UAE: Construction sector very far from dead
Contracts worth $15.068 billion are to be awarded in UAE, an increase of 26.57 percent from last year. The latest figures from research specialists Ventures Middle East have been released in the build-up to World ecoConstruct, featuring Infrastructure Arabia Summit.
The total value of current UAE construction projects is $1.249 trillion with buildings accounting for $871.6 billion, energy, oil and gas, petrochemicals, power and water projects, $190.9 billion, and infrastructure viz, roads, bridges, rail, sewerage, wastewater and marine projects amounting to $187.2 billion. Masdar City, is a leader in this and aims to become one of the world’s most sustainable cities in the world powered by renewable energy.
Associate exhibition Director Marie-Eve Cote said, “One of the keys to solving global environmental issues is an increased collaboration between leading construction material producers and those charged with creating, and delivering, a low carbon future environment.” Across the GCC, sustainable building projects spearhead the growing real estate construction boom.