Feb 17, 2012

Saudi Arabia launched projects worth SAR270-billion last year. No wonder there is a shortage of cement. Expect more shortages as the construction boom kicks off in earnest.

The Saudi Ministry’ decision to ban cement exports to ensure there is plenty of supply available for the local market is a sign of hectic construction activity in the Kingdom. READ MORE HERE

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Transportation is a key consumer of global energy supplies and will increase its share in the future, thanks to rising populations and greater demands for mobility via air, land and sea.

Globally, transportation soaks up a third of all energy supplies and is set to grow from 80% to 130% as the number of cars quadruple to nearly three billion by 2050. READ MORE HERE

Kuwait-based KAMCO sheds light on the future economic outlook of the GCC based on 2011 and 2012 GDP growth expectations. In addition, the report incorporates growth analysis of consumer loans in Saudi Arabia, Qatar and Kuwait for 9M-11. GDP in Saudi Arabia, Qatar and Kuwait is expected to post growth rates for 2011 and 2012, by 29% and 7% in Saudi Arabia, 35% and 7% in Qatar, while Kuwait is expected post growth of 25% and 12%, respectively, supported by the growth in oil GDP.
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Excerpt from Citibank report:

In October this year, $16.9bn of projects were awarded across MENA. On a cumulative basis, just over $82bn of projects have been awarded across the region in the year to end October. This compares favourably with FY10 when almost $80bn of projects were awarded. Saudi Arabia is the main driving force accounting for a third of the 2011 total. Iraq accounts for 20%.The UAE has awarded almost $14bn in the year to end October, almost $20bn below FY10.
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Projects worth $700-billion hope to transform Saudi Arabian economy, but the country needs more than capital investment. Read More