MEED reported that opportunities for contractors have dwindled in the real estate sector since the onset of the global slowdown but the GCC’s industrialization plans offer a rich seam of potential work.
As per report, industrialization is a core component of the economic development plans being implemented by the 6 GCC states.
Abu Dhabi, for example, in its Economic Vision 2030 master plan, cites petrochemicals and metals manufacturing as key engines of growth that are vital to the emirate’s development, alongside investment in healthcare and education infrastructure. Each of the Gulf States has initiated a raft of government-backed industrial projects in a bid to diversify their economies beyond a dependence on oil revenues. With these master plans come major contract and supply opportunities for the region’s construction and engineering companies.
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Wednesday, December 16, 2009
GCC industrialization plans offering investment opportunities
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