MIDDLE EAST (The Middle East countries are forecast to see minimal GDP growth in the 3rd & 4th Q of 2020):

Oil prices have plummeted by more than a third in the last two months. The falling demand for oil and the effect of the Coronavirus Pandemic, in addition to the ongoing Russia V Saudi Arabia price war is leading to layoffs, downsizing, unpaid leave, project delays / cancellations & major CAPEX reductions across all Middle-East construction sectors.

Qatar, Jordan, Kuwait, Libya, the UAE & Saudi Arabia are in the same boat as many other countries. These countries are pronouncing new hygiene & travel restrictions, procedures & protocols as the number of Coronavirus infections keeps ramping up.

The Coronavirus Pandemic has the potential for all Middle-East future or current ongoing construction projects to be delayed or worst case postponed. The economic impact and fallout of the Coronavirus still needs TBD.

2020 Global Construction Costs Yearbook

Compass International's 500+ page publication provides “current” detailed information on construction cost specific to 101 countries worldwide.

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