The GCC should act now to develop a regional megaproject information and excellence centre to support more than 100 megaprojects with an aggregate value of almost $1n that are due to be delivered in the region by 2025, Arabian World Construction Summit (AWCS) chairman Edmund O’Sullivan told the summit’s opening session this morning.
“The GCC plans for the next decade call for some of the world’s most exciting megaprojects including the GCC railway, Dubai’s World Expo 2020 investment programme, the FIFA World Cup finals in Doha, Saudi Arabia’s massive urban development plans and huge energy projects in Bahrain, Kuwait and Oman” O’Sullivan said. “These awe-inspiring projects will transform the GCC economy and lift the region to a new and higher level of economic and social development. They will boost the GCC economy and create hundreds of thousands of jobs for local people. But they will test policy-makers and service and material suppliers to an extent that is unprecedented.”
“That is why I’m calling today for GCC countries to work together to co-ordinate their megaproject programmes and share knowledge about how to deliver megaprojects successfully,” O’Sullivan said.
The AWCS opened this morning at the Sofitel Hotel on the Palm Jumeirah. More than 400 delegates, speakers and guests are expected to attend the event. The conference will be addressed by 50 speakers and experts from the GCC, Middle East and international projects industry.
According to new figures released by MEED Projects, about $2.5tn worth of major projects are under way or planned in the GCC. A further $1tn worth of projects are under way or planned in non-GCC Middle East markets.
Sponsors and supporters of the MEED AWCS 2014:
- HSBC and CPC are strategic event partners.
- Hyder and Six Construct are Gold partners.
- Agis, Mashreq and Projacs are Silver sponsors and Deloitte is Knowledge Partner.
- EC Harris Built Asset Consultancy is Lunch Sponsor on day one and Bentley is CEO Forum sponsor.
- Aksa, Drake & Scull, Hill International and Zurich are Conference Sponsors.