GCC projects market expected to recover from slump

MEED Projects predicts a total of $61bn of deals will be let in the second half of this year

There ​has been little good news for the region’s beleaguered projects market supply chain in recent times. Since oil prices started to fall in mid-2015, the volume of project activity in the GCC has experienced a similar decline, culminating in a 13-year low of just $117bn of contract awards in 2016. Therefore, any sign of an improvement in the market’s fortunes will be solidly grasped as an indicator of better times to come. Unfortunately, based on the latest data…

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