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85.6 billion dollars building contracts awarded in GCC in 2017

UAE - May 18, 2017

According to GCC Building Construction Market Report, the value of building contracts in GCC awarded in 2017 are expected to reach 85.6 billion dollars.

The report mentioned that 2017 records a 7% when compared to 2016 building contracts.

UAE comes on the top of this list with an estimated 40.5 billion dollars of buildings contracts to be awarded during 2017.

Whereas, Qatar came in second with an estimated 16.7 billion dollars and Saudi Arabia at the third place with an estimated 16 billion dollars.

It is worth mentioning that almost 45% of these projects are in the pre-construction phase while 32% are at the tendering stage.

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