Value of Construction projects in Dubai hits $313.6 billion

By February 27, 2017News

The combined value of 4,000 construction projects in Dubai has crossed US$313.6 billion – higher than the gross domestic product of most countries in the world – when compared separately.

These include projects that are in the concept, design, tender, under construction and on-hold phases. The projects in Dubai represent 39 per cent of the number of active projects in the UAE and 42 per cent of the total estimated value of all active projects in the UAE, according to a latest report by BNC Networks, a UAE-based online project tracker.

According to BNC’s Dubai Overview Report published in January 2017, the urban construction sector has more than 3,200 active projects amounting to a combined estimated value of over $245 billion. This is followed by the transport sector with 187 projects valued at $32.4 billion, the utilities industry with 203 projects valued at $24.3 billion, 377 industrial projects valued at $5.8 billion, and 12 projects in the oil and gas sector totalling $4.6 billion.
Some of Dubai’s current multi-billion dollar projects include Dubai Metro Red Line Extension which is a part of the Expo 2020 initiative, Container Terminal 4 of the Jebel Ali Port Expansion project and the Royal Atlantis Resort and Residences located in Palm Jumeirah.

December, 2016 saw 37 active projects worth an estimated $2.2 billion moving to construction in Dubai. As of the end of 2016, the total number of projects under construction was 2,508 with an estimated worth of around $92 billion.