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Middle East construction to grow by 19%

Middle East: Wednesday, September 04 - 2013 @ 15:23

Projects worth $64.5bn are due to be awarded in H2 of 2013, according to Aldes Middle East. Both predictions factor in Qatar, which sees continued investment in construction and real estate.

Given the Gulf state’s immense growth potential of the construction and real estate sector, the fittings provider has stepped up its expansion initiative, with the planned opening of a new office in Doha.

Planned construction in Qatar is worth more than $266bn and accounts for approximately 15 per cent of all GCC projects. The region’s construction market is seeing unprecedented expansion with a boom covering most sectors, including basic infrastructure, such as oil and gas related transport links and all building work related to the FIFA World Cup 2022.

Future projects may include initiatives by Qatar Rail, the Public Works Authority and Kahramaa (the general electricity and water corporation). The government of Qatar has allocated 40 per cent of its budget (2012 to 2016) to infrastructure projects alone, in line with National Vision 2030.

“The upbeat forecast on the segment’s growth has prompted us to implement initiatives that aim to strengthen our operations – opening new offices in strategic locations, hiring more people and re-launching optimised versions of our existing products,” says Morane Rey-Huet, international director, Aldes.

He adds: “At the same time, the emergence of newer projects has also seen an increased demand for products that conform to set green building standards. Aldes is confident in capturing this market by leveraging its diverse portfolio of world-class highly eco-friendly products across these projects in the region.”

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Wednesday, September 4- 2013 @ 15:23 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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