Dublin, July 25, 2024 (GLOBE NEWSWIRE) -- The "Bahrain Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028" report has been added to ResearchAndMarkets.com's offering.
The publisher expects Bahrain's construction industry to grow by 3.4% in real terms this year, supported by developments in commercial and energy and utilities projects coupled with an increase in Foreign Direct Investment (FDI).
According to Central Informatics Organization of Bahrain (CIO), the total FDI in the country grew by 15.9% year on year (YoY) in the first three quarter of 2023, preceded by YoY growth of 5.6% in 2022. However, tight monetary policy and fall in the value of tender awarded are expected to pose downside risk to the industry's outlook in the short term. According to the Tender Board of Bahrain, the total value of tenders awarded declined by 2.6% YoY in the first ten months of 2023.
Over the remainder of the forecast period, the construction industry is expected to record an annual average growth of 4.7% during 2025-28, supported by investment in commercial, energy construction projects and the Industrial Sector Strategy (2022-26). As part of this plan, the government intends to raise the industrial sector's involvement in the Bahraini economy.
The goal is to increase its contribution from 12.8% in 2019 to 14.5% by 2026. This will be accomplished through the prioritization of five key areas; supporting local industries, investing in infrastructure, enhancing the investor experience, offering career guidance, and updating legislation. The strategy also aims to amplify exports of domestically produced goods and generate more employment opportunities. This will be facilitated by advancements of the "Fourth Industrial Revolution," promoting investments in digitalization, and improving regional supply chains.
Forecast period growth in the industry will also be supported by investments as part of the 'Strategic Projects Plan', unveiled in late October 2021; the plan outlays an investment of BHD11.3 billion ($30 billion) in Bahrain's national infrastructure and its strategic priority sectors. In another development, in December 2023, Bahrain announced its National Energy Strategy, which aims at achieving a 30% reduction in carbon emission by 2035 compared to 2015 level and further attain net zero emission by 2060. This strategy will further attract investment in the energy and utility sector over the forecasted period.
Scope
- Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Bahrain, featuring details of key growth drivers.
- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
- Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
- Listings of major projects, in addition to details of leading contractors and consultants
Reasons to Buy
- Identify and evaluate market opportunities using the standardized valuation and forecasting methodologies.
- Assess market growth potential at a micro-level with over 600 time-series data forecasts.
- Understand the latest industry and market trends.
- Formulate and validate strategy using the critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
Key Topics Covered:
1 Executive Summary
2 Construction Industry: At-a-Glance
3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 Risk Profile
4 Construction Outlook
4.1 All Construction
- Outlook
- Latest news and developments
4.2 Commercial Construction
- Outlook
- Project analytics
- Latest news and developments
4.3 Industrial Construction
- Outlook
- Latest news and developments
4.4 Infrastructure Construction
- Outlook
- Project analytics
- Latest news and developments
4.5 Energy and Utilities Construction
- Outlook
- Project analytics
- Latest news and developments
4.6 Institutional Construction
- Outlook
- Project analytics
- Latest news and developments
4.7 Residential Construction
- Outlook
- Project analytics
- Latest news and developments
5 Key Industry Participants
5.1 Contractors
5.2 Consultants
6 Construction Market Data
7 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/79tjmm
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