Nearly three quarters of businesses expect to increase their spending this year on mega infrastructure projects in the Middle East, according to a survey by professional services firm PricewaterhouseCoopers (PwC).
It says its 2012 Capital Projects and Infrastructure Survey showed that 72% of respondents are forecasting increased spending, despite 64% experiencing budget overruns. Another 80% said their projects had faced delays in the past year.
"This is a positive indicator," Chris Scudamore, PwC Partner based in Doha, said. "The message is that they are investing in new different projects, not only on the ones they are working on right now."
The survey was completed by 61 respondents from a range of industry sectors, all with a key role in the delivery of major projects.