Investment in major projects remains positive despite challenging economic conditions both in the Middle East and globally, a survey revealed recently.

PwC released its findings through its first survey for capital projects and infrastructure in the Middle East, titled ‘Delivering the Middle East’s Mega Projects’.

About 66 per cent of respondents reported spending more than $100 million on major projects in 2012 across a broad range of industry sectors, with 72 per cent expecting to increase their spending in 2013.

The report, released last month, sought to establish issues and challenges facing project owners and explore opportunity markets.

It also sheds light on project financing issues and the funding outlook for 2013.

The survey said 64 per cent of respondents in the Middle East experienced budget overruns; four in five projects were delayed; while three in five projects expect to access private finance next year.