Awards for commercial and civil infrastructure projects in the Gulf region reached values of $86bn in 2014, up 78% on 2013 contract awards.
The materials handling sector has seen huge gains on the back of the announcements with logistics and warehousing leading the way, and demand growing.
“The continued growth in the sector can not only be attributed to the ongoing infrastructural development across the region, but also to increasing demand for a streamlined supply chain and logistical framework from a growing number of regional businesses,” said Ahmed Pauwels, chief executive officer of Messe Frankfurt Middle East, organiser of Materials Handling Middle East 2015.
It was reported in Q3 2014, that projects were likely to reach valued $86bn, following the announcement of massive rail projects, road and water works. Infrastructure comprised 16% of total construction spending in GCC projects.
Pauwels added: “As the premier trade event in the region for the industry, Materials Handling Middle East provides exhibitors and trade buyers with a dedicated networking platform and unmatched business promotion and development facilities.” Materials Handling takes place in September at Dubai World Trade Centre.
How it was spent: Country by country
Qatar: $26.2 billion, up from $9.4bn in 2013.
Kuwait: $3.45 bn, almost 10 times the value awarded in 2013.
UAE: $15.18 bn, almost five times that of 2013 contracts.
Oman: $7.4 bn up by $5.5bn on 2013.
Bahrain: $3.4bn projected for 2014, compared to $382 million in 2013.
Saudi Arabia: $29.34bn – the highest in the region but a decline on 2013.
