Research by Proleads shows that active construction projects are worth 拢392bn, with the strongest sectors being commercial and civil

Sixty nine per cent of all construction projects in the United Arab Emirates are active and that the construction market has 1,845 projects ongoing worth $657bn (拢392bn).

Research by Dubai-based Proleads shows that activity is greatest in the commercial and civil sectors where there are 829 projects valued at $412bn (拢246bn).

The residential sector has a combined value of $312bn (拢186bn). The rate projects are being cancelled has accelerated over the year although the largest proportion of projects are still in progress.

Projects classified within the leisure and entertainment sector amount to over $233bn (拢139bn) spread across 445 projects, while education and healthcare has almost 700 projects worth $57bn (拢34bn).

Emil Rademeyer, director of Proleads, said: 鈥淥ver two thirds of projects are still active, new projects starting have slowed and projects completing are accelerating and cash flow is declining.

鈥淪o although the overall situation looks stable, unless investment for new projects is found the size of the real estate industry will shrink and its overall shelf-life will be reduced.鈥�

Topics