Egyptian investments are running at their lowest level in two decades in the aftermath of the revolution last year. But MEED contract award data shows Saudi Arabia, Qatar and the UAE have witnessed a big upturn in construction and infrastructure contract awards so far in 2012 which are up 25 per cent to a total of $41 billion.
The latest BofA Merrill Lynch Global Research report says: ‘In the UAE, the past four months saw large contracts being awarded in the oil and gas and petrochemical sectors worth $9 billion while construction and infrastructure awards increased by $3 billion over the same period… growing 32 per cent year-on-year to stand at $7.9 billion while total awards grew by a whopping 85 per cent to $17.4 billion in the year-to-September.
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