The 2024 outlook for the MENA region's project market is exceptional, with an anticipated surpassing of $270 billion in value, according to a latest report.
GCC banks navigate rising rates with record lending
Despite global credit risks, GCC banks thrive with overall lending growth, bolstered by strong performances in Saudi Arabia and the UAE, and robust economic indicators.Huge investments propel GCC project sector growth
The GCC project sector, one of the world's most dynamic, has recorded a significant surge in project awards, reaching $41.8 billion in the third quarter of 2023, says a report.
GCC project awards surge by 86% to $49.7bn in Q2
The highest quarterly project awards value in over five years showcases the region's determination for diversification, and reflects the strength of GCC economies.GCC project awards surge despite economic challenges
Saudi Arabia remains the largest projects market in the GCC as the total value of contracts awarded increases by 54.7 percent YoY during Q1-2023 to US$29.9bn, says a latest report.Global economic woes take toll on GCC contracts
High inflation and the West's sanctions on Russia for its Ukraine invasion besides the supply chain disruptions caused by China's intermittent Covid-19 restrictions intensify the decline.
