The Middle East

The real estate market in Abu Dhabi is continuing to undergo a period of correction, with prices flat, slower demand and more supply expected to come to market in 2012. But while the market is expected to remain subdued in the near future, new real estate laws anticipated in 2012 could improve the situation in the longer term.

As the Middle East and North Africa’s top health tourism destination, according to the World Bank, Jordan and its medical tourism sector are looking for ways to regain their competitive edge after regional unrest in 2011 impacted revenues. To confront declining medical tourist numbers, Jordan will host two major international health expos in 2012 and will also be promoting its Dead Sea region.

Saudi Arabia’s construction industry has been forecast to be one of the Kingdom’s best performing sectors in 2012, with an increasing flow of state contracts coming its way. However, bottlenecks in the materials supply chain and high demand for labour and resources could push up prices.

Further progress towards the construction of a national rail network, along with long-awaited expansions in the port system, are highlighting Oman’s potential to become a lynchpin for commercial transport in the GCC. A special body will be set up within the Ministry of Transport and Communications to facilitate the installation of a new rail network in the Sultanate, Ahmed bin Mohammed Al Futaisi, the transport and communications minister, said.

Curriculum development and a new qualifications framework are essential components of Bahrain’s improvements to its education system and take into account the changing needs of the Kingdom’s economy and society. On January 8, the local press reported that the education ministry was calling for the formation of a commission to review all school curricula, bringing in international experts to advise on reform.

Oil production in Kuwait continues to increase, having reached 3m barrels per day (bpd) as of early December. Output could expand further in the longer run, according to officials from the Kuwait Oil Company (KOC), which recently said that it would be necessary to tap into the country’s heavy oil reserves to reach its 4m bpd capacity goal by 2020. At the same time, the country is also looking abroad for additional energy sources.