UAE tops with $35bn building projects
01 November 2005
The UAE has stamped its domination in the region’s construction sector by kicking off projects worth over Dh130.6 billion ($35.55 billion), this year.
The developments account for 63.7 per cent of the value of projects under construction in the GCC countries, according to a study commissioned by the Abu Dhabi National Exhibitions Company (Adnec).
Saudi Arabia occupies a distant second with Dh28.9 billion, followed by Qatar (Dh16.88 billion), Kuwait (Dh12.8 billion), Bahrain (Dh7.34 billion) and Oman (Dh5.1 billion).
As of last June, a total of 1,825 building projects were being implemented in the GCC market. The UAE leads with 820 projects or 46 per cent.
Currently, 214 construction projects are under way in Bahrain, 209 in Qatar, 208 in Saudi Arabia, 207 in Kuwait and 167 in Oman, says the study.
Adnec commissioned the study as part of preparations for the Construct Abu Dhabi 2006 Exhibition and Conference, to be held in the UAE capital next April 2 to 5.
“Reflecting the vibrancy of the region's construction sector, Construct 2006 is projected to double its exhibit space to over 14,500 sq m compared to 6,500 sq m at the previous event.
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