|Infrastructure project awards across the GCC are forecast to exceed $86bn in 2014, an increase of 77.8% over 2013.|
New figures released by construction intelligence firm Ventures Onsite show a dramatic increase in contract awards across the region, in every country except Saudi Arabia.
Qatar will award projects worth $26.2bn compared with just $9.4bn last year while Kuwait is expected to award $3.45bn, almost 10 times the previous year.
In the UAE, $15.18bn will be awarded, almost five times the 2013 contracts, while in Oman infrastructure awards are expected to reach $7.4bn - up $5.5bn on 2013. Meanwhile Bahrain, which awarded $382mn last year, is expected to award $3.4bn.