GCC countries plan huge infrastructure investments

The countries of the Gulf Cooperation Council (GCC) plan to invest $968 billion in major projects over the next ten years. This investment includes 1,638 projects in different sectors, however the construction segment, infrastructure and the oil industry account for 80 per cent of all projects. Just for roads and railways, the oil-rich countries plan to direct $97 billion from 2011 to 2020, US$79 billion for rail, including trains, subways and trams. The most ambitious project, valued at US$30 billion, is the railroad that will connect all the countries of the GCC, whose construction is scheduled to begin in 2012. For roads construction, investments are put at $18 billion. It is expected that already in the next five years these Arab nations will invest $ 15 billion in the expansion of ports. Today the largest investments are concentrated in and, UAE, a country which accounts for 59 per cent of maritime cargo handling in the area. The GCC countries recognized the need to accelerate and facilitate the implementation of these projects through mechanisms such as public-private partnerships (PPPs), foreign direct investment, joint ventures, among others.

source: http://www.realtyplusmag.com/rpnewsletter/fullstory.asp?news_id=17946&cat_id=4