Dubai – Mubasher: The value of construction contracts signed in the UAE has reached AED 32.3 billion ($8.8 billion) in the first two months of 2018, according to a survey conducted by MEED magazine.

The construction deals closed in February registered $5.1 billion, the biggest of which was a $3.1 contract between the Abu Dhabi National Oil Company (ADNOC) and a joint-venture comprises South Korea’s Samsung Engineering and Netherlands’s CB&I to upgrade its Ruwais oil refinery.

Iraq led the region in terms of the value of the concluded construction deals, with $6.7 billion worth of contracts during the second month of this year, MEED's data showed.