BNC Project Index provides a single metric to evaluate the GCC Construction Market
BNC announces the launch of BNC Construction Project Index, a single metric to gauge the performance of GCC Construction Markets.
The BNC Project Index is based on the region’s largest and most frequently updated project intelligence database since 2004. The project data tracked by BNC Project Database is developed based on extensive primary research which includes thousands of site visits every month and is complemented by thorough secondary research. This extensive underlying data makes the BNC Project Index a simple, practical and reliable gauge of construction market performance.
The BNC Project Master Index is available for every GCC country and the GCC as a whole. In order to provide a deeper understanding of which sectors are driving project activity, the BNC Project Index is also sub-divided into the following two sub-indices:
- BNC Energy Projects Index
- BNC Urban Projects Index
All BNC indices cover projects in concept, design, tender, under construction, and on-hold. BNC indices also specifically exclude the undefined value within multi-billion dollar master developments to prevent megaprojects from skewing the indices.
The BNC Project Index is a single point of reference for businesses to get true insights of the GCC construction market. The BNC Project Index is built relative to the BNC 100 baseline which averages the construction market size over three consecutive years in each GCC country. Benchmarking against the BNC 100 provides a clear and straightforward indication of project market growth or contraction and can also be used to compare the performance of each GCC country.
Addressing the announcement, Mr. Avin Gidwani, Chief Executive Officer of BNC, commented, “The BNC Projects Index is an effective and elegant solution to monitor GCC construction markets because it’s fully substantiated and easy to understand. The BNC Project Index improves economic transparency when it comes to construction.”
About BNC Network:
BNC (Building and Construction) Network, is the flagship construction market digitization initiative of Industry Networks FZC.
BNC Network is a construction intelligence SaaS system integrated with the Middle East and Africa’s largest and most frequently updated project database. With over 29,000 live construction projects estimated at US$ 11.1 trillion, BNC’s coverage spans 72 countries and 5 sectors – the urban construction, oil & gas, transportation, utilities, and industrial sectors. BNC publishes a quarterly construction report called the BNC Projects Journal and the BNC Bulletin, a daily construction newsletter.