Dubai has 3,700 ongoing construction projects worth $400 billion

Dubai has 3,700 ongoing construction projects worth $400 billion
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Published August 21st, 2016 - 08:00 GMT via SyndiGate.info

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The report estimated that the total spend on infrastructure projects related to Dubai Expo 2020 might reach up to $18 billion. (File photo)
The report estimated that the total spend on infrastructure projects related to Dubai Expo 2020 might reach up to $18 billion. (File photo)

More than 3,700 projects worth around $400 billion are currently ongoing in Dubai, UAE, according to a new report.

A large number of these projects, with an estimated value of over $100 billion, are in advanced stages of construction, said the BNC’s “Dubai Construction Market 2016” study, according to an Infrabuddy report.

The report was commissioned by The Big 5, the largest construction industry event in the Middle East.

However, approximately 21 per cent of them of the projects are on hold, the report said.

Commercial and residential units, education, health care and hospitality buildings, leisure and recreation facilities, religious buildings, retail facilities and mixed use urban developments make up approximately 77 per cent of all projects in Dubai, with a value amounting to almost $320 billion.

 “A growing population, the tourism sector, strategic government investments like the Dubai Plan 2021 and the Dubai Expo 2020 are fueling the local construction industry”, Josine Heijmans, event director of The Big 5, said.

The report estimated that the total spend on infrastructure projects related to Dubai Expo 2020 might reach up to $18 billion, with estimated development costs of the Dubai South Area between $8.1 billion and $8.7 billion.

Taking place at the Dubai World Trade Centre from 21 to 24 November, The Big 5 2016 is expected to host over 3,000 exhibitors, attracting approximately 75,000 visitors.

The 2016 edition of The Big 5 will welcome attendees with a brand new floor plan, said organisers, dmg events Middle East, Asia & Africa.

“The new layout with dedicated product sectors will make it easier for visitors to navigate the show and find the products they are looking for,” said Heijmans.

Copyright 2016 Al Hilal Publishing and Marketing Group

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