(MENAFN) The GCC's planned projects for the year are worth a total of USD172 billion, led by the construction sector as the main focal point for the majority of ventures, a report by Deloitte showed, Arabian Business reported.
The sum represents a record high when it comes to annual estimates, the report showed, adding that a total of USD2.8 trillion projects are currently in the implementation and the pre-implementation stages.
Forty percent of this behemoth number is dedicated to residential, leisure, hospitality buildings and mixed-use developments, with a total allocation of USD1.1 trillion.
"These projects are the most sensitive in terms of balancing supply and demand in each of the GCC countries, with timing of delivery balanced alongside a sensible return on investment likely impacting the awards of these projects specifically," Deloitte said.
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