperation Council (GCC) economies are forecast to grow by 3.5% to 5% in in the 2nd half of 2017.