'Construction boom to continue' says ETA at 4th GCC Economic Forum

He was speaking at the summit on the real estate marketplace in the Middle East.

"The Gulf is experiencing an unprecedented period of economic expansion. We expect the growth to average 6.9 percent in real terms among the six GCC members in 2005. The GCC real estate sector is booming with considerable inflows coming from the repatriation of funds in to home markets. Governments within the region have also been proactive in diversifying their economies and the region ahs witnessed a dramatic increase in tourism. The construction spend from entities such as Dubai alone has exceeded $40 billion dollars," added Mr. Jayaraman.

The dynamic ETA Group of Companies has extended support to the 4th GCC Economic Forum organised by Datamatix. The forum addressed major regional and global economic issues and featured world-renowned economists and experts who presented their views on the challenges involved for the GCC economy with Free Trade Agreements. The forum was being addressed by prominent decision makers from across the region. It was being held from December 17 - 21 at the Burj Al Arab in Dubai.

Major topics for discussion at the forum included strategic influence of free trade agreements on the GCC economy, enabling GCC women via leadership, challenges for the GCC banking and finance industry, GCC single currency and customs union, ensuring quality of re-engineering government processes, attracting Foreign Direct Investment (FDI) in the GCC and more.

ETA-ASCON has built an enviable reputation for quality, service and cost-effective technological capability. Headquartered in Dubai, the Group network undertakes construction, contracting and infrastructure project work in several countries, having several branches and associate offices worldwide. Areas of expertise include engineering, contracting, construction, manufacturing, trading, shipping, transportation, jewellery, travel, consumer electronics, recycling, automobiles, building maintenance, information technology, human resources management and real estate among other lines of business.