Construction spending in the six Gulf Cooperative Council nations is expected to rise from about $315 billion this year to $350 billion in 2010, according to new data from Proleads Global released on Aug. 13 in a SmartMarket Executive Brief, by McGraw-Hill Construction, the publisher of ENR, along with the Chartered Institute of Building. + Image Image: McGraw-Hill Construction Rapid spending on construction has been affected by the downturn in development in the United Arab Emirate of Dubai, says the report. Overall, residential and commercial activity in the GCC, which consists of Bahrain, Kuwait and Oman, Qatar, Saudi Arabia and
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.