Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Dubai to become ?crane capital?  Join our daily free Newsletter

MENAFN - Khaleej Times - 17/05/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) Dubai was once home to almost 25 per cent of the world?s cranes during the height of the property boom and now is set for a revival era for the construction industry.

dubai was once home to almost 25 per cent of the world’s cranes during the height of the property boom and now is set for a revival era for the construction industry. — afp

international property agency chesterton has stated that the skyline of dubai is set to change with the construction industry expected to gather further momentum in 2014.

construction cranes have dotted the dubai skyline and are seen to herald economic growth. with a major build-up of momentum in real estate activity cranes have made their presence felt in the construction industry.

dubai was once home to almost 25 per cent of the world’s cranes during the height of the property boom and now is set for a revival era for the construction industry.

simon gray managing director of chesterton mena said: “the requirement for equipments and machinery in the construction industry is anticipated to rise further in the uae especially in dubai owing to the real estate boom. although the consolidation of activities related to the construction industry in the uae is in dubai and abu dhabi the other emirates are not far behind.”

“dubai has seen an increase in the real estate investment which is because of its predominant presence being in the centre of construction activities. the trend suggests that the indications back up the fact that there will be no respite in the increase in construction activities. demand for machinery like cranes and other related equipment is on a steep rise as a result of the construction activities in the region peaking once again post the expo 2020 win phase” gray explained.

“with the construction activities to take off dubai will once again be billed as the ‘crane capital’ of the world with several mega projects in the pipeline. we expect 2014 to be another positive year for real estate sector in the uae dubai in particular” gray added.

“we believe that the residential property market will also grow at a faster pace over the next five years as more people choose to make dubai their home. the city’s high-quality infrastructure and geographical location positions dubai as one of the best cities in the world to live and do business.”

he noted: “medium-term growth forecasts for the economy have improved business confidence as more companies plan expansion activities to take advantage of economic opportunities arising from infrastructure spending over the next five years. we expect the residential market to stabilise after a rapid growth over the last year. rentals however could still see significant growth.”

— business?khaleejtimes.com


 






  MENA News Headlines
 Jul 30 2014 - Safe haven status boosts investment scope in UAEspanKhaleej Times
(MENAFN - Khaleej Times) E political situation in the region has made Dubai into a magnet for families from across the region to set up home and establish regional or global offices for their ...

 Jul 30 2014 - Tech Mahindra eyes expansion in Saudi ArabiaspanKhaleej Times
(MENAFN - Khaleej Times) Ch Mahindra a specialist provider of connected solutions has announced that it has signed a joint venture agreement with Midad Holding which is a subsidiary of Al Fozan a ...

 Jul 30 2014 - Middle East earns 1 of global market research revenuesspanKhaleej Times
(MENAFN - Khaleej Times) E entire Middle East region earned only a meager one per cent of the global market research revenues which indicates the potential for market research that is prevalent in ...

 Jul 30 2014 - Dewa to show smart initiatives at Gitex 2014spanKhaleej Times
(MENAFN - Khaleej Times) Bai Electricity and Water Authority or Dewa has announced its participation in Gitex 2014 to be held from October 12-16 at the Dubai World Trade Centre.Dewa will showcase its ...

 Jul 30 2014 - Sico first-half net profit jumps 166spanKhaleej Times
(MENAFN - Khaleej Times) Curities & Investment Company or SICO licensed by the Central Bank of Bahrain as a conventional wholesale bank announced its financial results for the second quarter of 2014 ...

 Jul 30 2014 - Taqa Arabia eyes Egypt expansionspanKhaleej Times
(MENAFN - Khaleej Times) Laa Holdings announced that its energy sector subsidiary Taqa Arabia aims to expand its network of fuel stations in Egypt through Taqa oil marketing company.The company ...

 Jul 30 2014 - Real estate to pick up from next week: Industry expertspanKhaleej Times
(MENAFN - Khaleej Times) Bai Land Department transactions exceeded Dh113b for H1 The real estate market in Dubai is expected to pick-up again from next week after a slowdown during the last couple of ...

 Jul 30 2014 - Memon to hand over five projects in 2014spanKhaleej Times
(MENAFN - Khaleej Times) Mpany working on Dh1.Memon Investments has planned to hand over five projects worth more than Dh600 million in the next five months and is also planning to launch five new ...

 Jul 30 2014 - ADFD funding in underdeveloped countries hit Dh61bspanKhaleej Times
(MENAFN - Khaleej Times) E development finance institution articulates the UAEs continued commitment to support the development process of emerging countries.An exterior view of power plant in ...

 Jul 30 2014 - UK and US preferred by Arab travellers: MarriottspanKhaleej Times
(MENAFN - Khaleej Times) E US takes the lead when it comes to bookings with 20 per cent of all reservations closely followed by the UK which accounts for 16 per cent.Marriott International has ...

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

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

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
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

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


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help