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 Buildings and construction market trends in the GCC countries will reach $5.4 billion in 2027

A recent report was published on the size of the structural steel and prefabricated buildings market in the GCC countries, in which it indicated that the size of the prefabricated buildings and structural steel market in the GCC countries would reach USD 3.8 billion in 2021.

The structural steel and prefabricated buildings market is expected to reach USD 5.4 billion by 2027, at a compound annual growth rate of 6.03% over the period 2021-2027.

It was indicated in the report that the size of the increase was due to several factors, including:

– The increasing population in the GCC countries has led to an increase in the construction and reconstruction activities of residential and commercial buildings, and this is one of the main factors that positively affects the market.

– Increased investments in mega infrastructure projects, including the construction of roads, railways and airports, provide lucrative growth opportunities for manufacturers.

– The increasing focus of the GCC countries on economic diversification to reduce dependence on the oil and gas sector creates a positive outlook for the market.

–  The surge in the travel and tourism sector, coupled with the various upcoming events in the region, is increasing the demand for convenient and cost-effective construction solutions.

– Introduction of strict government regulations across the region to improve waste management and energy saving drives the market growth.

– Moreover, prefabricated buildings do not generate any waste on-site and are more environmentally friendly than traditional buildings.

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لوريم ايبسوم هو نموذج افتراضي يوضع في التصاميم لتعرض على العميل ليتصور طريقه وضع النصوص بالتصاميم سواء كانت تصاميم مطبوعه لوريم ايبسوم ليتصور طريقه لوريم ايبسوم.

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Arab Iron and Steel Union was established in Algeria in 1972 as the first Arab Union of the Arab countries to be founded under the Council of Economic Unity umbrella in the League of Arab States.

It is the first Arab organization to specialize in the iron and steel field, and its tasks fall within making plans aimed mainly at developing and growing the iron and steel industry in the Arab world.

Arab Iron and Steel Union comprises a wide range of multi-activity companies related to the iron and steel industry from the Arab countries.

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