There isn't anyone in the Arabian Gulf states that doesn't know that the region's oil reserves aren't going to last more than another century and possibly a lot less. As a result, there is a serious effort among said states to diversify their economies, to make them less reliant on oil exports. The way that most governments have chosen to accomplish this goal is to use oil revenues to fund massive construction projects. According to the Gulf News there are a few someones in the World Bank that think this approach has reached or maybe even gone beyond the point of diminishing returns:

Governments in the region are ploughing money into giant infrastructure projects to help wean their economies off oil exports. More than $1 trillion worth of projects are in the pipeline. "There is enough construction...," Hossein Razavi, director of the World Bank's private sector finance and infrastructure department in the Middle East and North Africa, told Reuters in an interview.

The consequences of the over-emphasis on construction, Razavi says, is higher inflation:

Last week the UAE economy minister blamed a spike in inflation, estimated at around 6 per cent in 2005, on soaring construction costs, driven by regional demand for everything from cement to labour. ... Last week the UAE economy minister blamed a spike in inflation, estimated at around 6 per cent in 2005, on soaring construction costs, driven by regional demand for everything from cement to labour.