Bahrain has historically had the smallest projects market in the GCC, which is not surprising given it has the smallest economy and population of all the GCC states. However, with only limited oil and gas reserves of its own, its projects market has grown to be less dependent on the crude price, and therefore more capable of withstanding the bearish market.
Like most nations, the COVID-19 pandemic severely affects the local projects market. It declined by 30% between 2019 and 2020, reaching just under $2bn last year as the government cut back on expenditure.
With the pandemic continuing into the first half of 2021, the situation has not dramatically improved. Spending in the first
the quarter was a paltry $120m, highlighting just how much the market is struggling.
The Kingdom has benefited from project funding from its neighbors, particularly Saudi Arabia and Kuwait. This has helped push some social infrastructure and affordable housing projects in the past couple of years.
However, the potential for the market is likely to be dependent on how successfully it can implement projects on a public-private partnership (PPP) basis. The forthcoming King Hamad Causeway and LRT projects system will therefore be critical to the outlook for the market.
Bahrain Projects H1 2021 is the update to last year’s report. Focused on data, it is aimed at helping companies create strategies for targeting and growing the market.
It uses almost exclusively data from MEED Projects (www.meedprojects.com), the region’s leading online projects tracking service. With 15,000 active projects tracked and more than 35,000 in total in the database, MEED Projects makes it possible to quantify current, historical and future trends in the projects market in the region.
I am certain that this report can help you achieve success in Bahrain.