Gulf construction contracts to hit $85.6bn

The value of new building contracts in the GCC region will hit $85.6bn in 2017, up 7% from $79.5bn in 2016, according to a report.

A ranking of countries placed the UAE at the top, with an estimated $40.5bn of contract awards coming up this year, followed by Qatar ($16.7bn) and Saudi Arabia ($16bn). The UAE continues a positive trend, after $32.6bn worth of projects were awarded in 2016, the highest value registered since 2008.

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Gulf construction contracts to hit $85.6bn

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