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 fo 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
 Feb 11 2016 - Senior Iranian military official: US is subordinate to Iran in Middle EastThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) The commander of the Basij paramilitary force of the Islamic Republic of Iran Mohammad Reza Naqdi vowed that Tehran “will not make any compromises with ...

 Feb 11 2016 - Russia ready to discuss Syria ceasefire at international talksThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Russia said Feb. 11 it was ready to discuss a ceasefire in Syria as foreign ministers gathered in Munich in a bid to kick-start peace talks derailed by the ...

 Feb 11 2016 - Austria tells Balkans to curb refugee flowThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Croatian Interior Minister Vlaho Orepic said trains will begin transporting refugees directly from the Macedonia-Greece border to Austria without stopping in ...

 Feb 11 2016 - UAE- Google software can qualify as 'driver'Khaleej Times
(MENAFN - Khaleej Times) US vehicle safety regulators have said the artificial intelligence system piloting a self-driving Google car could be considered the driver ...

 Feb 11 2016 - UAE- Technology powerhouses converge on Middle East's premier education exhibitionEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 11th February 2016 (WAM) -- Leading global technology stalwarts are converging on GESS Dubai to showcase the very latest advances in the education ...

 Feb 11 2016 - Abu Dhabi petrochemical producers promote Waste Free EnvironmentEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 11th February 2016 (WAM) -- Committed to supporting UAE National Environment Day on the 4th of February over 3000 people including students from ...

 Feb 11 2016 - RTA briefs delegation of Dubai Traffic Prosecution about customer service strategiesEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 11th February 2016 (WAM) -- The Roads and Transport Authority RTA has recently received a delegation from the Dubai Traffic Prosecution and briefed ...

 Feb 11 2016 - UAE- Emirates Post Group offers onsite interviews and CV preparation workshops for job seekersEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 11th February 2016 (WAM) -- Emirates Post Group is highlighting employment opportunities available for Emirati job-seekers in the group and its ...

 Feb 11 2016 - UAE Ambassador meets with Jordanian OfficialEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) AMMAN 11th February 2016 (WAM) -- Bilal Rabie Bilal Al Bodour UAE Ambassador to Jordan yesterday met with the UAE-Jordan Parliamentary Committee chaired by ...

 Feb 11 2016 - UAE- Lubna Al Qasimi emphasises unified international efforts to secure sustainable and creative financial solutionsEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 11th February 2016 (WAM) -- Sheikha Lubna bint Khalid Al Qasimi Minister of State for Tolerance Head of the UAE Committee on Foreign Humanitarian ...

more...


 






Google

 
 

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