According to a new study conducted by EC Harris, a United Kingdom based built asset consultancy firm, the construction projects by 2030 in UAE will hit at the amount of $329 Billion.
Entitled, “Middle East major construction programs – mitigating the risk”, UAE is due to spend $329 billion delivering major construction programs on the forecasted year.
These construction programs, defined as programs costing more than $1billion and delivered over a relatively short period of time, are set to peak in the UAE in 2016 with $40.4 billion due to be completed.
With other Middle East countries undertaking their own programs, the report highlights the potential squeeze on labor and material resources which could impact delivery.
Across the Middle East the report found that more than 117 major programs, incorporating major infrastructure, energy, property and transportations projects, are planned for completion by 2030 costing more than $1tr.