Construction industry booms in Dubai

Dubai flourishes with 3,700 ongoing projects worth $400 billion.

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As per the report of BNC’s(Business News for Construction) “Dubai Construction Market 2016″, Dubai has around 3,700 projects worth $400 billion. The majority of these projects are in advanced stages with an estimated value of over $100 billion. The Big 5, the biggest construction industry event in the Middle East, commissioned the report. Still, 21 percent of the projects are on hold, says the report. 77 percent of the ongoing projects include health care and hospitality buildings, commercial and residential units, leisure and recreation facilities, retail facilities and mixed-use urban developments, and religious buildings with a value of around $320 billion.

The report also says the total amount spent on infrastructure projects for Dubai Expo 2020 is around $18 billion. The Big 5 2016 event will take place at the Dubai World Trade Centre from 21 to 24 November, hosting over 3,000 exhibitors and attracting almost 75,000 visitors.