Dubai’s strong construction trends look set to continue through 2017, according to a report.
A total of 4,000 construction projects worth $313.6 billion are currently under way in the emirate. This includes projects that are in the concept, design, tender, under construction and on-hold phases, and constitutes 39 percent of the number of active projects in the United Arab Emirates (UAE) and 42 percent of the total estimated value of all active projects in the UAE.
The report issued by Business News for Construction (BNC) said that the urban construction sector has more than 3,200 active projects amounting to a combined estimated value of over $245 billion. This is followed by the transport sector with 187 projects valued at $32.4 billion, the utilities industry with 203 projects valued at $24.3 billion, 377 industrial projects worth $5.8 billion, and 12 projects in the oil and gas sector totalling $4.6 billion.
Some of Dubai’s current multi-billion-dollar projects include Dubai Metro Red Line Extension, which is a part of the Expo 2020 initiative, Container Terminal 4 of the Jebel Ali Port Expansion project and the Royal Atlantis Resort and Residences located in Palm Jumeirah.
The significant announcement of the “Dubai Harbor” project by Sheikh Mohammed Bin Rashid Al-Maktoum, vice president and prime minister of the UAE and ruler of Dubai, in January 2017 will see the construction of an impressive waterfront development spanning more than 20 million sq. feet.
Source: Arab News
GMT 17:42 2018 Wednesday ,03 January
PML-N fulfilled its obligation to overcome country’s energy deficit: PMGMT 17:39 2018 Wednesday ,03 January
BP says to take $1.5bn hit on US tax reformsGMT 17:36 2018 Wednesday ,03 January
China factory activity accelerated in December: CaixinGMT 10:46 2017 Thursday ,21 December
China's economic growth to slow next yearGMT 17:25 2017 Tuesday ,19 December
GFH acquires two trophy Chicago properties for US $150 millionGMT 11:59 2017 Tuesday ,19 December
N. Korean incomes improving but far below SouthGMT 15:16 2017 Thursday ,14 December
EU agrees increases in fishing quotasGMT 12:32 2017 Thursday ,14 December
N. Korea's overseas financial network squeezed by USMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©