But the buoyant market is starting to attract global players, which means competition for megaprojects will become increasingly aggressive. Life is about to get harder rather than easier for local contractors.

Global construction giants such as France’s Vinci and Germany’s Hochtief are finally entering the region, launching their project portfolio with the causeway linking Bahrain and Qatar.

In terms of the volume of work they carry out, these firms are world leaders and are no strangers to tackling difficult market conditions and technically complex work. They also have an advantage when it comes to recruiting project managers and senior staff. Their global presence means they can hire sought-after skills anywhere in the world and move them to where they are needed most.

Saudi Arabian firms, such as Saudi Oger and Saudi Binladin Group, have been used to dominating the regional market and they will not lose their lead overnight. They will, however, face stiffer competition in their home market from rivals such as Arabian Construction Company and Al-Habtoor Leighton, which are both planning to expand aggressively outside their base in the UAE.

The expansion of such firms into Saudi Arabia will also increase regional competition for manpower. Labour has traditionally been easier to source in Dubai and Abu Dhabi than in Saudi Arabia, and workers may be more likely to move to the kingdom with an existing employer.

There is no doubt that contract opportunities will continue to be plentiful - it is in obtaining resources that companies will struggle. While Gulf firms have local knowledge, their global rivals have wider experience. Contractors offering the best salaries, training and living conditions will get the best staff, and it is here that firms must really compete.