Special Features
UAE’s $44 billion contract awards in 2013 second highest in GCC
During 2013 a total of $44 billion projects were awarded in the UAE with more than 60 per cent of the awards in the Construction (real estate) sector, MEED Projects announced at its first quarter update briefing held at the Address Hotel, Dubai Marina. "The UAE was second only to Saudi Arabia’s $66 billion" said Julian Herbert, Director of MEED Projects. "Not only is this a 37 per cent increase on the 2012 awards, but over $10 billion worth of projects have resumed construction activity during 2013" Herbert said.The Oil sector was the second most active with just over 21 per cent ($9billion) of awards followed by the Transport sector with 8 per cent ($3.5 billion).
The total value of project awards for the UAE in 2014 will be just shy of $50 billion, which is 10 per cent higher than 2013.
Comparing the first quarter of 2014 against the same quarter in 2013, the total value of contracts was just over $700 million higher than the first quarter of 2013. In both periods the construction sector saw most of the awards with 64 per cent in 2013.
