GCC Building CONSTRUCTION and Interiors OVERVIEW June 2013

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GCC Building CONSTRUCTION and Interiors OVERVIEW June 2013 GCC Building CONSTRUCTION and Interiors OVERVIEW June 2013 GCC Building Construction and Interiors Overview June 2013 www.indexexhibition.com P a g e : 1 www.ventures-me.com www.ventures-me.com / www.workspace-index.com GCC Building CONSTRUCTION and Interiors OVERVIEW June 2013 Table of Contents GCC Building Construction and Interiors Overview June 2013 .............................................................. 1 Introduction ............................................................................................................................................ 5 Chapter 1 ............................................................................................................................................... 17 GCC Commercial Real Estate Market .................................................................................................... 17 Interiors Contracting and Fit Outs in Commercial Sector Developments ........................................ 21 Chapter 2 ............................................................................................................................................... 27 GCC Hospitality Sector .......................................................................................................................... 27 Hotel Interiors Contracting and Fit-outs Sector ................................................................................ 32 Chapter 3 ............................................................................................................................................... 37 GCC Residential Development Sector Overview ................................................................................... 37 Residential Sector Interiors Contracting and Fit-Out Sector ............................................................ 42 Chapter 4 GCC Retail Development Sector Overview .......................................................................... 46 Retail Development Interiors Contracting and Fit-Out Sector ......................................................... 50 Chapter 5 ............................................................................................................................................... 53 GCC Medical Development Sector Overview ........................................................................................ 53 Healthcare Development Interiors Contracting and Fit-Out Sector ................................................. 56 Chapter 6 ............................................................................................................................................... 60 GCC Educational Development Sector Overview ................................................................................. 60 Educational Development Interiors Contracting and Fit-Out Sector ................................................ 62 Conclusion ............................................................................................................................................. 66 List of Figures Figure 1: GCC Building Construction Projects completion (US$ Million), June 2013 ............................. 7 Figure 2: GCC Interior Contracting and Fit-outs Spend (US$ Million), 2012 and 2013......................... 10 www.workspace-index.com P a g e : 2 www.ventures-me.com GCC Building CONSTRUCTION and Interiors OVERVIEW June 2013 Figure 3: GCC Interior and Fit outs Spend, Growth versus Share by Country, June 2013 .................... 12 Figure 4 GCC Interior and Fit outs spend, Growth versus Share by Sector, June 2013 ........................ 14 Figure 5: GCC Commercial Sector Projects Completed or Expected to be Completed Split by Countries (US$ Million), 2012-2013 ...................................................................................................... 19 Figure 6: GCC Commercial Interiors and Fit out Spend by Country (US$ Million), 2012-2013 ............ 22 Figure 7: GCC Hotel Project Completions in 2012 and Expected to be Completed in 2013 (US$ Million), 2012-2013 ............................................................................................................................... 29 Figure 8: GCC Hotel Interior Contracting and Fit out Spend (US$ Million), 2012-2013 ....................... 33 Figure 9: GCC Residential Project Completions in 2012 and Due for Completion in 2013 (US$ Million), 2012 – 2013 ........................................................................................................................................... 39 Figure 10: Residential Sector Interiors Contracting and Fit out Spend (US$ Million), 2012-2013 ....... 42 Figure 11: Retail Construction Projects with Completion in 2012 and 2013 (US$ Million), 2012-2013 ............................................................................................................................................................... 49 Figure 12: GCC Retail Interiors Contracting and Fit-out Spend (US$ Million), 2012-2013 ................... 50 Figure 13: GCC Healthcare Projects with Completion in 2012 and 2013 by Country, (US$ Million) .... 55 Figure 14: GCC Healthcare Sector Interiors and Fit out Spend (US$ Million) by Country, 2012 - 2013 ............................................................................................................................................................... 56 Figure 15: GCC Educational Projects with Completion in 2012 and 2013 by Country, (US$ Million) .. 61 Figure 16 GCC Educational Interiors and Fit out Spend (US$ Million) by Country, 2012-2013 ............ 63 List of Tables Table 1: Major GCC wide Commercial Building Project Completions in 2012 by Project Value (US$ Million) .................................................................................................................................................. 24 Table 2: Major GCC wide Commercial Building Projects Due for Completion in 2013 by Project Value (US$ Million) .......................................................................................................................................... 24 Table 3: Major GCC wide Hotel Project Completions in 2012 by Project Value (US$ Million) ............. 34 Table 4: Major GCC wide Hotel Projects Slated for Completion in 2013 by Project Value (US$ Million) ............................................................................................................................................................... 35 www.workspace-index.com P a g e : 3 www.ventures-me.com GCC Building CONSTRUCTION and Interiors OVERVIEW June 2013 Table 5: Major GCC wide Residential Sector Project Completions by Project Value (US$ Million), 2012 ............................................................................................................................................................... 43 Table 6: Major GCC Residential Sector Projects Due for Completion in 2013 by Project Value (US$ Million) .................................................................................................................................................. 44 Table 7: Major GCC wide Retail Projects with completion in 2012 by Project Value (US$ Million) ..... 51 Table 8: Major GCC wide Retail Projects Due for Completion in 2013 by Project Value (US$ Million) 51 Table 9: Major GCC wide Hospital Project Completions in 2012 by Project Value (US$ Million) ........ 57 Table 10: Major GCC wide Hospital Projects Due for Completion in 2013 by Project Value (US$ Million) .................................................................................................................................................. 58 Table 11: Major GCC wide Educational Project Completions in 2012 by Project Value (US$ Million) . 64 Table 12: Major GCC wide Educational Sector Projects Due for Completion in 2013 by Project Value (US$ Million) .......................................................................................................................................... 65 www.workspace-index.com P a g e : 4 www.ventures-me.com GCC Building CONSTRUCTION and Interiors OVERVIEW June 2013 Introduction With GCC real estate markets making steady recovery from the after effects of the global economic slowdown and the Arab Spring in 2012 and into 2013, the first quarter witnessed a flurry of activity driven by vast budgetary allocations and government spending on economic development across sectors such as healthcare, education, social housing and infrastructure, that in turn revived private activity in the real estate sectors of the economies across the GCC. Qatar, Saudi Arabia and the UAE have led the revival with the governments investing vast sums and announcing unparalleled budgetary outlays for overall development of the economy and its infrastructure as a part of their visions to diversify from excessive dependence on hydrocarbons to fuel their development. Tourism and hospitality sectors have sharply increased with the GCC being perceived as a safe haven for travel and investment amid the global economic slowdown and the regional upheaval in the other pockets of the Middle East. Though countries such as Kuwait and Bahrain, lag behind in the overall recovery process due to greater political upheaval in these countries and lack of consensus in investment decisions in Kuwait, though gradually order is being restored and Bahrain has witnessed a spurt in projects and investments in the real estate sector in 2013 and Kuwait a resumption of its developmental plans which had been put on hold amid the
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