Chinese companies excited by new research

Machine opens the door to new research.

A number of far eastern companies have become excited by some new research issued by the organisers of the Big 5 exhibition, which illustrates the true state of the GCC construction market.

The figures, released by the event organisers, Streamline Marketing Group, paint a more positive picture than often reported of the regional construction industry which has been battling to shrug off the effects of the economic crisis.

According to the research carried out on behalf of Streamline Marketing Group by Dubai-based Proleads, which monitors regional construction projects across all industry sectors, showed Saudi Arabia has 847 active projects valued at US$417,859 billion.

Kuwait currently has 160 active projects worth US$142,759 billion, Qatar, 186 projects valued at US$48,215 billion, Bahrain, 232 projects worth US$40,258 billion, and Oman, 116 projects valued at US$38,512 billion.

Ken Li, the export manager for PanPan Security, a firm which specializes in re-enforced doors said, “We re most excited about the developing market here, and that the market continues to grow for our high-security solutions.”

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Benny Khoo, a manager at Hongmen, an electrical gate firm from Shenzen said: “We are looking for a dealer here, so it is great news that the market valuation is still very high. “

“The number of ongoing projects, particularly in Saudi Arabia means we should have a good market for our security products.

Overall, the latest market analysis shows that a fraction under 75% 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.

“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.

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