International, Chinese firms eye the $2.8T GCC construction market

With $2.8 trillion worth of projects planned or ongoing in the Gulf Cooperation Council (GCC) countries, international firms are increasingly eyeing the construction market in the region.

At a recent Deloitte Breakfast Briefing session, a select group of key Chinese construction industry executives and service professionals were given insight into the latest trends and developments in the GCC construction industry and discussed best practice in construction project/portfolio management.

Cynthia Corby, Deloitte Middle East Construction Industry Lead Partner, said, "Deloitte, with its extensive cross-border network across functions and industries is adequately placed to anticipate and address such clients' business needs in this exciting yet challenging part of the world. With a global reach and regional expertise, Deloitte connects the expectations between policy-makers, industry associations and market participants, bringing in relevant insights while providing services and solutions that are effective, implementable and sustainable."

Andrew Jeffery, Managing Director on Capital Projects, stated, "We are observing a trend of projects in the region involving increased risk and complexity, and this is occurring while globally contractors are seeking a "more for less" approach. This necessitates a rigorous and methodical approach to governance as well as a deep understanding of the individual markets themselves."