The value of completed construction projects in the Gulf Cooperation Council (GCC) is expected to jump 71 per cent to $79.8 billion (Dh293.11 billion) this year with the commercial property and hotel sectors leading the way, according to a new study.
In 2011, completed construction projects in the GCC were valued at $46.5 billion, according to new research by Ventures ME, commissioned by dmg events, the organising team behind the Index International Design Exhibition.
Commercial real estate projects are set to double in value to $15.3 billion this year from $7.7 billion in 2011, with four of the six GCC countries ranking among the top 20 retail destinations, according to the Global Retail Development Index.
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