The UAE is poised to be the most active market in the Gulf Cooperation Council (GCC) region with more than $714.8 billion of construction projects that are currently under construction or at the design stage, a news study from Dubai Chamber of Commerce and Industry showed. The second most active construction market in the region, with $283.8 billion worth of projects, is Saudi Arabia followed by Kuwait with $184.4 billion of projects. Qatar has construction projects being planned or underway to the value of $92.6 billion. Oman has $48.3 billion and Bahrain got $44.1 billion projects under way. The study showed that in recent months contractors have entered new markets, switching focus from private to public sector schemes and forming new alliances in an effort to win work in an increasingly competitive environment. The study noted that five of the 10 largest construction and infrastructure projects by value in the GCC region are planned or already under construction in Abu Dhabi. The five are the $40 billion development of the Capital District situated between Abu Dhabi International airport and Mohammed bin Zayed City, the $37 billion Yas Island development, the $27.5 billion development of Sadiyat Island, the $22 billion creation of the Masdar sustainable city, the $15 billion development of Al Raha Beach and the $12 billion Road Transport Authority project to construct 500 km of roads. The UAE also plans to expand its rail network and invest in hospitals, schools and museums.
