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Increasing Real Estate Projects Set to Boost the UAE Construction Sector
by Shushmul Maheshwari on Jan 21, 2011
According to our research report “UAE Construction Industry Outlook to 2012”, the UAE possesses a booming real estate sector. The UAE has been described as the world’s most buoyant property market. The UAE’s real estate sector expanded by around 4.3% in 2009, despite a downturn in activity following the 2008 global financial distress. Despite the cancellation of 566 projects in the UAE, a total of 806 properties currently under construction are expected to be delivered soon and this will help attain stability in the property sector and hence, will contribute to the growth of construction industry.
Our study has indicated that the estimated value of residential projects in the UAE was more than double in 2010 due to many projects in pipeline after a delay in projects during 2009. Besides residential sector, commercial real estate sector is witnessing number of projects in pipeline. As per our study, the UAE office sector is ahead of rest of the GCC in terms of...Read More >>
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