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Construction in Bahrain – Key Trends and Opportunities to 2022

  • Published Date: 28 Feb 2018
  • Number of Pages: 43
  • Category: Construction
  • Country: Bahrain

Synopsis


In real terms, the Bahraini construction industry’s output grew by an annual average of 4.8% during the review period (2013–2017). Although output growth slowed sharply in 2017, the general upward trend can be attributed to public and private sector investment in infrastructure and residential construction projects.

Over the forecast period (2018–2022), government efforts to enhance transport and residential infrastructure will support the growth of the industry. In addition, the government’s aim to improve local energy resources is expected to support investments in energy infrastructure projects, which will in turn fuel growth in the industry. The industry growth will also be driven by the Economic Vision 2030, under which the government aims to diversify the country’s economy away from oil and support economic growth.

The industry’s output value in real terms is expected to rise at a compound annual growth rate (CAGR) of 4.80% over the forecast period, compared to 4.91% during the review period.

Government efforts to diversify the economy away from oil by focusing on non-oil sectors will create growth opportunities for the construction industry.

Summary


Timetric’s Construction in Bahrain – Key Trends and Opportunities to 2022 report provides detailed market analysis, information and insights into the Bahraini construction industry, including:

• The Bahraini construction industrys growth prospects by market, project type and construction activity

• Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the Bahraini construction industry

• Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

Scope


This report provides a comprehensive analysis of the construction industry in Bahrain. It provides:

• Historical (2013-2017) and forecast (2018-2022) valuations of the construction industry in Bahrain, featuring details of key growth drivers.

• Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector

• Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.

• Listings of major projects, in addition to details of leading contractors and consultants

Reasons To Buy


• Identify and evaluate market opportunities using Timetrics standardized valuation and forecasting methodologies.

• Assess market growth potential at a micro-level with over 600 time-series data forecasts.

• Understand the latest industry and market trends.

• Formulate and validate strategy using Timetrics critical and actionable insight.

• Assess business risks, including cost, regulatory and competitive pressures.

• Evaluate competitive risk and success factors.

Key Highlights


• Timetric expects the infrastructure construction markets output to record a forecast-period CAGR of 18.68% in nominal terms. Under the Airport Modernization Program (AMP), the government plans to spend BHD414.1 million (US$1.1 billion) to modernize the country’s airport infrastructure by 2020. Through this, the government aims to increase the annual passenger-handling capacity of the country’s airport from 9.0 million in 2017 to 16.0 million by 2020.

• Timetric expects the energy and utilities construction market to retain its leading position over the forecast period, with 33.7% of the industry’s total value in 2022. In 2017, the government issued tenders for the construction of 1.5GW of gas-fired power plants, with an investment of BHD564.0 million (US$1.5 billion) by 2020. In addition, the government plans to invest BHD789.6 million (US$2.1 billion) to build four gas turbines and two steam turbines with an aim to produce 1.2GW of energy by 2020.

• Housing supply in Bahrain is relatively low compared to demand, which provides opportunities for residential developers. Accordingly, in a bid to provide housing to meet demand from lower- and middle-income groups, the government is focusing on the construction of new housing units in the country. In 2017, the government launched the Mazaya program, a social housing finance scheme through which it plans to provide financial assistance to citizens who earn between BHD600.0 (US$1,595.7) and BHD1,200 (US$3,191.5) so they can purchase their own houses.

• The energy and utilities construction market is expected to be supported by public and private sector investments in water infrastructure. In 2017, the government announced plans to invest BHD1.2 billion (US$3.2 billion) to upgrade the countrys water-treatment capacity from 2,325m3 per day in 2017 to 6,500m3 by 2020.

• The total construction project pipeline in Bahrain, as tracked by the Construction Intelligence Center (CIC), including all mega-projects with values above US$25 million, stands at BHD28.7 billion (US$76.5 billion). The pipeline, which includes all projects from the pre-planning to execution stages, is heavily dominated by late-stage projects, with 67.9% of the pipeline value being in projects in the pre-execution and execution stages as of February 2018.

