The GCC construction boom will continue to grow, V. Jayaraman, General Manager, ETA Star Properties claimed at the Fourth GCC Economic Summit. He said: “The Gulf is experiencing an unprecedented period of economic expansion. We expect the growth to average 6.9 per cent in real terms among the six GCC members in 2005. The GCC real estate sector is booming with considerable inflows coming from the repatriation of funds in to home markets. Governments within the region have also been proactive in diversifying their economies and the region has witnessed a dramatic increase in tourism. The construction spend from entities such as Dubai alone has exceeded $40 billion.”
Al Bawaba
