The Bahraini construction
industry increased in value at a compound annual growth rate (CAGR) of 1.68%
during the review period (2009−2013). This growth was supported by public
investments in the infrastructure and residential markets, which are expected
to be the main growth drivers over the forecast period (2014−2018). The
industry is projected to record a forecast-period CAGR of 8.59%. Industry
expansion will also be driven by a population increase, government initiatives
to support the growth of high value-add projects, and an expected revival in
investor confidence.
This report provides detailed market analysis,
information and insights into the Bahraini construction industry including:
- The Bahraini construction industry's growth prospects by market, project type and type of construction activity
- Analysis of equipment, material and service costs across each project type within Bahrain
- Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Bahraini construction industry
- Analyzing the profiles of the leading operators in the Bahraini construction industry
- Data highlights of the largest construction projects in Bahrain
Scope
This report provides a
comprehensive analysis of the construction industry in Bahrain. It provides:
- Historical (2009-2013) and forecast (2014-2018) valuations of the construction industry in Bahrain using construction output and value-add methods
- Segmentation by sector (commercial, industrial, infrastructure, institutional and residential) and by project type
- Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)
- Analysis of key construction industry issues, including regulation, cost management, funding and pricing
- Detailed profiles of the leading construction companies in Bahrain
Reasons To Buy
- Identify and evaluate market opportunities using our standardized valuation and forecasting methodologies
- Assess market growth potential at a micro-level with over 600 time-series data forecasts
- Understand the latest industry and market trends
- Formulate and validate business strategies using Timetric's critical and actionable insight
- Assess business risks, including cost, regulatory and competitive pressures
- Evaluate competitive risk and success factors
Key Highlights
The construction industry in
Bahrain is in a stage of recovery after struggling from the lows of 2008–2009
financial crisis and political unrest since 2011. According to the Central
Informatics Organization (CIO), in the third quarter of 2013 the Bahraini
construction industry’s contribution to GDP accounted for 6.3%. The industry is
expected to value BHD3.4 billion (US$8.8 billion) in 2018, with growth largely
supported by heavy investments in infrastructure and housing projects. A number
of other major projects are either in the planning stage or under construction,
such as the Gulf rail line development, airport expansion plans, infrastructure
for three new cities, investment in power and water projects, a public
transport network due in 2030, and a new state-of-the-art exhibition center.
Construction growth will
also be driven by the Bahrain Economic Vision 2030, through which the country
is looking to become a developed nation by diversifying its economy, achieving
sustainable development and providing a high standard of living for its
population. The Economic Development Board (EDB) has initiated a program to
formulate the first national economic strategy. To accomplish this, both public
and private funds will be required to maintain and develop infrastructure. In
January 2014, the government also announced plans to spend BHD835.5 million (US$2.2
billion) to enhance power facilities. This project will be a part of a BHD3.8
billion (US$10.0 billion) Gulf Corporation Council (GCC) fund allocated for the
improvement of infrastructure.
To diversify its economy
from oil, the government is actively pursuing its Economic Vision 2030 which
marks industrialization, diversification and privatization as growth
opportunities. The government is making efforts to attract foreign investors
and increase the participation of private investors in other economic sectors
than oil. Efforts to diversify the economy will create opportunities for the
construction industry.
Bahrain is a part of a large
rail network development plan covering countries in the GCC. The 2,177km
network will stretch from Kuwait to Oman. The BHD9.5 billion (US$25.0 billion)
project will link Kuwait City, Dammam in Saudi Arabia, Manama in Bahrain, Doha
in Qatar, Abu Dhabi and Al Ain in the UAE, and Sohar in Oman. Construction is
likely to start in 2014 and is expected to be complete in 2018. The project
also comprises the construction of a causeway linking Saudi Arabia and Bahrain,
boosting intra-regional trade through freight and passenger travel.
In its 2013 draft budget,
the government proposed the allocation of 10.6% of its total capital
expenditure, valuing BHD114.8 million (US$302.3 million) towards social
projects. It includes the development of housing, healthcare, educational and
vocational training and social welfare projects.
In the third quarter of
2013, the housing ministry allocated BHD3.0 billion (US$8.0 billion) towards
the construction of new housing. It includes the construction of the first
phase of the Durrat Marina, the second phase of the Wahat Al Muharraq and a new
128 villa project at Durrat Al Areen. The residential market in Bahrain will,
therefore, record an increase in the number of housing projects over the
forecast period.
Spanning Over 68 pages, 81 tables, 31 figures, “Construction in Bahrain - Key Trends and
Opportunities to 2018”
report covering the Market Overview, Commercial Construction, Industrial
Construction, Infrastructure Construction, Institutional Construction,
Residential Construction, Company Profile: Nass Corporation BSC, Company
Profile: The Ahmed Mansoor Al A’ali Group of Companies, Company Profile:
Arabian Dredging Company WLL, Company Profile: Alwardi Group, Company Profile:
Inovest BSC, Market Data Analysis, Appendix. The report covered 4 companies -
Nass Corporation BSC, The Ahmed Mansoor Al A’ali Group, Arabian Dredging
Company WLL, Alwardi Group, Inovest BSC
Know more about this report at: http://mrr.cm/Z3E
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