The Middle East

As the waiting list for government-subsidised housing in Kuwait has grown to more than 100,000 in 2013, projects aimed at combating the shortage will see a number of new construction projects in the coming years. Sluggish residential real estate growth and restrictive legislation have created difficulties for the sector, but new public-private partnerships (PPPs) and improved credit access could help alleviate Kuwait’s housing problems.

A move to bring the marketing and sales side of Qatar’s chemical, fertiliser and polymer operations under one umbrella is an indication of the country’s plans to build a larger and more vibrant downstream petrochemicals sector, which is expected to see increased revenues from plans to more than double production by 2020.

A number of new projects, concentrated on bolstering Oman’s infrastructure backbone, are currently filling the order books of domestic construction firms. However, some industry insiders have warned new regulations and a rising wages bill could see profit margins eroded even as activity increases.

The spate of large defence contracts recently awarded to Abu Dhabi-based firms, together with the emirate’s growing success in attracting investment for technology, has highlighted the key role earmarked for the industry in the emirate’s long-term plans to diversify its economy.

A US offer to back Jordanian bond issues may help lower the Kingdom’s borrowing costs and boost confidence in the country’s securities, which has been dented by regional instability that has slowed economic growth.

Plans to consolidate Turkey’s position as an energy transit bridge appear to have suffered a setback, with a major project to connect the Black Sea and the Eastern Mediterranean put on hold by both the Turkish government and one of the scheme’s key investors, though for different reasons.