Dubai – Mubasher: The combined value of the 11,755 active construction projects in the UAE exceeded $818.2 billion (AED 3 trillion) in November 2017, Business News for Construction’s (BNC) network report said on Monday.
Based on these findings, the UAE ranked second among the largest Arab economies and topped construction markets in the Arab World and the Middle East and North Africa (MENA) region, BNC stated.
The UAE’s 11,755 construction projects account for 52% of 22,680 active construction projects in the GCC, making up 33.6% of the GCC construction projects' combined value, which equals $2.43 trillion (AED 8.91 trillion), said BNC Network CEO Avin Gidwani.
About 9,972 or 85% of the UAE’s construction projects are urban projects with a total value of $537 billion (AED 1.97 trillion), BNC’s data showed.
“The Notable projects announced in the third quarter of 2017 included Aljada Residential City, Expansion of Borouge Petrochemicals Complex and Emirates Towers Business Park,” the construction intelligence database concluded.
