Dhaman: Arab countries attracted 1,129 foreign projects in the construction sector from January 2003 to July 2024, with an investment capex of about USD 430 billion, creating more than 611,000 jobs, said Arab Investment and Export Credit Guarantee Corporation (Dhaman). According to Kuwait News Agency, the UAE, Saudi Arabia, Morocco, Egypt, and Oman secured 765 foreign projects, accounting for 68 percent of the total, with an investment capex exceeding USD 269 billion, which represents 63 percent of the entire investment. The UAE emerged as the leading investor in the Arab region, implementing 242 projects over the past 22 years, with an investment capex surpassing USD 139 billion and creating more than 170,000 jobs. Saudi Arabia was identified as the most attractive Arab market for investment in the infrastructure sector, due to lower risks and higher incentives, followed by the UAE, Qatar, and Oman. The report predicts a 3.6 percent increase in the total output of the construction sector in the Arab region , encompassing 15 countries, to USD 498 billion by the end of 2024. This figure is expected to represent more than 5 percent of the global total, with projections suggesting a rise to approximately USD 707 billion by 2030. Arab countries' foreign trade in goods and services related to the construction sector is anticipated to grow by 3 percent in 2023, surpassing USD 193 billion. This growth will account for 5.7 percent of total Arab trade in goods and services during the same year.
