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UAE civil projects worth $698 billion ongoing

 

Despite the negative impact on the United Arab Emirates of the global economic crisis, work on civil construction projects worth $698 billion continues to move ahead.

But the downturn is taking an increasing toll with more than half of all civil construction projects across real estate, infrastructure, leisure and entertainment now on hold, according to a detailed report published today, (8th February 2009).

“The UAE may no longer be the land of milk and honey but it is still in a far better position than most," said Emil Rademeyer, director of Proleads Global, the Dubai-based publishers of the first in-depth investigation of its type. "To put it into perspective, the $698 billion of continuing work we are reporting is almost equivalent to the latest stimulus package proposed for the United States."

 Source www.arabianbusiness.com

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