GCC infrastructure contract awards forecast to top
$45 billion in 2014
New Ventures report shows spending will double this year
Dubai, United Arab Emirates –15 October 2014 –A new report forecasts that a more than USD45 billion of infrastructure contracts will be awarded to by the end of 2014 - double the USD22.6 billion awarded in 2012.
The report “GCC infrastructure Market 2014” gives a snapshot of the billions of dollars being spent across the region with a focus on five areas: rail, roads, airports, ports and free trade zones.
The report also calculates that USD97 billion of rail contracts are already underway as all six countries work towards the planned 2,117km GCC-wide rail network by 2018.
The Ventures report says almost USD300 billion will be spent on airports in the Middle East over the next five years with passenger numbers in the GCC expected to reach almost 4 billion by 2017. And every GCC country is involved in expanding its seaports with an estimatedUSD25 billion of ports expansion and investment planned.
Qatar has invested USD8.2 billion on a state-of-the-art industrial port, Doha’s New Port Project, which is set to be completed ten years ahead of schedule in 2020.
Alongside its analysis of the current infrastructure market, the report prepared by Ventures Middle East in association with The Big 5 construction exhibition taking place in Dubai in November, gives guidance on licensing and registering your product or service in the region.
A vital part of a country’s infrastructure development is free trade zones and all countries in the GCC except Saudi Arabia offer them, though the UAE has the vast majority with 20.
The report says: “Free Trade Zones, or Special Economic Zones, are designated areas where governments allow businesses to set up. The UAE has the highest number of Free Zones in the GCC at 38, 20 of which are in the Emirate of Dubai.”
The report explains how they benefit foreign companies and suppliers and offers a checklist for any company looking to do business in the lucrative infrastructure sector.
Adil Al Zarooni, senior vice president of sales Jebel Ali Free Zone (JAFZA) and Economic Zone will be one of the keynote speakers at the How to Trade Seminar.
He will offer an insight into the way free zones operate across the GCC. He says: “I will be speaking about the types of businesses and industries that will be attracted and I will highlight some of the success stories from Jafza.”
The Big 5 runs from 17 – 20 November at the Dubai World Trade Centre and is open from 11:00am to 7:00pm daily.
About The Big 5
Launched in 1979, The Big 5 International Building and Construction Show is the Middle East’s largest construction exhibition.
With the 35th edition running from 17 - 20 November, 2014 at the Dubai World Trade Centre, The Big 5 in the UAE hosts more than 2,700 international exhibitors from nearly 60 countries, and welcomes more than 74,000 participants from 124 countries. The Big 5 also recently expanded to deliver three dedicated shows in Saudi Arabia, Kuwait and India. For more information visit www.thebig5.ae
The Big 5 and co-located events PMV Live and Middle East Concrete offer a 360 degree platform to the building and construction industry, as the largest international building construction, concrete and heavy machinery gathering place in the region. The three shows provide unparalleled access to industry knowledge with 45 free to attend accredited seminars taking place, as well as key conferences and live demonstrations conducted on-site.
About PMV Live and Middle East Concrete
Co-located with The Big 5 International Building and Construction Show, niche construction events Middle East Concrete and PMV Live are the region’s most important meeting points for heavy construction machinery, plant equipment, commercial and construction vehicles, and concrete.
The pioneering shows bring together more than 355 exhibitors from over 32 countries with more than 20,000 international participants. For more information visit www.pmvlive.com and www.middleeastconcrete.com
About dmg events
An international exhibition and publishing company, dmg events produces market-leading B2B exhibitions and conferences across the Middle East, America, Europe and Asia.For more information visit www.dmgeventsme.com