Huge investment attracting biggest global machinery manufacturers
Cutting-edge concrete technology suppliers also being attracted
Global construction equipment market to hit US$240bn by 2020
Massive investment in transforming infrastructure projects across the GCC is attracting some of the world’s biggest names in construction, according to the man behind two of the region’s leading construction events.
“More than US$193 billion in construction contracts were expected to be awarded in 2015 alone,” said Nathan Waugh, Portfolio Director at dmg events. “We are well on track to meet or even exceed this figure.”
In a report by BMI Research, Qatar offers the highest investment ratio of 17.5; the ratio is calculated by dividing total value of the construction project pipeline with total construction industry value. While the UAE is a firm favourite with global construction firms in the run up to the Expo 2020 event.
Meanwhile, the Etihad Railway and regional Gulf Railway networks top the bill in terms of projects. Contracts for the 628 kilometre Etihad Rail Stage 2 are due to be awarded in 2015 and 2016, and are part of the US$11 billion Etihad rail project.
These investments are reflected across all sectors of construction. In response to the booming regional construction market, the biggest names in the construction machinery sector will be at PMV Live this year where MAN Truck and Bus has chosen the event to celebrate its 100 year anniversary.
“This is a fantastic testament to the importance big global companies attach to events like PMV Live and the connections it helps them to create within the region,” said Waugh.
Alongside PMV Live, Middle East Concrete provides a fantastic regional platform for the concrete industry, which continues to invest heavily in sustainability and a prominent drive for efficiency and green solutions.
Waugh said: “Middle East Concrete will showcase more live demonstrations than ever before, providing the industry exclusive access to cutting-edge solutions. Allowing visitors to experience products in action will give them more options to take advantage of these booming regional markets. For example, Laticrete, a concrete company based in Ras Al Khaimah, plans to hold a live demonstration at the event of a new method of laying concrete.”
“One of the things that makes Middle East Concrete and PMV Live so popular is the fact that the events are considered to be the must attend platform for major players representing the entire industry,” said Waugh.