KUWAIT CITY, Jan 16:  In its evaluation of global investments in infrastructure projects, MEED magazine underscored these initiatives as the primary drivers of construction industry activity worldwide. The publication highlighted that the substantial surpluses stemming from oil revenues in the Gulf countries create a conducive environment for heightened investments in the construction sector until 2027.

This favorable situation is credited to their unwavering commitment to robust economic diversification initiatives. The report specifically pointed to compelling evidence of this trend in the Gulf Cooperation Council (GCC) countries. For example, in the Kingdom of Saudi Arabia, significant projects are in progress to stimulate economic growth, particularly through sustained investments in transportation infrastructure.

These endeavors aim to enhance performance and connectivity by implementing metro systems and rapid transit projects, with notable instances such as the NEOM project. A significant milestone occurred in May 2023, marked by a $2 billion agreement to establish a 57 km railway line connecting the Oxagon Industrial City to The Line project. Aligning with the ambitious Saudi Vision 2030, the Kingdom has set formidable targets for renewable energy capabilities, committing to carbon neutrality by 2060 and generating 50% of its energy from renewable sources by 2030.

Zooming out to examine the broader Middle East and North Africa (MENA) region, Qatar and the UAE stand out as exceptional performers, boasting comparatively high levels of investment in infrastructure projects relative to their GDP. Additionally, these countries are acknowledged for maintaining a high standard of infrastructure quality.