Podcast: Bahrain construction market round-up
Construction is a key part of Bahrain's economic diversification plan, but can it overtake petrodollar-backed growth in the kingdom?
Much like other countries in the Middle East, such as Saudi Arabia, Bahrain is looking to boost its non-oil sectors. Construction will be a key facilitator in this direction for the kingdom, but how much has the sector grown in 2018?
Bahrain Economic Development Board said in August that a 6.7% expansion in the construction sector during Q1 2018 suggested non-oil economic growth could be on the cards for the country.
Backed by the GCC Development Fund, Bahrain’s pipeline of tendered construction work has increased significantly from the $4.2bn (BHD1.5bn) it had at the end of 2017, and chief economist at the Bahrain Economic Development Board, Dr Jarmo Kotilaine, said renewed building activity would have a positive knock-on effect for the economy.
“Renewed expansion in the construction sector and implementation of a large infrastructure project pipeline suggests growth is likely to accelerate over the course of the year, as a new phase of construction growth helps to support activity across the economy,” he added.
In S02E06 of Construction Week Viewpoint, Oscar Rousseau and Jack Ball, deputy editor and senior reporter of CW, explore the various construction schemes under way in the kingdom.
Construction Week Viewpoint is a weekly podcast series examining the most important issues impacting the Middle East's construction sector. As the podcast's episodes span 15 minutes, they provide bite-sized facts and exclusive perspectives on the biggest business determinants for construction leaders – from dispute resolution and the decline of fatalities on site, to solar energy projects, and smart city concepts.
You can listen to a new podcast episode every Monday at noon to learn more about the biggest issues in the business. In previous episodes of the podcast, the CW team has looked at why Saudi Arabia is in a race to build more hospitals, and why saving the UAE's architectural heritage is more important than ever before. The team has also examined the reasons behind the continued development of oil and gas megaprojects amid widespread energy diversification plans.
In addition to our weekly podcast series, a behind-the-scenes video of the podcast recording can be found on Construction Week's YouTube channel.