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UAE set for 2011 construction boom

30th July 2010 | back to article listings BACK    print this article PRINT

Property and infrastructure developments worth $714.8 billion are set to reignite the United Arab Emirates' construction sector next year, a study has claimed.

The Dubai Chamber of Commerce and Industry said that as the long-term effects of the global economic downturn subside, the country's construction industry will pick up where it left off in 2008 with billions of pounds worth of developments that are currently at design stage or already underway.

While construction is typically seen as the last of the key industrial sectors to emerge from a period of recession, the Gulf states do not appear to share their European counterparts' desire for austerity, with Saudi Arabia detailing projects worth $283.8 billion for 2011 alone.

The announcement will make for positive reading among domestic and foreign contractors who have been on the receiving end of a drought in construction activity in the region since the economic downturn went global at the end of 2008.

But rather than tread carefully amid still uncertain economic times, developers are keen to resume business as usual in the UAE and beyond and continue the level of growth witnessed in the pre-recession boom period.

Copyright © Press Association 2010

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