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Dubai / Emirates Business
The combined value of the 1,424 active transport projects in the GCC has exceeded $392.2 billion (AED1.4 trillion) at the end of 2017, according to latest GCC Construction Analytics report issued by BNC Network, the larg-est and most comprehensive project research and intelligence provider in the Middle East and North Africa (MENA) region.
Of these, 139 projects worth $207.5 billion involve the development of the railway sector — in bits and pieces — that will later be interconnected to the GCC railway system and create a region-wide rail network to help accelerate cross-border movement of goods, services and people.
However, the highest number of projects – 1,069 – are dedicated to roads and highways sector, with a combined value of $122.6 billion (AED450 billion) that will improve and expand the road networks across the region.
As many as 100 projects with a combined value of $37.4 billion (AED137.25 billion) are in the aviation sector, mostly in aviation infrastructure projects. Saudi Arabia is developing a number of small airports to have them connected to the rest of the country as mobility among the GCC residents are growing, necessitating greater connectivity. In the UAE, Al Maktoum International Airport also represents a significant portion of these projects.
Around 116 marine projects with a combined estimated value of $24.7 billion (AED90.6 billion) will also expand the region’s marine transport sector. The GCC’s transport sector constitutes 6 percent of all active projects in the region and in dollar terms, these projects account for 16 percent of the total estimated value.
The relatively higher spending in the roads and transport infrastructure sector reflects a clear focus on economic diversification of the GCC countries where transport, logistics, trade and tourism will dominate the economic landscape in future.