DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/ba7457/saudi_projects_mar) has announced the addition of the "Saudi Projects Market 2012 report" report to their offering.
The total value of contracts awarded in the kingdom hit $66bn in 2011, a 6 percent increase on the previous year. The steep slowdown in activity in the UAE means that Saudi Arabia is now by far the largest projects market in the region, worth almost as much as the other five GCC states combined. With more than $300bn worth of projects planned and un-awarded, the kingdom has also by far the largest future projects market.
There are several key factors driving project growth in the kingdom. The most obvious is record high oil prices which enable the government to increase its capital projects outlay. Demographic growth is also critical as a larger population and a booming economy result in the need to invest in utilities and transportation infrastructure. The Arab Spring too has acted as an impetus for Riyadh to accelerate spending on social infrastructure schemes.
For most companies and professionals involved in the regional projects market the sheer size and potential of the Saudi Arabia projects market makes it the number one opportunity in the region, says Ed James, Head of MEED Insight. With the UAE projects market declining, and Qatar yet to really get going with its project plans, Saudi Arabia is the only GCC projects market to offer immediate opportunities for many companies.
What's equally important is that the Saudi projects market is based on a fundamental need for investment rather than speculation. The combination of this need and the ability to pay to meet this need will ensure that market can only go from strength to strength, as such, MEED Insight forecasts that the Saudi Arabia projects market will grow 10 per cent to $72bn worth of contract awards in 2012 spurred by increased investments in the construction, petrochemicals and power sectors,' adds James.
About This Report:
More Than 100 Pages, Exclusive And Comprehensive Data, Research And Analysis On The Saudi Projects Market
Along with providing a detailed analysis of the Saudi projects market and the significant role it plays in the local economy, this report offers you a comprehensive overview of key project sectors and the kingdom's additional capacity and new investment requirements.
You Will Benefit from Detailed Insight Into:
- Project opportunities in the region's largest projects market
- Gaining a thorough understanding of the different dynamics driving the projects market
- Key data on sector size and historical growth
- Identification of the key current and future projects
- The top contractors and clients
- Sector forecasts
For more information visit http://www.researchandmarkets.com/research/ba7457/saudi_projects_mar