Dubai's construction sector looks forward to 'promising 2011'

20/07/2010 - Dubai Property News
Dubai's construction sector looks forward to 'promising 2011'

Posted by Bob Brunskill

Dubai's construction sector is expected to rebound next year on the back of the large amount of projects being awarded in 2010.

A study by Dubai's Chamber of Commerce and Industry found that in recent months, firms in the UAE have been branching into new markets and switching their focus from private to public sector schemes in a bid to win work in an increasingly competitive environment.

"This trend is expected to continue in the short-term with the UAE government's drive to stimulate the economy by spending heavily on infrastructural projects," said the body.

In addition, the research found that more than $714.8 billion worth of construction projects are currently either at design stage or underway in the UAE.

Elsewhere, the Dubai chamber pointed to the fact that the UAE is planning to expand its rail network with the development of three rail schemes while also making strong investments in social infrastructure such as hospitals, schools and museums.

Meanwhile, it was reported last week that Dubai is becoming an increasingly popular destination among budget hotel chains, particularly as the business travel industry picks up once more.ADNFCR-2019-ID-19899285-ADNFCR

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