Bahrain is touted as the financial and commercial hub of the Middle East due to its openness to trade and its good linkages with its counterparts. However, due to civil unrests witnessed in the tiny Kingdom in the first quarter of 2011 and relenting worries over the global economic scenario, the Bahrain economy was severely impacted and its construction sector in particular was severely hampered. The private sector activity in the real estate market remained muted as investors remained on the sidelines adopting a wait and watch approach. It is expected that with the concrete efforts from the government to address low cost housing shortage and the push towards building social infrastructure amenities such as healthcare and educational facilities, the construction sector will pull back onto the recovery track.
The contracts awarded in the Bahrain building construction industry fell from US$ 972 million in 2010 to US$ 788 million in 2011. However, with stability being restored and government trying to woo back the investors through its considerable investment schemes, the industry is likely to recover and contracts expected to be awarded are estimated to grow at a moderate pace to reach US$ 949 million in 2012 and US$ 1495 million in 2013.
Ventures Middle East with its vast experience of tracking the construction industries across the Middle East and North Africa region, in its report Bahrain Building Construction Industry 2010 explores the factors that shape the growth of the Bahrain construction industry and assess through a comprehensive assessment of the Political, Social, Economic, Technological, Legal & Regulatory, and Environmental factors that shape its growth path. It then summarizes the probability and impact of these factors on the industry within a market drivers and restraints framework through a probability impact matrix.
The study also provides key statistics on the budget totals for the Bahrain construction industry and its break up by sectors, contract awards, construction spend for the building construction industry as a whole and by sub sectors namely, retail, residential, commercial, mixed use tourism and leisure and others (including airports, educational institutions, hospitals and other miscellaneous projects) along with analysis and forecasts of the trend in the respective segments.
The report also provides a listing of the top clients, consultants and contractors in the Bahrain Building construction industry.