Gulf Glass 2011 catches the UAE's optimistic mood

The UAE construction industry is expected to witness a compounded annual growth rate of around 20 percent from 2010 to 2013, according to the RNCOS Construction Industry Outlook report, cited in a Jan. 26 Gulf Glass 2011 release. Gulf Glass 2011 will take place March 7-9 at the Abu Dhabi National Exhibition Centre, UAE.

According to the research report, “UAE Construction Industry Outlook to 2012”, the UAEhas a booming real estate sector that expanded by around 4.3 percentin 2009, despite a downturn in activity following the 2008 global financial distress. A total of 806 properties currently under construction are expected to be delivered soon.

Approximately 1,300 projects worth more than $418 billion are currently under construction across the UAE. Another 303 projects worth $143 billion are in the design, planning or bidding stages. The UAE is still the principle GCC construction market by size, with $714.8 billion worth of projects on its books, according to the Dubai Chamber of Commerce & Industry. Over the past two years, Abu Dhabi has been a key contributor to that overall figure. Policymakers in the emirate have given the economy a shot in the arm by rolling out large-scale infrastructure projects, which have supported the construction industry, as well as the wider economy, according to the release.

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