Construction & Real Estate

The UAE overtook Saudi Arabia as the Gulf’s largest construction market in terms of contracts awarded in 2012. In 2013, the UAE construction market continued to post growth, led by Abu Dhabi’s capital investments in infrastructure, housing and health care facilities. The value of the UAE’s construction sector was forecast to grow by 4.5% in 2013, reaching $41bn, and is expected to continue to expand going forward, topping $50bn and 10% of GDP by 2016. The emirate’s current investments are intended to lay the foundation for the development of an increasingly diverse economy in the years ahead, and the municipality’s regulations should go a long way towards realising its ambition of making the capital a leading international city.