Construction in Bahrain – Key Trends and Opportunities to 2015

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					Construction in Bahrain – Key
Trends and Opportunities to 2015
Reference code: CN1002IR

Published: May 2012




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 EXECUTIVE SUMMARY




1      Executive Summary
        Just as in neighboring Gulf countries, the Bahrain construction industry had been growing at a robust
        pace prior to the onset of the global financial crisis. This growth had been fuelled by the country‘s long-
        term efforts to diversify its economy, efforts which have led to the emergence of Bahrain as the
        financial capital of the Middle East and have also led to many multinational companies establishing
        their Middle Eastern bases in the country, attracted by favorable tax policies and the country‘s strategic
        location in the center of the Gulf region. In order to further increase its attractiveness, the country also
        invested heavily in its infrastructure segment, investment that has helped Bahrain to attract increased
        numbers of tourists, mostly from neighboring Gulf countries. These developments contributed to a
        robust construction industry prior to the onset of the global recession in 2008, which resulted in a
        liquidity crisis, decreased foreign investment and the cancellation or postponement of many
        construction projects. As a result of this early period of rapid growth followed by a contraction of 24.4%
        in 2009 and minimal growth in 2010, the Bahrain construction industry recorded an overall CAGR of
        4.21% during the review period.

        In 2010, the Bahrain construction industry showed signs of recovery and recorded an annual growth of
        3.3%. This growth was, however, halted by the emergence of political and civil unrest in February
        2011. Future growth in the Bahrain construction industry depends heavily on political stability as any
        long-term political unrest would decrease the country‘s attractiveness to potential investors.

        In 2010, infrastructure construction was the largest market within Bahrain‘s construction industry,
        accounting for a 29.7% share. The country‘s infrastructure market has benefited from substantial
        government investment designed to attract foreign capital in 
				
DOCUMENT INFO
Description: The Bahrain construction industry had been growing at a robust pace prior to the onset of the global financial crisis. This growth had been fuelled by the country’s long-term efforts to diversify its economy, efforts which have led to the emergence of Bahrain as the financial capital of the Middle East and have also led to many multinational companies establishing their Middle Eastern bases in the country, attracted by favorable tax policies and the country’s strategic location in the center of the Gulf region. In order to further increase its attractiveness, the country also invested heavily in its infrastructure segment, investment that has helped Bahrain to attract increased numbers of tourists, mostly from neighboring Gulf countries. These developments contributed to a robust construction industry prior to the onset of the global recession in 2008, which resulted in a liquidity crisis, decreased foreign investment and the cancellation or postponement of many construction projects.
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