"HEALTHY SIGNS FOR GCC'S CONSTRUCTION SECTOR"
According to recent findings from Pinsent Masons' GCC Construction Survey, the overall sentiment in the region's construction sector has improved over the last two years by approximately 7% (from 32% to 39%).
Sentiment towards the real estate sector improved with 32% of respondents expecting growth from this sector in 2018, compared to 25% in 2016.
“Optimism towards the GCC's construction sector saw an increase from our 2016 survey despite ongoing challenges with lower oil pricing and headwinds facing the private non-oil sector,” said Sachin Kerur, Head of Middle East Region at Pinsent Masons.
However, while the survey indicated a slight rise in overall sentiment, the findings revealed that 20% of those surveyed across the GCC expect their order books to decline by more than 10% in the coming months, compared to 16% two years ago.