Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

UAE?s $44 billion contract awards second-highest in GCC in 2013  Join our daily free Newsletter

MENAFN - Khaleej Times - 12/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) Comparing the first quarter of 2014 against the same quarter in 2013 the total value of contracts was just over 700m higher than the first quarter of 2013

A total of 44 billion worth of projects were awarded in the uae in 2013 with more than 60 per cent of the awards in the construction (real estate) sector meed projects announced at its first-quarter update briefing held in dubai.


“the uae was second only to saudi arabia’s 66 billion” said julian herbert director of meed projects. “not only is this a 37 per cent increase on the 2012 awards but over 10 billion worth of projects have resumed construction activity during 2013” herbert said.


The oil sector was the second most active with just over 21 per cent (9 billion) of awards followed by the transport sector with eight per cent (3.5 billion).


Some of the major contracts awarded during the first quarter of this year include the address residence fountain views at downtown dubai for approximately 1 billion; zakum oil lines replacements phase one for 885 million; tasameem real estate’s mixed-use development on al reem island for 705 million; iris mist at dubai maritime city for 500 million; and meydan heights south at the mohammed bin rashid city for 400 million to name a few.


Other major awards expected during the rest of 2014 include district one at mohammed bin rashid city meraas’ dubai theme park and ipic’s fujairah refinery phase 1. the total value of project awards for the uae in 2014 will be just shy of 50 billion which is 10 per cent higher than 2013.


Comparing the first quarter of 2014 against the same quarter in 2013 the total value of contracts was just over 700 million higher than the first quarter of 2013. in both periods the construction sector saw most of the awards with 64 per cent in 2013 compared to 68 per cent in 2014.


“based on much improved market sentiment and the level of contracts already awarded this year 2014 is set to be another bumper year for the construction sector” herbert told the audience.


— business?khaleejtimes.com

 


Khaleej Times




  MENA News Headlines
 Mar 26 2015 - Qaedalinked militants blow up Shiite hall in Syria: NGOArab Times
(MENAFN - Arab Times) BEIRUT June 16 2013 (AFP) -Extremist fighters claiming to be from an Al-Qaeda-linked group have blown up a Shiite religious building in the Syrian province of Deir Ezzor a ...

 Mar 26 2015 - Wave of car bombs kills 14 in south Iraq: officialsArab Times
(MENAFN - Arab Times) BAGHDAD June 16 2013 (AFP) -A wave of car bombs in several cities south of Baghdad on Sunday killed at least 14 people officials said as Iraq grapples with a surge in violence ...

 Mar 26 2015 - Head blow leaves Australian with French accent: reportArab Times
(MENAFN - Arab Times) SYDNEY June 17 2013 (AFP) -An Australian woman who now speaks with a French-sounding accent after a head injury eight years ago has revealed the experience has left her feeling ...

 Mar 26 2015 - UAE military jet crashes pilot killedArab Times
(MENAFN - Arab Times) DUBAI June 17 2013 (AFP) -An Emirati military jet crashed during a routine training mission in the Gulf country killing the pilot the UAE Armed Forces General Headquarters said ...

 Mar 26 2015 - Gulf General Investment net profit hits USD31.3m in 2014MENAFN
(MENAFN) The Gulf General Investment Co logged a net profit of around USD31.3 million for 2014, marking a slight increase from the USD29.94 million of 2013, Gulf News reported.According to the ...

 Mar 26 2015 - Gaza joy as Palestinian singer wins Arab Idol contestArab Times
(MENAFN - Arab Times) GAZA CITY Palestinian Territories June 23 2013 (AFP) -Jubilant Palestinians took to the streets in their thousands early Sunday after singer Mohammed Assaf won a pan-Arab ...

 Mar 26 2015 - Qatar's Ezdan logs USD373.14m net profit in 2014MENAFN
(MENAFN) Qatari Ezdan Holding Group recorded a net profit of USD373.14 million in 2014, against a USD293.57 million logged in the previous year, The Peninsula Qatar reported.Among the Group's most ...

 Mar 26 2015 - Saudi- Charcoal facial: Beauty world's best kept secretArab News
(MENAFN - Arab News) The beauty benefits of charcoal have been in the spotlight lately. Many skincare brands from affordable drugstore products to professional grade and more natural ones have been ...

 Mar 26 2015 - For Caroline Seikaly fashion is passionArab News
(MENAFN - Arab News) Caroline Seikaly is an American-Lebanese designer with French roots. She grew up in the United States and studied fashion design at the Rhode Island School of Design and while ...

 Mar 26 2015 - Saudi- Makkah floods: Woman baby killed 2 missingArab News
(MENAFN - Arab News) Civil Defense officials continued their search Wednesday for two men feared swept away by floods in Makkah on Tuesday night. The floodwaters had earlier claimed the lives of a ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help