Civil construction projects approach $700bn

05/02/2009 - Dubai Property News
Civil construction projects approach $700bn

Current civil construction projects underway in the UAE are worth $698 billion, Proleads Global has found.

A new comprehensive report published by the group, the first of its kind in the UAE, has found that work on property in Dubai and other emirates, infrastructural upgrades and leisure and entertainment facilities is continuing apace.

"To put it into perspective, the $698bn of continuing work we are reporting is almost equivalent to the latest stimulus package proposed for the United States," said Emil Rademeyer, director of the Dubai-based group.

The company examined 1,289 residential, commercial and public real estate developments in the UAE, in addition to an investigation of construction on roads, railways, bridges, ports, educational and healthcare facilities.

So too, the group has given an up-to-date analysis of the development of new leisure facilities such as sports centres, hotels and theme parks.

Proleads provides an online real estate analysis service covering the UAE and other key Middle Eastern and Gulf Cooperation Council countries.