Overall, the GCC has been on growth track with regard to construction projects
In the GCC construction continuum, Saudi Arabia is topping the value of construction orders with AED 3.29trillion, closely followed by the UAE with AED 3.05trillion worth of construction projects, a freshly released BNC Construction Intelligence Report has indicated.
Key highlights are as follows:
- The combined value of all construction projects in the GCC reached US$ 2.52trillion (AED 9.25trillion) in June 2019
- The value of 16,732 under construction projects reached US$ 769.2billion (AED 2.82trillion)
- The value of 4,980 projects that are in concept, design and tender stage reached US$ 898.9billion (AED 3.29trillion)
UAE-based BNC, one of the largest project intelligence providers in the MENA region, has tracked more than 32,000 live construction projects with a value exceeding US$ 7.7trillion (AED 28.3trillion)
The total value of more than 26,000 construction projects exceeded US$ 2.52trillion (AED 9.25trillion) in June 2019, according to the June 2019 Issue of the BNC Projects Journal: The Next Construction Circus – Setting the Stage for Growth, a major comprehensive construction intelligence platform in the Middle East and North Africa (MENA) region.
Economic powerhouse Saudi Arabia leads the GCC region in the total value of construction projects worth US$ 895.8billion (AED 3.29trillion), followed by the UAE with projects valued at US$ 830.6billion (AED 3.05trillion) are at various stages of planning, development and execution in the Kingdom.
“The UAE and Saudi Arabia are pulling out all the stops, tearing down doors that impede trade and eliminating business barriers. The GCC is working on building bridges economically, digitally and physically with a far-sighted vision for a future Arab world that is much more deeply integrated and pivotal to global progress,” asserted Avin Gidwani, Chief Executive Officer, BNC Network.
MEP in the lead
In the BNC Projects Journal, BNC offers the latest industry news and information along with detailed analysis and the current market outlook of the construction sector – which is very crucial for those involved in construction, sub-contracting, mechanical, electrical and plumbing (MEP) as well as building materials supply businesses.
“BNC Projects Journal has been designed to offer the maximum benefits of construction intelligence – project information and analytics – for them to gain valuable insights from our vast database of more than 32,000 live projects,” Gidwani continued.
“This is the only credible reference for the construction industry for projects intelligence in the Middle East and North Africa region. Our team of analysts assisted by technology now publishes an over-whelming 1,700+ GCC construction info-graphic reports every year, providing deep, fact-based construction market insights on countries, cities, sectors and even specific industries,” he continued.
The BNC Projects Journal has been created to encapsulate the essence of these construction analytics, our daily project stories and socio-economic happenings that influence construction.BNC Projects Journal provides the real story of GCC construction as it happens in a concise and actionable form that allows users to drill down from a story for greater depth and information.
Urban Construction Projects
The total value of urban construction projects exceeded US$1.12 trillion (Dh4.11 trillion) in June 2019, according to the latest BNC Projects Journal.
The UAE leads the GCC region with urban construction projects worth US$ 476.5billion (AED 1.75trillion), followed by Saudi Arabia with projects valued at US$ 406.2billion (AED 1.49trillion).
In May 2019, new project announcements worth US$ 5.3billion were recorded by BNC Network and new contract awards estimated at US$ 1.7billion while project completions reached a whopping US$ 9billion for the month.
“Even though the month of Ramadan saw activity slow down, led by the US$ 5billion Bunker Fuel Oil Refinery in Fujairah, the UAE led projects announcements in the GCC which are estimated at a healthy US$ 17billion for May 2019,” the report added.
“With close to US$ 19billion worth of work completed, May registered relatively high project completions. The UAE alone saw US$ 7.7billion worth of projects completed, while Kuwait and Qatar also registered major projects completions with the successful handover of the US$ 2.4billion Sheikh Jaber Al Ahmad Al Sabah Causeway Main Link and two Red Line projects in Qatar worth US$ 2.8billion.”
The value of 13,927 GCC Urban Construction projects that are under construction rose to US$ 308.3billion (AED 1.13trillion) in June 2019. The value of 4,980 Urban Construction projects that are in concept, design and tender stages reached US$ 256.1billion (AED 939.88billion).
Table I
GCC Total Construction Project Value in June 2019:
| Country | Value (US$) | Project Value (AED) | Percentage |
| KSA | US$ 895.8 billion | AED 3.29 trillion | 36 |
| UAE | US$ 830.6 billion | AED 3.05 trillion | 33 |
| Oman | US$ 226.5 billion | AED 831.25 billion | 09 |
| Kuwait | US$ 226.5 billion | AED 831.25 billion | 09 |
| Qatar | US$ 226.5 billion | AED 831.25 billion | 09 |
| Bahrain | US$ 105.4 billion | AED 386.81 billion | 04 |
| Total GCC | US$ 2.52 trillion | AED 9.25 trillion | 100 |
Table II
Urban Construction Project Value in June 2019:
| Country | Project Value (US$) | Project Value (AED) | Percentage |
| UAE | US$ 476.5 billion | AED 1.75 trillion | 42.92 |
| KSA | US$ 406.2 billion | AED 1.49 trillion | 36.59 |
| Qatar | US$ 74 billion | AED 271.58 billion | 06.66 |
| Oman | US$ 62.4 billion | AED 229 billion | 05.62 |
| Kuwait | US$ 53.5 billion | AED 196.34 billion | 04.81 |
| Bahrain | US$ 45.9 billion | AED 168.45 billion | 04.13 |
| Total-GCC | US$ 1.12 trillion | AED 4.11 trillion | 100 |
Table III
Current Building Projects:
| Project Status | No of Projects | Value in US$ | Value in AED |
| Under Construction | 16732 | US$ 769.2 billion | AED 2.82 trillion |
| Concept Design & Tender | 4980 | US$ 898.9 billion | AED 3.29 trillion |
