eJarn
Username/ID
Plear enter userid
Password      *Forgot Password?
Please enter password
UAE project awards rise 42.6% in Q1
2017/05/02
May 01, 2017
The value of UAE projects awarded in the first quarter of 2017 rose by a solid 42.6%, compared with the same period last year, with both Dubai and Abu Dhabi seeing significant increases.
 
The value of projects awarded was above the two-year trend level and up a moderate 2.1% y-o-y over the quarter. Construction projects continued to dominate the UAE awards, up 25.6% y-o-y and there was also a yearly increase in oil and power projects in the first three months of the year, led by Abu Dhabi.
 
In the case of Dubai, projects linked to Expo 2020, the real estate and retail sectors continued to dominate awards so far this year. “The outlook for UAE project awards for the remainder of 2017 looks robust, given the number of projects close to being awarded. Notably, $3 billion worth of projects have already been awarded in the second quarter. A strengthening in investment activity is largely behind our stronger real non-oil GDP growth outlook for 2017,” said Monica Malik, Chief Economist of Abu Dhabi Commercial Bank.
To view the complete content, please log in.
Username/ID
Plear enter userid
Password      *Forgot Password?
Plear enter password