Publisher Name : Timetric


1 Executive Summary
2 Construction Outlook: At-a-glance
3 Latest News and Indicators
4 Key Drivers and Risks
4.1 Economic Performance
4.2 Political Environment
4.3 Demographics
5 Construction Outlook
5.1 All Construction
5.1.1 Outlook
5.1.2 Project analytics
5.2 Commercial Construction
5.2.1 Outlook
5.2.2 Project analytics
5.3 Industrial Construction
5.3.1 Outlook
5.3.2 Project analytics
5.4 Infrastructure Construction
5.4.1 Outlook
5.4.2 Project analytics
5.5 Energy and Utilities Construction
5.5.1 Outlook
5.5.2 Project analytics
5.6 Institutional Construction
5.6.1 Outlook
5.6.2 Project analytics
5.7 Residential Construction
5.7.1 Outlook
5.7.2 Project analytics
6 Key Industry Participants
6.1 Contractors
6.2 Consultants
7 Appendix
7.1 What is this Report About?
7.2 Definitions
7.3 About Timetric
7.4 About CIC
7.5 Disclaimer

List of Tables


Table 1: Bahrain, Key Economic Indicators
Table 2: Bahrain, Construction Output Value (nominal, BHD Million)
Table 3: Bahrain, Construction Output Value (nominal, US$ Million)
Table 4: Bahrain, Top Commercial Construction Projects by Value
Table 5: Bahrain, Top Industrial Construction Projects by Value
Table 6: Bahrain, Top Infrastructure Construction Projects by Value
Table 7: Bahrain, Top Energy and Utilities Construction Projects by Value
Table 8: Bahrain, Top Institutional Construction Projects by Value
Table 9: Bahrain, Top Residential and Mixed-Use Construction Projects by Value
Table 10: Bahrain, Key Contractors
Table 11: Bahrain, Key Consultants
Table 12: Timetric Construction Market Definitions
Table 13: Construction Risk Index Ratings and Scores

List of Figures


Figure 1: Key Markets, Construction Output Growth Matrix
Figure 2: Bahrain, Construction Projects Pipeline by Sector (BHD Million)
Figure 3: Bahrain construction industry value add, (Unit BHD, Million)
Figure 4: Bahrain, Construction Output Value (Real, US$ billion, 2010 prices and exchange rate)
Figure 5: Bahrain, Construction Output Value, Growth Matrix
Figure 6: Bahrain, Construction Output Value, by Sector (BHD Million), 2013–2022
Figure 7: Bahrain, Construction Projects Pipeline, Projected Annual Spending by Stage (BHD Million), 2017–2022
Figure 8: Bahrain, Construction Projects Pipeline, Value by Stage (BHD Million)
Figure 9: Bahrain, Commercial Construction Output by Project Type (BHD Million), 2013–2022
Figure 10: Bahrain, Commercial Construction Projects Pipeline, Value by Stage (BHD Million)
Figure 11: Bahrain, Commercial Construction Projects Pipeline, Projected Annual Spending by Stage (BHD Million)
Figure 12: Bahrain, Industrial Construction Output by Project Type (BHD Million), 2013–2022
Figure 13: Bahrain, Industrial Construction Projects Pipeline, Value by Stage (BHD Million)
Figure 14: Bahrain, Industrial Construction Projects Pipeline, Projected Annual Spending by Stage (BHD Million)
Figure 15: Bahrain, Infrastructure Construction Output by Project Type (BHD Million), 2013–2022
Figure 16: Bahrain, Infrastructure Construction Projects Pipeline, Value by Stage (BHD Million)
Figure 17: Bahrain, Infrastructure Construction Projects Pipeline, Projected Annual Spending by Stage (BHD Million)
Figure 18: Bahrain, Energy and Utilities Construction Output by Project Type (BHD Million), 2013–2022
Figure 19: Bahrain, Energy and Utilities Construction Projects Pipeline, Value by Stage (BHD Million)
Figure 20: Bahrain, Energy and Utilities Construction Projects Pipeline, Projected Annual Spending by Stage (BHD Million)
Figure 21: Bahrain, Institutional Construction Output by Project Type (BHD Million), 2013–2022
Figure 22: Bahrain, Institutional Construction Projects Pipeline, Value by Stage (BHD Million)
Figure 23: Bahrain, Institutional Construction Projects Pipeline, Projected Annual Spending by Stage (BHD Million)
Figure 24: Bahrain, Residential Construction Output by Project Type (BHD Million), 2013–2022
Figure 25: Bahrain, Residential Construction Projects Pipeline, Value by Stage (BHD Million)
Figure 26: Bahrain, Residential Construction Projects Pipeline, Projected Annual Spending by Stage (BHD Million)
Figure 27: Bahrain, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 28: Bahrain, Headquarters of Foreign Contractors (% of Project Pipeline with Foreign Contractor)
Figure 29: Bahrain, Headquarters of Key Consultants (% of Total Project Pipeline)
Figure 30: Bahrain, Headquarters of Foreign Consultants (% of Project Pipeline with Foreign Consultants)



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