It seems that the gloom is lifting from the Middle East’s construction industry as money once again begins pouring into the region and developments that were on hold whir back to life – and new ones get the green light.
Indeed, around US $4.3 trillion (Dh15.8 trillion) worth of projects will be undertaken across the MENA region over the next decade, representing a growth of 20 per cent through 2020 and opening new opportunities for expansion and innovation in the region.
Government-led infrastructure development initiatives will account for a large share of the construction expenditure in the region.
The UAE in particular, represents a key growth destination as recent statistics reveal that more than US 28.8 billion (Dh106 billion) in construction contracts were awarded in 2011 alone, thereby driving the demand for specialised facility management (FM) services in the country.
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Its funny to see all the same headlines as before, Dubai will go wild on construction for another couple of years and fingers crossed wont suffer the same crash as last time.