The MEED Projects index estimated that Gulf has reached a staggering $2 trillion worth of projects. The UAE remains the biggest projects market in the Gulf, accounting for 37% of the total project value. It has also registered the highest growth, with total project values in the federation rising by 46% over the past 12 months.
Only a quarter of all projects tracked by MEED Projects are actually construction implying that there is another 3-5 years of further intensive construction activity to come.
There have been a series of major real estate projects announced in recent months, reinforcing the sector's dominance of the projects market and pushing the overall value beyond $2 trillion. Major new real estate projects include;
MEED Projects current value of investment in the Gulf by sector:
- Construction = $1,207 billion
- Industry = $70 billion
- Oil & Gas = $430 billion
- Petrochemicals = $135 billion
- Power = $134 billion
- Water & Waste = $40 billion
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