‘Cautious optimism' returns to Gulf

PPP opportunities in the Gulf region are set to increase by 6% next year, according to a new survey.

The number of companies involved in or who anticipate being involved in PPP projects in 2011 jumped from 30% to 36% in the latest Gulf survey from law firm Pinsent Masons.

Power, water and wastewater were identified as the sectors with the most opportunities for growth.

The results reveal a startling turnaround in sentiment for the region – this time last year over 80% of survey respondents reported problems with projects being held up by funding.

"Cautious optimism" is returning to the Gulf market, said Sachin Kerur, head of Pinsent Masons United Arab Emirates office.

According to the results, the countries delivering the strongest growth (Kuwait, Qatar and Saudi Arabia) were also named as "most challenging" to operate in.