The construction sector grew by 13% y-o-y in third-quarter 2013, driven primarily by spending on transport infrastructure. With more than $222bn of projects in the pipeline, sector growth has been forecast at 15% for 2014, while spending on infrastructure is set to reach $150bn in the run-up to the 2022 FIFA World Cup. The scale of construction activity in the region has created some challenges...
Construction
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Chapter | Construction from The Report: Qatar 2014
For the past decade Panama has registered impressive economic growth. According to the World Bank, GDP growth averaged 6.8% from 2000 to 2012, while government figures show double-digit growth for four of the past seven years. Economic development has been fuelled by heavy public sector spending on infrastructure, particularly the $5.25bn expansion of the Panama Canal, which should ensure long-term growth.
Although the emirate’s economic growth can be primarily attributed to its vast hydrocarbons resources, it has also made progress diversifying into new sectors such as manufacturing, tourism, aerospace, defence, finance and logistics. In addition to its economic investments, Abu Dhabi has also made major contributions to social welfare as well as infrastructure, which has been identified as the bedrock for future growth.
Chapter | Construction & Real Estate from The Report: Abu Dhabi 2014
The UAE overtook Saudi Arabia as the Gulf’s largest construction market in terms of contracts awarded in 2012. In 2013, the UAE construction market continued to post growth, led by Abu Dhabi’s capital investments in infrastructure, housing and health care facilities. The value of the UAE’s construction sector was forecast to grow by 4.5% in 2013, reaching $41bn, and is expected to continue to...
Chapter | Construction & Real Estate from The Report: Panama 2014
A major driver of GDP growth over the past decade, the construction sector generated more than $2.5bn in 2013, accounting for around 9% of GDP, a year-on-year (y-o-y) increase of 30%, according to the Panamanian Chamber of Construction. Public infrastructure works are leading this surge, but the private sector is also playing a significant role through residential and commercial developments. The...
Following its successful chairmanship of ASEAN in 2013, Brunei Darussalam will look to continue its role as a regional leader in areas ranging from defence to commerce. The increased focus on diversification and the growth of several industries bode well for the economy, and the coming years are expected to see Brunei Darussalam further bolster its position within ASEAN and the international economy.