<The Dubai Chamber of Commerce and Industry (DCCI) has confirmed that the UAE remains the largest construction market in the region, accounting for 52% of infrastructure, building and construction projects.
In a study on the expectations of the construction sector in the UAE and its comparison with the Gulf countries, the Chamber estimated the value of current infrastructure projects at more than 2.62 trillion dirhams, stressing that this value is the highest compared to the various Gulf countries.
According to the study reported by the UAE newspaper “Al Bayan”, the UAE government has been clear in its commitment to diversify the economy, noting that the construction sector plays an important role in this, but the global economic crisis that began at the end of 2008 led to the sudden stop of the boom in this sector in the UAE. Since then, a number of construction projects have been canceled or postponed and there are few new projects that will be implemented. It confirmed that there are more than Dh2.62 trillion worth of construction projects in the UAE, and that these projects are currently at the design stage or on their way to it.
According to the study, Saudi Arabia is the second most active real estate market in the Gulf region with $283.8 billion worth of planned projects.