Published on : Mar 22, 2017
ALBANY, NY, March 22, 2017: The construction sector in Bahrain has picked up pace despite the turbulent financial conditions post-2009 and this momentum can be attributed to ongoing investments and plenty of opportunities in sectors such as manufacturing, wholesale, restaurants, transport, and healthcare. In a report added to the massive repository of ResearchMoz.us, it has been stated that the output of the construction industry in Bahrain expanded by 6.4% in 2016, after registering an average annual growth rate of around 5.0% over the previous four years.
The report is titled “Construction in Bahrain Key Trends and Opportunities to 2021” and offers sharp insights, detailed assessments, and accurate information pertaining to the construction industry in Bahrain. The impact of industry trends and challenges, the opportunities made available to investors, the risks that lie ahead, and highlights of some of the largest and most prominent construction projects in the country have been discusses in this report.
The report states that the Bahrain government has dedicated a lot of capital and effort into improving the infrastructure in the country so as to propel the performance of the non-oil economy, which is slated to register a modest 2.4% growth in 2017. Based on assessments made by the Economic Development Board, an estimated BHD 12 bn is currently invested in implementing construction and infrastructure projects across the country, amount to around US$32 bn.
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One of the main reasons why a number of investors are looking to pour money into construction projects in Bahrain is the gap between demand and supply. It has been observed that the housing supply in the country is lower than its demand and this gives residential developers immense opportunities, especially in providing affordable housing solutions to the middle- and lower-income groups. Targeting this particular strata of the society, the government – under the Government Action Plan – is looking to construct 65,000 housing units in the country by 2020.
Another effort by the government in Bahrain is modernizing and expanding airport services. With the aim of meeting the anticipated surge in cargo, passenger, and air traffic, efforts are on to build a world-class aviation infrastructure. In light of this, the government is constructing the Bahrain International Airport (BIA) as part of its Airport Modernization Programme. The contract of building the new terminal was awarded to a joint venture between Turkey-based TAV Construction and Dubai’s Arabtec Construction.
A key trend that is likely to emerge in the Bahrain construction industry is arising focus on green buildings. There has been a major shift in the mindset of the people in this country, which has resulted in growing interest in curbing energy conservation and costs. This interest is also being reflected in the activities of construction companies, who are looking to find sustainable ways of construction.
The leading players evaluated in this report are Arabian Dredging Company WLL, Poullaides Construction Company WLL, Nass Corporation BSC, OAK Utility Solutions and Development WLL, and Ahmed Mansoor Al Aali Group of Companies.
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