Over the past five years, Gulf Cooperation Council (GCC) states have dedicated a significant amount of time and money to developing maritime coasts. Industry professionals estimate that the value of commercial maritime projects will exceed US$35 billion during the next three years. Statistics released by Baradihi Commercial Diving Services, a leading provider of commercial diving services in the GCC area, show that as of the end of 2009 there were 12 major maritime projects underway in the Gulf region: four in the UAE, three in Saudi Arabia, two each in the Sultanate of Oman and Qatar, and the final one in Kuwait – the massive $1 billion Bubian Island development project. Says Nadia K Baradihi, President and CEO of Baradihi Commercial Diving Services: “The Arab Gulf states' growing interest in maritime development projects reflects sound strategic thinking emanating from their adaptation of the maritime environment, making it an additional commercial attraction factor that will help create a prosperous future for the region, achieving sustainable development by minimizing dependence on oil as a main source of spending and funding.” “The UAE and KSA have the greatest number of projects in the Gulf region, with four and three respectively, and Baradihi is working on a number of these commercial diving projects. We expect significant demand from the UAE, where developers are working on a number of offshore and waterfront property projects, despite the impact of the global financial crisis,” she adds. “The massive economic growth witnessed in the Middle East region over the past few years, coupled with the coastal location of the GCC countries, is driving major seaport expansion and over 50 projects worth in excess of $40 billion are currently underway in the region, with budgets ranging from $10 million to $5.5 billion. The majority of these projects are expected to be completed within the next ten years,” says Baradihi. The competition in maritime development projects has led to the emergence of strong regional marine companies and operators, making the Arabian Gulf region one of the most dynamic and vibrant international maritime centers in the world.
