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UAE construction awards to reach $37bn in 2016

UAE construction awards to reach $37bn in 2016
he UAE recorded $10 billion worth of projects in Q1-16 (Photo Credit: Company Website)

Dubai-Mubasher: The value of construction projects to be awarded in the UAE is expected to reach $37 billion (AED 136 million) in 2016.

The UAE recorded $10 billion worth of awarded projects in Q1-16, speakers said at the MEED Construction Leadership Summit in Dubai on Wednesday.

The projects planned in the GCC states amount to $2 trillion as of May 2016, according to a statement.

The value of the un-awarded construction projects up to date reached $138 billion in the UAE, $120 billion in Saudi Arabia, $58 billion in Kuwait, $38 billion in Qatar, $20 billion in Oman and $17 billion in Bahrain.