Volume of construction projects in UAE crosses US$1.2 trillion

Abu Dhabi, Feb 27, 2012 (WAM) - A recent study showed that the volume of construction projects in the UAE is estimated at US$1.249 trillion, with buildings taking the largest share of USD 871.6B. The energy projects, which included oil and gas, petrochemicals and water and electricity took a share of US$190.9B. The volume of infrastructure development, including roads, bridges, railways, sanitation and ports, stood at US$187.2B, according to the study carried out by Ventures Middle East. The report published in the run-up to the Infrastructure Arabia Summit also predicted a 21.57pc rise in the value of contracts to be concluded in the current year in comparison to the preceding year. - Emirates News Agency, WAM