Construction sector ‘driving growth’
01 March 2020
The construction industry in Bahrain is likely to play a significant role in the country’s economic growth in the future, according to a new report by global research and advisory firm Oxford Business Group (OBG).
The report comes amid Bahrain’s ongoing shift towards a knowledge-based economy against a backdrop of lower oil prices and fiscal reforms.
The Report: Bahrain 2020 looks in detail at the sectors of the economy that are expected to play a leading role in driving new growth as part of broader diversification efforts.
Key among those is the construction industry, which is benefiting from the rollout of several mega-projects for the energy, industry and transport sectors, alongside affordable housing and high-end commercial facilities, stated the report.
OBG also charts the performance of Bahrain’s manufacturing industry, which is now the second-largest contributor to non-oil GDP, successfully attracting higher levels of foreign direct investment (FDI).
OBG’s report also considers the implications of the major oil and gas find in the Khaleej Al Bahrain basin, which could boost production four-fold. In addition, it examines the modernisation programme under way at the Sitra refinery, mulling the part it will play in boosting throughput.
- $23bn hotels to be built in Mena by 2023: report
- GPIC signs feasibility study deals with Saipem
- $92.8bn airport projects under way in region
- Bahrain commissions key LNG terminal
- GCC riding high on $3.1-trillion projects
- UK group to build Kuwait waste-to-energy plant
- Muscat Airport City masterplan unveiled
- Oman awards $427m road development contracts
- Construction sector ‘driving growth’
- Tenders for Bahrain metro by mid-2021
- Key deals awarded for Doha airport expansion
