$46 billion worth of construction contracts awarded in 2014

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Because of the growing development presented by the property and construction division in the UAE and across the nation, Dubai Investments revealed it has improved the production capacities of its subsidiaries commerce in the building materials souk.

$46 billion worth of construction contracts awarded in 2014

$46 billion worth of construction contracts awarded in 2014

Construction activity in the UAE has considerably improved this year, with projects worth $46 billion granted in 2014, as compared to $38 billion from 2013. The sector is estimated to boost the UAE’s GDP by 4% to $404 billion in 2014 in contrast with $390 billion in 2013.

High demand as a result of the construction growth in Saudi Arabia, Oman, Kuwait, and Qatar and across the Middle East is placing added demand on the capacities of the companies dealing in building materials, according to the general manager of Dubai Investments.

He also averred that the construction sector has always been a key source in compelling progress for the UAE’s economy and the recent upturn, particularly in residential projects, has led to unparalleled demand for class building materials and advances which proffers them a vast increase prospect.

They are also convinced that the solid demand in the construction area will remain in the predictable outlook.

Mohamed Dekkak