Dubai PR Network, Online Press Release from Dubai and Middle East
 
Infrastracture, Construction & Manufacturing(Real Estate & Retail)
Filter PR by
  
Value of UAE's building projects reaches Dh836 billion in Sept 2017
 
Value of UAE's building projects reaches Dh836 billion in Sept 2017
The latest BNC Network’s report shows, 7,878 building projects are active in the UAE – reflecting the vibrancy of the construction activities in the building sector
 
News Announcements
  1. The total value of 7,878 building projects in the UAE reaches Dh836 billion (US$227.9 billion) in September 2017 
  2. Of all the building projects, US$100.5 billion worth of projects are high-rise towers, rising above 15 floors 
  3. In terms of value, US$121.1 billion worth of buildings are being built in Dubai, while US$64.3 billion worth of projects are being developed in Abu Dhabi 
  4. Number of building projects increased by 2% in August 2017 
  5. A total of 228 building projects with a combined estimated value of US$4 billion were completed during August 2017 
  6. BNC Network tracks 25,324 live projects worth Dh26.4 trillion across the GCC 
Dubai, UAE, September 11, 2017:  Total value of 7,878 active building projects in the UAE reached US$227.9 billion (Dh836 billion) at the beginning of September 2017, according to BNC Network, the largest and most comprehensive project research and intelligence provider in the Middle East and North Africa (MENA) region. 
 
Of these building projects, high-rise buildings account for US$100.5 billion while mid-rise and low-rise buildings account for US$64.5 billion and US$62.9 billion, respectively, as per BNC Construction Intelligence. 
 
Among the 7,878 projects, the majority are located in Dubai and the Northern Emirates. As many as 3,857 buildings are coming up in the Northern Emirates while 2,812 in Dubai and 1,208 are located in Abu Dhabi. However, in terms of value, US$121.1 billion worth of buildings are being developed in Dubai, US$64.3 billion worth of projects in Abu Dhabi and the rest US$42.6 billion are being built in the Northern Emirates. 
 
In August, the number of building projects in the UAE increased by 2 per cent as compared to July, 2017, but in dollar terms, there has been no significant movement, as per BNC project intelligence. 
 
“Our findings clearly show that buildings projects are going ahead as planned due to anticipated rise in demand in the coming years with the run up to the historic Expo 2020,” Avin Gidwani, Chief Executive Officer of BNC Network, says. “Most project owners, developers are looking at completing their building projects before October 2020 when Dubai expects to receive 20 million hotel guests as well as 25 million visitors to the Expo site.” 
 
The building industry constitutes 83 per cent of all active projects in the UAE’s urban construction sector and in dollar terms these projects account for 44 per cent of the total estimated value. 
 
A total of 48 building projects with a combined estimated value of US$2.5 billion moved to construction from other stages during the month. The largest building project in dollar terms to be awarded in the month of August was the 729-villa complex project which is a part of Sheikh Zayed housing program located in Al Montezi in Ajman worth US$272 million. 
 
“The report clearly reflects strong building project activities across the UAE, despite a low-oil price environment that could have negatively impacted the building projects and construction sectors. However, we see no let-up in building and construction activities in the UAE – that reflects the resilience of the country’s economic activities and development – that are sustainable in the long run,” Gidwani says. 
 
“Most building projects are being gradually occupied by buyers and end-users, despite the change in pace in economic activities – and that’s what make the industry more sustainable.” 
 
A total of 228 building projects with a combined estimated value of US$4 billion were completed during the month. The largest project in dollar terms to be completed in August was the Presidential Palace project located in Abu Dhabi worth US$1.6 billion. 


Posted by : Dubai PR Network Editorial Team
Viewed 11151 times
PR Category : Real Estate & Retail
Posted on : Monday, September 11, 2017  2:03:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Awqaf and Minors Affairs Foundation Inaugurates His Excellen...
Next Story : Value of 21,893 construction projects in the GCC reaches Dh8...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Sacoor Brothers launches FIRST ever Fragrance “GENTLEMAN” [16238-Views]
Get Your Summer Glow From Within [14939-Views]
Palmer's Coconut Oil Formula for Body and Hair [12816-Views]
Express Your Signature Style [12383-Views]
The Memovox Adventure [11273-Views]
Cerruti 1881 Infinite Love [10114-Views]
Tissot Lepine It's making a comeback Vintage [10022-Views]
OMEGA's second "Speedy Tuesday" sells in 01:53.17 [8778-Views]
Manero Peripheral (43 Mm) Classic Watchmaking Meets State -of-the - Art Technology [8455-Views]
The Lacoste Family Capbreton Collection [7893-Views]
Olivia Burton Watercolour Florals [7296-Views]
Ferrari takes the “Red Dot: Best of the Best” design award for the fourth year running [7198-Views]
Ulysse Nardin Salutes Us Navy With Limited Edition Executive Skeleton Tourbillon [7119-Views]
New short indie movie ‘The Peril' is a wake-up call to parents about internet safety for k... [7052-Views]
Beat the heat with mini dresses [6655-Views]
Innovative Chronofighter Superlight Carbon is replete with Graham's formidable motorsport ... [5508-Views]
DKNY Fall 2018 [5460-Views]
UAE's Emirates Transport Chooses Oracle Cloud to Drive Rapid Expansion and Deliver Excepti... [5392-Views]
Enjoy an all-day breakfast at Sophie's Café [5331-Views]
Tissot T-Race Cycling An adrenaline-fuelled ride [5295-Views]
Marchon Eyewear and G-III Apparel Group Sign Exclusive Global Licensing Agreement For DKNY... [5179-Views]
Tridom, Ras Al Khaimah's first indoor adventure park, opens its doors in Manar Mall [5161-Views]
Jaeger-Lecoultre Main Sponsor of the 75th International Film Festival of La Biennale Di V... [5118-Views]
Travel Light with Beauty Essentials from Glambeaute.com [5118-Views]
Dubai Camel Racing Club Honours Al Tayer Motors [4898-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories