Construction contracts total USD22bn in the UAE in 1H17
A total of USD22bn worth of construction contracts were awarded in the UAE in1H17, according to a Construction Intelligence Report by Faithful + Gould, which is forecasting a total of USD45bn for the full year (vs. AED43bn in 2016). The report added that backlog shrunk by USD17bn as major project concluded and were not replaced as quickly, but noted that the industry is looking towards Dubai Holding, which has already unveiled the USD1.7bn Marsa Al Arab tourism project in May and the USD1.36bn Emirates Towers Business Park in July.
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