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GCC Construction & Projects Market Update | Colin Foreman, Deputy Editor, Meed.com
INFRACAST | GCC Construction & Projects Market Update | Colin Foreman, Deputy Editor, Meed.com
In today’s show we were joined by Colin Forman from MEED – the go-to news agency for all project and construction news within the Middle East. Colin has been writing about the GCC for over 17 years and is an authority on the subject. To begin, Colin took us through how the GCC market has performed has a whole during Covid and then provided detailed analysis of each of the individuals states.
Key takeaways:
Broadly, the construction and project market has continued during lockdown, with some delays due to site access and supply chain management
Although existing projects continue, the number of awards during lockdown has significantly reduced – leading to potential issues into 2021 and beyond
Major PIF backed projects in KSA are continuing, with ex-pats increasingly being allowed to deliver work remotely
The delay to Expo 2020 in Dubai could potentially help the economy restart in 2021
ADNOC remains the driving force for projects in Abu Dhabi, although it is driving price reductions across its projects
The outlook in the remaining GCC states remains challenging
Looking forward, we also discussed the potential for governments to look again at PPP models and whether an Olympic bid could be the catalyst the market needs.
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By Andrew WardINFRACAST | GCC Construction & Projects Market Update | Colin Foreman, Deputy Editor, Meed.com
In today’s show we were joined by Colin Forman from MEED – the go-to news agency for all project and construction news within the Middle East. Colin has been writing about the GCC for over 17 years and is an authority on the subject. To begin, Colin took us through how the GCC market has performed has a whole during Covid and then provided detailed analysis of each of the individuals states.
Key takeaways:
Broadly, the construction and project market has continued during lockdown, with some delays due to site access and supply chain management
Although existing projects continue, the number of awards during lockdown has significantly reduced – leading to potential issues into 2021 and beyond
Major PIF backed projects in KSA are continuing, with ex-pats increasingly being allowed to deliver work remotely
The delay to Expo 2020 in Dubai could potentially help the economy restart in 2021
ADNOC remains the driving force for projects in Abu Dhabi, although it is driving price reductions across its projects
The outlook in the remaining GCC states remains challenging
Looking forward, we also discussed the potential for governments to look again at PPP models and whether an Olympic bid could be the catalyst the market needs.