A Comparative Analyses of Different Approaches Employed by the GCC Market to Boost a New Construction Boom custom essay

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? The global construction industry is evaluated at approximately 4.6 trillion USD annualy. Despite the credit crunch, the gulf region is emerging as one of the major consturction markets with approximately 5,045 ongoing projects estimated between USD$700 AND 1820 bn. (www.venturesonsite.com).
? It will be useful to asses the potential of the GCC market of new construction/building technologies which promsie to conserve energy and resources. this will be done by:
? Drawing a comparison between the utilization of new technologies in two GCC countires; UAE and Qatar, respecitvely.
? Both of these countries have incorporated joint sustainable (green) building practices in the process of constructing and managing buildings economically to avoid environmental burdens and considerably reduce wastage.
? UAE is leading among all GCC countries in its effort to introduced new technologies and solutions to the construction market, followed by Qatar and Saudi Arabia.
? UAE is a country which has shifted its economical focus from being primarly dependent on oil resources to other economic fields such as, tourism, transportation, media, telecommuncation and mainly construction.
? The construction sector involves many types of projects including building, power and water, oil and gas, and infrastructure. The building projects take the lead among these various types of projects. It includes the building of hotels, airports, offices, educational facilities and retail.
? UAE ranks as the eighth country in the world to esablish a council for sustainable building (Emirates Green Building Council). Its main focus is to reduce the risk of pollution caused by buildings, and infuse the concepts of efficiency and sustainability in the construction industry.
? Qatar is another major market with many ongoing construction projects and opportunities. Being selected as a host to the 2022 world cup, Qatar has sparked new business ventures and investments in its building construction sector.
? There is continuous growth in the building construction market in Qatar, with many projects expected to be revealed in-line with National Strategy (2011-2016) in preperation for the 2022 world cup, and Qatar’s National Vision (2030).
? The construction boom in Qatar serves as a major investment for engineering specialists to introduce more innovative and advanced construction and marketing solutions. It is also gaining worldwide interest from manufacturers and suppliers of construction materials, tools and hardware looking to feed the demand of that region.

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