With the fall in oil prices underlining the dangers of an over reliance on hydrocarbons revenues, Qatar has continued to forge ahead with its economic diversification drive in 2016. Non-hydrocarbons growth now outstrips hydrocarbons growth, with several big-ticket construction projects, an increasingly dynamic financial services sector and a growing reputation as a tourist destination all fuelling non-oil expansion.
Recent measures to levy a tax on empty plots of land in Saudi Arabia are intended to kick-start the residential property sector and tackle the Kingdom’s housing shortage.
Myanmar’s residential property sector has thwarted concerns over slowed sales and investment last year, yet recovery has taken time to gain traction.
From 2010 to 2015 the construction sector regularly accounted for around 5% of Trinidad and Tobago’s GDP, fluctuating from 5.4% in 2010 to 4.7% in 2012. In the Ministry of Finance’s “Review of the Economy 2015” the sector was forecast to have a strong 2015, growing 3.4% and accounting for 5.3% of GDP. In the fourth quarter of 2015 the sector...
Much of the April 2016 mid-year budget review by Trinidad and Tobago’s finance minister, Colm Imbert, focused on the importance of austerity and fiscal prudence, but one project was of particular investment potential.
The Trinidad and Tobago real estate market’s fortunes have long been tied to those of the oil sector. Between 1991 and 2006 house prices more than quadrupled as the country’s hydrocarbons and petrochemicals industries grew strongly. This stoked a construction boom that led to the rapid development of grade-A office and residential properties....
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