Dubai construction projects estimated
Some $200 billion worth of projects are currently underway in the emirate of Dubai, according to Khaleej Times.
Additionally, more than $250 billion worth of project are underway in the GCC region as a whole.
A significant increase in the cost of building materials is also thought to have exacerbated the problem. Though market corrections have eased the shortage somewhat, developers still find it hard to find a local contractor and to have their projects delivered on time.
- Local real estate contractors in the UAE hard to come by
- Mena jack of all trades with projects totaling $2.5 trillion underway
- Construction boom tops US$2.4 trillion in Gulf projects
- Abu Dhabi: Residential and commercial building projects leading construction boom
- Regional project values top $1 trillion