Some 77 per cent of respondents say they are optimistic overall for prospects in the Gulf area - but this is down 13 per cent on the level of optimism that was expressed 12 months ago. Some 33 per cent are expecting an increase in their order books - compared to 43 per cent last year. Saudi Arabia is expected to be the best performing market. Although there are fewer disputes going on, there is still 'a real concern around the administration of contracts', according to Pinsents. 

Saudi prospects

Sachin Keur, the Pinsents managing parter in the Gulf, said: 'Construction firms have long perceived the opportunity in Saudi Arabia as being the most promising in the region. But, in the past, the challenge of doing business there has meant opportunities haven't always come to fruition. This situation now seems to be changing, with the ease of doing business starting to improve. This suggests we may see more opportunities converting within The Kingdom in the years ahead, which chimes with the more open sentiment emerging from the Saudi authorities.' Source: Zawya