(MENAFN) The UAE government said that the value of awarded infrastructure projects contracts reached USD15.18 billion in 2014, which is almost five times more than the value of contracts given in 2013, as a result to an increase in infrastructure activities in the country, Gulf Times reported.
A large amount of these projects targeted the large-scale railway projects, which are currently being done, such as the Etihad Rail, which will cost USD11 billion as well as the Abu Dhabi's metro project, with its expected cost of USD8 billion.
Due to the UAE's population continuous increase, with levels of population growth rate reaching approximately 7.60 percent per year, the country is also planning a number of other new property developments, especially with expectations that the population will hit 9.9 million by the end of 2014 and 18.83 million by 2023.
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