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Construction projects in Abu Dhabi now worth US$562.8 billion.
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| 27 Feb 2011 |
As the regional economy continues on the cautiously optimistic path to recovery, Abu Dhabi is shining as one of the brightest stars in the Middle East’s construction industry, with contracts awarded in the energy, infrastructure and buildings sectors increasing.
Recent figures gathered by Ventures Middle East show that, amid the economic slowdown in 2010, the construction industry in Abu Dhabi witnessed fresh contracts awarded valued at US$35.5 billion; 66 per cent of the value of all contracts awarded in the UAE for 2010.
The expected value of construction contracts to be awarded in 2011 will reach US$39.8 billion, an increase of 12 per cent from 2010. The total value of all construction projects in Abu Dhabi is currently calculated at US$562.8 billion.
The latest figures come as the UAE capital is set to host the second edition of CityBuild Abu Dhabi, taking place from 17-20 April 2011 at Abu Dhabi National Exhibition Centre.
By sector, buildings contributes US$304.4 billion to the total value of construction projects in Abu Dhabi, energy (oil and gas, petrochemicals and power & water projects) adds US$129 billion, and projects in infrastructure (roads, bridges, rail, sewerage, wastewater and marine projects) account for US$129.3 billion.
Chris Speller, Group Director of Cityscape and CityBuild Abu Dhabi said: “Despite the global recession, Abu Dhabi has continued along a sustained path of development in its infrastructure and economic diversification.
“This has resulted in increased investment in the construction industry, and as we are witnessing, a positive growth in new project contracts being signed. CityBuild Abu Dhabi is the perfect platform for construction industry professionals to meet future contacts and grow their businesses.”
Already three times larger than the inaugural event in 2010, CityBuild Abu Dhabi is the ultimate showcase for the ‘A to Z’ of products as well as the latest materials and services used in the construction of real estate and infrastructure projects.
With the population of Abu Dhabi expected to grow to between three and five million by 2030, the government has earmarked US$15 billion on expansion of infrastructure projects between 2009 and 2012, to meet demands of water, power and sewage facilities across the emirate.
Additionally, the government’s focus on developing its tourism sector, along with the Department of Transport’s US$68 billion budget toward developing its share of building urban infrastructure, means that the outlook for the Abu Dhabi construction industry appears to remain sustainable for many years to come.
By popular demand, CityBuild Abu Dhabi will once again be co-located with Cityscape Abu Dhabi and for the first time, Malaysia Services Exhibition. Cityscape and CityBuild Abu Dhabi, which together attract more than 30,000 visitors, are run under the patronage of His Highness Sheikh Mohammed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.
CityBuild Abu Dhabi is supported by its Foundation Partner, the Department of Municipal Affairs, Headline Sponsors BENA and Rajhi Steel, Gold Sponsor MAPEI, Official Supporters MATRADE and Malaysia Services Exhibition, Sustainable Knowledge Partner Masdar, Sustainable Partner Emirates Green Building Council and other key industry associations.
Running alongside CityBuild Abu Dhabi will be the CityBuild Construction Summit, Concrete Construction Day (in association with Grey Matters and NRMCA) and the CityBuild Abu Dhabi Construction Awards, which will recognise the notable achievements and standards of excellence in the Middle East construction industry.
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