Construction sector growth in Abu Dhabi exceeds 39pc

ABU DHABI —The economic diversification of Abu Dhabi's economy has been stunning as a boom in the construction sector and in other sectors of the non-oil industrial sector during 2004-06 and construction sector is projected to witness a tremendous growth of 39 per cent to Dh37.8 billion in 2006, compared with Dh32 billion in 2005.


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Published: Mon 18 Sep 2006, 9:42 AM

Last updated: Sat 4 Apr 2015, 4:22 PM

A report published by the Information Centre of the Abu Dhabi Chamber of Commerce and Industry said that Abu Dhabi's growth has been excellent. "The corresponding figures for the entire UAE were Dh92.2 billion in 2006 and Dh84.8 billion in 2005, representing a projected increase of 20 per cent this year," the report said.

Combined growth in the sector during 2004-2006 was expected to reach 45 per cent, the report pointed out. According to the report, the non-oil industrial sector of Abu Dhabi is projected to increase at the rate of 11 per cent in 2006 at Dh40 billion. It said that 2005 witnessed 15 per cent increase at Dh34.9 billion in 2005. This tremendous growth both in the construction and other non-oil sectors took place because of the new industrial, housing and real estate projects undertaken in the Emirate, the report said. The fixed capital formation in the UAE is projected increase to Dh5.9 billion in 2006 from Dh5 billion in the previous year. Abu Dhabi's share in this Dh2.3 billion in 2006 compared with Dh1.8 billion in 2005.

The increase in the activity in the construction and other sectors generated employment for 519,000 workers in 2005, and is expected to go up to 542,000 in 2006 in the entire UAE.

Abu Dhabi's share in this was expected to 221,000 in 2006 compared with 211,000 in 2005. Emoluments to the labour force were expected to reach Dh16.4 billion 2006, as against Dh14 billion in 2005. In Abu Dhabi, the wages earned by the work force were expected to be Dh7.1 billion 2006, compared with Dh6.9 billion in 2005, the report added.

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