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. More info