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.
- Construction costs of Burj Dubai development estimated
- Dubai to pour 300bn dirhams into construction projects over next decade
- UAE: $1.25 trillion, the combined value of projects under construction
- Dubai’s top construction firm Drake & Skull profits drop in Q3
- Dubai construction projects underway valued at $390B