The Oil Drilling Rig Industry is characterized with a few typical work specific to this industry only. The work begins with the search for new oil basins or construction of wells. During this time the services of drilling contractors and se…
BMI View: Our 2013 real growth forecast of 4.8% is reinforced by the 2011 numbers coming in exactly
how we anticipated and the 2012 data being on track to fulfil or expectations. Significant public spending, a
growing tourism sector, increased direct foreign investment and an improved business environment are all
driving activity in the construction sector. However, we are now seeing a more moderated scale of future
projects, in line with a more realistic demand picture. We believe this outlook will be supported by ongoing
or re-started projects, rather than a stream of new construction contracts.
Factors driving construction industry growth:
The UAE is spending US$58bn on roads and bridges projects, the cost taken up by projects currently
under way or in the planning phase. The significant figure - which is more than any other Gulf
Cooperation Country (GCC) country - accounts for nearly half of the regional spend.
The second phase of the US$11bn Etihad Railway Network - also part of the US$100bn GCC Railway
Network - has entered the tendering phase. Construction is scheduled to start early 2013 and will provide
a significant boost to the construction industry.