22,680 Active Projects Worth US$ 2.6 trillion the GCC Story: Rapid Growth of Construction Industry to Fuel Scaffolding and Access & Utility Equipment Markets in GCC.
Strong Economic Growth: GCC countries are expected to see a pick-up in economic growth in 2018 and 2019 thanks to the higher oil prices and improved output, along with some easing in fiscal consolidation.
GCC’s construction industry is upbeat foreseeing growth: The combined value of the 22,680 active construction projects in the GCC has exceeded US$2.43 trillion in Nov 2017 itself. Kingdom of Saudi Arabia (KSA) has more than 5000 active projects worth US $ 819 billion. Indeed, UAE remains No.1 construction market in the GCC, and is on track to deliver growth in 2018-19 in the lead-up to Expo 2020.
Expo 2020 Dubai spearheading growth in construction sector: Hectic construction activities of Expo 2020 projects have kept Dubai's construction sector busy. Number of construction cranes and the workers has gone up significantly within Dubai South - where the Expo 2020 village will be located. Total value of major Expo-related construction projects reached US $ 42.5 billion by the end of March 31, 2018, driven by both public and private sectors. The majority of these projects are poised to complete before Expo begins in October
2020, resulting in massive job creation as well.