São Paulo – The countries of the Gulf Cooperation Council (GCC) are expected to execute construction projects worth a total of US$ 500 billion in 2012. So says the annual report of consulting firm Deloitte, “GCC powers of construction 2012: five lessons to learn,” published last week.
According to the survey, the leading opportunities are in Qatar and Saudi Arabia. Qatar will carry out several infrastructure projects, according to Deloitte, because it will host the 2022 FIFA World Cup. Saudi Arabia, in turn, has a US$ 400 billion investment program in the next ten years.
Most of the projects in the region will be related to the oil industry, transport infrastructure and social development in fields such as healthcare and education. According to the report, the countries in the region, which are oil exporters, are looking to diversify their economies. This is especially true of Saudi Arabia, Qatar and the United Arab Emirates.
“These countries are now looking at how to take advantage of existing strengths to develop upstream industries – and the focus has shifted to construction,” the document claims. In addition to Saudi Arabia, Qatar and the Emirates, the GCC includes Bahrain, Kuwait and Oman.
*Translated by Gabriel Pomerancblum
