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Abu Dhabi's construction projects valued at Dh23.12 billion in 2006
ABU DHABI — The value of new construction projects to be tendered to contractors in Abu Dhabi is expected to register an increase of 173 per cent from Dh8.6 billion in 2005, to Dh23.12 billion this year and this trend will continue with Dh24.59 billion worth of new construction projects in 2007, said organisers of Construct Abu Dhabi and Arabian Properties 2006 to be held from April 2-5, 2006.
"The total value of all construction projects announced to date in the UAE is Dh624 billion," said Ahmad Humaid Al Mazrouie, Managing Director of Adnec, who is organising the event. He said that in 2005, the UAE dominated the Gulf construction sector with Dh130.6 billion worth of projects under construction accounting for 63.7 per cent of the total value of projects under construction in the GCC states.
Saudi Arabia occupies the second slot with Dh28.9 billion, with Qatar (Dh16.88 billion) in third place followed by Kuwait (Dh12. 8 billion), Bahrain (Dh7.34 billion) and Oman (Dh5.1 billion).
About the event, he said that 130 exhibitors representing 350 companies from 18 countries are participating in full force, while top industry experts from around the world are assembling here to discuss issues related to the growing real estate sector at the conference which is an integral part of the event.
"Construct Abu Dhabi in only its third edition, has witnessed remarkable growth in line with the rapid development of commercial, residential, tourist, road and airport infrastructure projects in Abu Dhabi as well as elsewhere in the region," said Ahmad Humaid Al Mazrouie, Managing Director of Abu Dhabi National
Exhibitions Company (Adnec), which is organising the event at Abu Dhabi International Exhibition and Conference Centre. Al Mazrouie said that the Construct Abu Dhabi is a prime opportunity for the industry to harness the potential in the rapidly expanding construction market in the UAE and beyond.
Adnec chief said the Arabian Properties Forum will take place on the April 2-3, 2006 in parallel with exhibition to be addressed by property experts including Mounir Haider, CEO, Sorouh Real Estate, Tarek Zakaria, Regional Manager MEA Region, ABB Industries, Alaa Hilal, CEO, Arabian Group, and Walid Khoury, Business and Projects Developer, General Electric, among others. The featured projects will include those from Abu Dhabi, Dubai, Sharjah and Ras Al Khaimah in the UAE as well as projects from Qatar, Egypt, Lebanon, Saudi Arabia, Kuwait, France, Spain, Australia, the UK, the US, Morocco, Cyprus, the Caribbean, Australia and HongKong.
Al Mazrouie also stated that the conduct of Construct Abu Dhabi and Arabian Properties 2006 in parallel, have made the two events a powerful sales, networking and knowledge-gathering platform.
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