GCC: $633.2 billion worth of real estate projects
Mr. Edmund O'Sullivan, chief economist and Editorial Director of the MEED magazine (Middle East Economic Digest), estimates the value of the currently ongoing real estate projects in the Gulf States at $633.2 billion. Mr. O'Sullivan expects this huge figure to further grow in 2006 due to the direction of oil revenues into major tourism, residential and commercial projects.
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- An inside look into why GCC construction projects are almost doubling this yaer