More than 500 new projects launched in Dubai in 2013

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By Andy Sambidge  www.arabianbusiness.com

More than 500 new projects were launched in Dubai during 2013, the highest number for five years, according to new data.

The UAE projects market exceeded expectations last year, hitting $34 billion worth of major contract awards, said regional project tracker MEED Projects.

While some way off the levels seen between 2006 and 2010, when between $42 billion and $62 billion worth of contracts were awarded annually, forecasts suggest that the UAE projects market could return to levels above $40 billion over the next two or three years.

The resurgence of positive sentiment returned to the UAE economy during 2013, culminating in the award of Expo 2020 to Dubai in November. More info