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UAE to Be Awards USD15 Billion Construction Contracts in 2012

  • Arabian Business reported that more than USD 15 billion worth of construction contracts is likely to be awarded this year in the UAE.According to a report by research specialists Ventures Middle East, a total of USD 15.068 billion an increase of 26.57% compared to last year will be awarded.The research said that the total value of current UAE construction projects is USD 1.249 trillion with buildings accounting for USD 871.6 billion energy projects for USD 190.9 billion and infrastructure projects amounting to USD 187.2 billion.
  • The figures have been released in the build up to WORLD Eco Construct which takes place in Abu Dhabi in April which focuses on sustainable development in the region. Across the GCC, sustainable building projects spearhead the growing real estate construction boom.Elsewhere, construction on the USD 60 billion Sustainable Economic Cities of Saudi Arabia has begun across the kingdom, while Energy City in Qatar and Sabah Al Ahmed International Finance Centre in Kuwait both place major emphasis on the use of green building technology.Mr Tsitsi Lynn Makuni exhibition director of WORLD ecoConstruct said that "The latest figures illustrate that the Middle East continues its aggressive development plans. The Abu Dhabi Executive Council has approved spending on the new billion dollar airport terminal a metro system, two industrial zones more than 20,000 new homes, 14 new hospitals and 24 new schools."

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