Egypt, Talaat Moustafa Group eye closer cooperation on hotel, tourism projects    African leaders gather in Aswan to navigate global shifts and continental progress    Egypt's FM joins Sahel region roundtable at Aswan Forum    Egypt successfully hosts Egyptian Amateur Open golf championship with 19-nation turnout    Africa can lead global recovery, Egypt's Sisi tells Aswan Forum    Egypt, WHO sign 2024-2028 country cooperation strategy    Egypt to launch new export system to streamline trade, boost competitiveness    Supply Minister: No change in subsidised bread price amid diesel hike    Health ministers adopt 'Cairo Call to Action' to tackle breast cancer across Eastern Mediterranean    Al-Sisi reviews Cairo Airport's new terminal project designed to handle 30 million passengers annually    Egypt's Al-Mashat discusses MIGA portfolio, second EU assistance tranche with officials    CIB's Hisham Ezz Al-Arab wins Global Finance lifetime achievement award    Pakistan says preemptive strikes thwarted planned militant attacks from Afghanistan    Egypt, India hold first strategic dialogue to deepen ties    Egypt: Guardian of Heritage, Waiting for the World's Conscience    Egypt, Qatar sign MoU to boost cooperation in healthcare, food safety    Egypt, UK, Palestine explore financing options for Gaza reconstruction ahead of Cairo conference    Egypt will never relinquish historical Nile water rights, PM says    Egypt explores cooperation with Chinese firms to advance robotic surgery    AUC makes history as 1st global host of IMMAA 2025    Al Ismaelia launches award-winning 'TamaraHaus' in Downtown Cairo revival    Al-Sisi, Burhan discuss efforts to end Sudan war, address Nile Dam dispute in Cairo talks    Egypt's Sisi warns against unilateral Nile actions, calls for global water cooperation    Egypt unearths one of largest New Kingdom Fortresses in North Sinai    Egypt unearths New Kingdom military fortress on Horus's Way in Sinai    Egypt Writes Calm Anew: How Cairo Engineered the Ceasefire in Gaza    Egypt's acting environment minister heads to Abu Dhabi for IUCN Global Nature Summit    Egyptian Open Amateur Golf Championship 2025 to see record participation    Cairo's Al-Fustat Hills Park nears completion as Middle East's largest green hub – PM    Syria releases preliminary results of first post-Assad parliament vote    Karnak's hidden origins: Study reveals Egypt's great temple rose from ancient Nile island    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Egypt reviews Nile water inflows as minister warns of impact of encroachments on Rosetta Branch    Egypt aims to reclaim global golf standing with new major tournaments: Omar Hisham    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Saudi Arabia To Lead MENA Infrastructure, Construction Spending Over Next 15 Years
Published in Amwal Al Ghad on 23 - 08 - 2012

Saudi Arabia is predicted to lead growth in the Middle East and North African (MENA) region's infrastructure and construction spending over the next 15 years, a report by Bank of America Merrill Lynch said.
The infrastructure and construction market in the MENA region is among the worlds' most attractive due to its size.
A total of $4.3 trillion will be invested in construction projects across the MENA region by 2020, an increase of 80 percent compared with current figures.
Saudi Arabia is expected to take the lead in regional infrastructure spending and construction projects as it responds positively to pressing social needs such as labor, housing and education.
The recent approval of the mortgage law will help drive growth in residential construction in response to the current housing shortage.
The construction and infrastructure sub-sectors in Saudi Arabia grew by 177 percent compared to last year and currently account for 46 percent of the 2012-2013 MENA project pipeline totaling $448 billion, according to the report.
"With its young and expanding population, Saudi Arabia should remain the most buoyant market, in line with its overall economic development plan," the report said.
The MENA region is expected to account for 12 percent of global emerging markets and 4.4 percent of world construction markets within the next decade. Saudi Arabia is expected to continue to lead the way.
Arab News


Clic here to read the story from its source.