Dh5b-Dh10b bonanza awaits UAE construction sector

If plans come to fruition, a major turnaround for the economy could be in hand by the second half of 2017.

Dubai: Dubai’s developers have shown the intent … next up they need to get it into project mode with an estimated Dh7 billion to Dh10 billion worth of contracts expected to be awarded in the next two quarters. And that figure is excluding whatever work the $20 billion Jumeirah Central might come up with during this period.

If all of these tenders come to hit the market as expected, the local construction sector will have a wave sized boost to work on, industry sources say.

And the full benefits could filter through the whole of the local economy by the start of the second quarter of next year itself.