MEED Insight head Ed James told the annual Arabian World Construction Summit (AWCS) in Dubai this morning that the value of new contract awards in the GCC so far this year had already reached $60bn.
The largest market for new contracts awarded in the first quarter of 2014 was Kuwait, James said.
James told the AWCS that the value of new contracts in the GCC could rise by 20 per cent to $178bn in 2014.
The three-day AWCS 2014 is being held at the Sofitel Hotel on Palm Jumeirah.
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.
To see more about AWCS 2014, go to www.meed.com.