Dubai – Mubasher: The total value of contract awards in the urban construction sector in GCC countries is expected to increase by 29% to $65.6 billion, with a 1% increase in 2019 to $66 billion, a Business News for Construction (BNC) forecast report estimated on Wednesday.

There are 801 construction projects offering tenders in the sector at a total value of AED 117.44 billion ($32 billion), the report added.

BNC revealed that 292 contracts were awarded at a total value of AED 34.87 billion ($9.5 billion) in the second quarter of 2017, while the total value of construction projects in urban areas stood at AED 186.6 billion ($51 billion) in 2017.

The construction contracts awarded in Q2-17 included Deira Mall in Dubai, Al Zahia City Centre Mall in Sharjah, Yas Acres (first stage) in Abu Dhabi, and Danaat Al Lawzi in Bahrain.