The Middle East’s EPC sector is currently expanding at a faster rate than any other region in the world at between 4% and 6% 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 market continue positive 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.
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 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.
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 is 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.