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GCC construction project value exceeds Dh9.25 trillion in June 2019, BNC Construction Intelligence says


The total value of more than 26,000 construction projects exceeded US$2.52 trillion (Dh9.25 trillion) in June 2019, according to the June 2019 Issue of the BNC Projects Journal: The Next Construction Circus – Setting the Stage for Growth, issued by BNC Network, the largest and most comprehensive construction intelligence platform in the Middle East and North Africa (MENA) region.

 Saudi Arabia leads the GCC region in the total value of construction projects worth US$895.8 billion (Dh3.29 trillion), followed by the UAE with projects valued at US$830.6 billion (Dh3.05 trillion) 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, destroying business barriers and smashing the visa wall as its American ally does the diametric opposite. While America systematically isolates itself from its immediate neighbours, China, and Europe, 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,” Avin Gidwani, Chief Executive Officer of BNC Network, says.

 

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,” Avin Gidwani says.

 “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 publish 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.”

 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$476.5 billion (Dh1.75 trillion), followed by Saudi Arabia with projects valued at US$406.2 billion (Dh1.49 trillion).

 In May 2019, new project announcements worth US$5.3 billion were recorded by BNC Network and new contract awards estimated at US$1.7 billion while project completions reached a whopping US$9 billion for the month.

 “Even though the holy month of Ramadan saw activity slow down, led by the US$5 billion Bunker Fuel Oil Refinery in Fujairah, the UAE led projects announcements in the GCC which are estimated at a healthy US$17 billion for May 2019,” the report said.

 “With close to US$19 billion worth of work completed, May registered relatively high project completions. The UAE alone saw US$7.7 billion worth of projects completed, while Kuwait and Qatar also registered major projects completions with the successful handover of the US$2.4 billion Sheikh Jaber Al Ahmad Al Sabah Causeway Main Link and two Red Line projects in Qatar worth US$2.8 billion.”

 The value of 13,927 GCC Urban Construction projects that are under construction rose to US$308.3 billion (Dh1.13 trillion) in June 2019. The value of 4,980 Urban Construction projects that are in concept, design and tender stages reached US$256.1 billion (Dh939.88 billion).

 BNC, the largest project intelligence provider in the MENA region, tracks more than live construction projects with a value exceeding US$7.7 trillion (Dh28.3 trillion). It publishes more than 250 project updates and shares construction intelligence with more than 73,000 executives and professionals every day.

 

Table

 

GCC Total Construction Project Value in June 2019

 

Country            Value in US$                Project Value in AED    Percentage

KSA                 US$895.8 billion            Dh3.29 trillion                36

UAE                 US$830.6 billion            Dh3.05 trillion                33

Oman               US$226.5 billion            Dh831.25 billion            09

Kuwait              US$226.5 billion            Dh831.25 billion            09

Qatar                US$226.5 billion            Dh831.25 billion            09

Bahrain             US$105.4 billion            Dh386.81 billion            04

Total GCC        US$2.52 trillion            Dh9.25 trillion              100

 

Urban Construction Project Value in June 2019

 

Country            Project Value in US$    Project Value in AED    Percentage

UAE                 US$476.5 billion            Dh1.75 trillion                42.92

KSA                 US$406.2 billion            Dh1.49 trillion                36.59

Qatar                US$74 billion                 Dh271.58 billion            06.66

Oman               US$62.4 billion              Dh229 billion                 05.62

Kuwait              US$53.5 billion              Dh196.34 billion            04.81

Bahrain             US$45.9 billion              Dh168.45 billion            04.13

Total GCC        US$1.12 trillion            Dh4.11 trillion              100

 

Building Projects

 

Project Status                          No of Projects  Value in US$                Value in AED

Under Construction                  16,732              US$769.2 billion            Dh2.82 trillion

Concept, Design and Tender    4,980                US$898.9 billion            Dh3.29 trillion

 

 About BNC

BNC, the largest project intelligence provider in the MENA region, tracks more than 32,000 live construction projects with a value exceeding US$7.7 trillion (Dh28.3 trillion). It publishes more than 250 project updates and shares construction intelligence with more than 73,000 executives and professionals every day.

 

It is used by thousands of business leaders and construction industry professionals around the world to track developments, gain insight on projects and do business in the construction industry. BNC covers construction projects, across all sectors including urban construction, mega developments, transportation, utilities, industrial developments and oil and gas and publishes over 2,000 construction analytics annually based on extensive research and analysis.