Bahrain’s construction sector is set to play a vital role in the GCC market, with projections indicating that it will contribute $14.9 billion and 36,100 jobs to the economy by 2030. Currently, the sector accounts for 8.7 per cent of Bahrain’s GDP, amounting to $9.4 billion, but this is expected to increase to 11.3 per cent in the coming years. This growth showcases Bahrain’s attractiveness to investors looking to be a part of the booming construction industry in the region.
A recent report from the Arab Investment & Export Credit Guarantee Corporation highlights Bahrain’s strong position in the Arab construction industry, with three Bahraini companies ranking among the top ten investors from 2003 to 2024. Tameer Holding, for instance, is ranked second in project costs, with investments totaling over $20.7 billion. GFH Financial Group and Gulf Holding Company have also made significant contributions by collectively creating over 17,000 jobs, thus positively impacting employment within the sector.
In a regional context, the UAE’s Majid Al Futtaim Group leads the pack with investments exceeding $23 billion across 19 projects. However, Bahrain’s Tameer Holding closely follows suit, holding a 4.8 per cent share in the Arab construction market. Additionally, GFH Financial Group has made its mark by generating over 8,000 jobs in the region, while Gulf Holding Company has added 9,000 jobs to the sector. As a result, Bahrain ranks highly among Arab nations when it comes to attracting lucrative construction projects.
The presence of Bahraini companies in the top ten investors within the Arab construction industry reflects the country’s growing appeal and strong position in the market. Tameer Holding, GFH Financial Group, and Gulf Holding Company have not only made substantial investments but have also significantly contributed to job creation within the sector. This has had a positive impact on Bahrain’s economy, with the construction sector playing a pivotal role in driving growth and creating employment opportunities for the local population.
As Bahrain continues to attract investment in the construction sector, the economy is expected to reap the benefits through increased GDP contribution and job creation. With projections indicating continued growth in the industry, Bahrain’s reputation as a hub for construction and infrastructure development is only set to strengthen. By fostering a conducive environment for investors and companies to thrive, Bahrain is solidifying its position as a key player in the GCC construction market.
In conclusion, Bahrain’s construction sector is poised for significant growth and contribution to the economy, with projections indicating a rise in GDP share and job creation. With Bahraini companies ranking among the top investors in the Arab construction industry, the country is solidifying its position as a lucrative destination for construction projects. By attracting investments and creating jobs, Bahrain is showcasing its potential for sustainable development and economic prosperity through the construction sector.
