UAE infrastructure projects to hit $89.93bn by 2026
The value of infrastructure projects in the UAE is expected to reach $89.93 billion by 2026 according to a report by BMI Research.
The UAE is forecast to rank nineteenth among the biggest construction markets in the world, which would account for 13.8% of the country’s gross domestic product (GDP) in the same year.
- Samsung C&T among contractors for $860mn Singapore North-South Corridor tunnel
- India’s Zojila project: Construction begins on Asia’s largest bi-directional road tunnel
- Click here to read the June edition of Construction Global magazine
The huge investments pumped into the UAE transportation, energy, and tourism sectors in both Dubai and Abu Dhabi will boost growth in the coming decade, the UK-based research firm added.
In May, this year, UAE was named among the world's top locations in which to invest in infrastructure according to data published in by Bank of America Merrill Lynch.
The UAE ranked third behind Singapore while Saudi Arabia was prominent in 15th place. Dubai has made massive investments in infrastructure projects related to the international trade fair with Expo-related projects hitting $42.5 billion as of March 2018.