Dubai leading construction boost

24/08/2010 - Dubai Property News
Dubai leading construction boost

Posted by Neil King

Dubai is leading the emirates with a boost in the construction sector, according to one contracting firm.

Shaikhani Contracting, part of the Shaikhani Group, announced that the construction sector in the UAE is experiencing a gradual turnaround, with major developers in Dubai paying contractors and the region receiving 26,650 new apartments and villas.

"Things are certainly looking up for the construction sector and opportunities for contractors still exist," the firm said.

This will come as welcome news to people looking to buy property in Dubai after the emirate was forced to shelve a number of projects last year worth a total of AED500 billion, Emirates 24-7 reported.

Rizwan Shaikhani, managing director of Shaikhani Contracting, added: "This welcome development regarding the faster interval of payment for dues owed to contractors bodes well for our plans to grow our operations in the UAE."

The firm said that it plans to increase construction projects in Dubai owing to support from the Dubai government.