Over Dhs.1.2 trillion are to be spent on various development projects in the emirate of Abu Dhabi in the coming years, predicted a study prepared by the Information Centre of the Abu Dhabi Chamber of Commerce and Industry.
The constructional sector will take the major share of this investment absorbing over Dhs.850b (USD 230b), a far different figure than that forecast earlier by the Construction Planning Council which put it somewhere between dhs.500b to 600b.
The Chamber's study reiterated that the constructional sector will continue to position itself in the forefront of all the economic activities in the emirate in the years to come. Both the growth rate and the volume of investment in this vital sector will record a steady surge. A number of vital projects and most modern townships planned will attract the investors and tourists from around the world to the safe haven of the emirate; the study foretold.
The study also pointed out that the growth rate witnessed by the construction sector is not a matter of chance, but an outcome of the well studied plans and policies adopted in the emirate. The construction sector has ensured an unfailing return of 12pc reaching up to 20pc in some cases.
The study also predicted that the total production in this sector will reach the worth of Dhs.46b and the number of workers will exceed 237,000 by the end of the current year.
It also warned the government to avert any possible recession in this vital sector by way of enacting controls on the price of building materials which has recorded a hike of 100pc in certain cases. Source
The constructional sector will take the major share of this investment absorbing over Dhs.850b (USD 230b), a far different figure than that forecast earlier by the Construction Planning Council which put it somewhere between dhs.500b to 600b.
The Chamber's study reiterated that the constructional sector will continue to position itself in the forefront of all the economic activities in the emirate in the years to come. Both the growth rate and the volume of investment in this vital sector will record a steady surge. A number of vital projects and most modern townships planned will attract the investors and tourists from around the world to the safe haven of the emirate; the study foretold.
The study also pointed out that the growth rate witnessed by the construction sector is not a matter of chance, but an outcome of the well studied plans and policies adopted in the emirate. The construction sector has ensured an unfailing return of 12pc reaching up to 20pc in some cases.
The study also predicted that the total production in this sector will reach the worth of Dhs.46b and the number of workers will exceed 237,000 by the end of the current year.
It also warned the government to avert any possible recession in this vital sector by way of enacting controls on the price of building materials which has recorded a hike of 100pc in certain cases. Source
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