New research showed that 3,398 civil building projects worth $1.35 trillion are currently active in the Gulf region. The figures released by Streamline Marketing Group, paint a more positive picture of the regional construction industry which has been battling to shrug off the effects of the global economic crisis. The UAE leads the way, with 1,853 civil building projects worth a total of $661,443 billion currently under way across four sectors - commercial and retail, education and healthcare, leisure and entertainment, and residential. The research carried out on behalf of Streamline Marketing by Dubai-based Proleads, which monitors regional construction projects across all industry sectors, showed Saudi Arabia has 847 active projects valued at $417,859 billion. Kuwait currently has 160 active projects worth $142,759 billion, Qatar 186 projects valued at $48,215 billion, Bahrain 232 projects worth $40,258 billion, and Oman 116 projects valued at $38,512 billion. Overall, the latest market analysis shows that a fraction under 75 percent of all announced projects in the region are still progressing, representing a much more optimistic outlook at the start of an important week for the regional construction industry. Against this backdrop, Big 5 PMV, the Middle East's leading exhibition dedicated to plant, construction vehicles, machinery and equipment, organized by Streamline Marketing Group, opened in Dubai on Monday. “While there is no getting away from the fact that a large number of major projects in the region are now on hold, or have been cancelled, as a result of the global downturn, the latest market research underlines the fact that there is still a massive amount of construction going on in the region,” said Emil Rademeyer, director, Proleads. An impressive international assembly of contractors, developers and suppliers have gathered at Dubai International Convention and Exhibition Centre for the four-day Big 5 PMV which is helping to create another milestone for the city's world-class exhibition facility. The event is taking place as part of the Big 5, the region's most influential construction and contracting exhibition, organized by dmg world media, with the venue's impressive new state-of-the-art Sheikh Saeed Halls allowing both to be staged under the same roof for the first time. Meanwhile, in Doha, GCC Industrialists Conference held on Sunday its first working session on Industrial Strategies in Gulf Cooperation Council (GCC) countries, SPA reported. Saudi Minister of State and Cabinet's member for Shoura Council Affairs, Dr. Saud Al-Mathami described Saudi industrial strategy, which will continue until 2020, as comprehensive, saying, “We have been keen that there should be alternatives for each plan to achieve the desired purpose. The contribution of industry to the Gross Domestic Product will double in 10 years up to twenty percent”. Saudi Undersecretary of Ministry of Commerce and Industry for Industrial Affairs Dr Khalid Bin Mohammed Al-Suleiman pointed to the dominance of oil sector over the Saudi economy, stressing that Saudi Arabia seeks to diversify its economy and to expand its petrochemical industry. Vice-Chairman of Board of Directors and Chief Executive Officer of Saudi Basic Industries Corporation (Sabic) Eng. Mohammed Al-Madhi reviewed the development of the corporation which has doubled its production with its partners, noting that its products have reached more than 100 countries as well as it has strengthened its international presence and worked for the achievement of its goals. __
