People looking for property investments in Dubai may be interested to learn that almost half of the building projects in the Gulf are located in the United Arab Emirates (UAE).
New figures cited in the Saudi Gazette have demonstrated that the UAE accounts for some 45 per cent of building projects.
The report claimed that projects in the country are worth as much as $930 billion (£572 billion) and eight out of ten ventures are in the construction sector.
It also noted the UAE is the leading nation in the region when it comes to construction and real estate, outstripping all Gulf Cooperation Council stated in terms of total value.
Furthermore, the value of property in Dubai is four times the level experienced in June 2005, despite the global economic downturn, enjoying an annual growth rate of almost 50 per cent.
This follows a Jones Lang LaSalle study that suggested commercial property in Dubai was increasingly attractive to tenants, thanks to reduced rental costs and low occupancy levels.