Manama, The construction industry in Abu Dhabi witnessed fresh contracts awarded valued at $35.5 billion, 66 per cent of the value of all contracts awarded in the UAE for 2010, said a report.
The expected value of construction contracts to be awarded in 2011 will reach $39.8 billion, an increase of 12 per cent from 2010, said a study by Ventures Middle East.
The total value of all construction projects in Abu Dhabi is currently calculated at $562.8 billion.
The latest figures come as the UAE capital is set to host the second edition of CityBuild Abu Dhabi, taking place from April 17 to 20 at Abu Dhabi National Exhibition Centre.
By sector, buildings contributes $304.4 billion to the total value of construction projects in Abu Dhabi, energy adds $129 billion and projects in infrastructure account for $129.3 billion.
‘Despite the global recession, Abu Dhabi has continued along a sustained path of development in its infrastructure and economic diversification,’ said CityBuild organiser and Cityscape group director Chris Speller.
‘This has resulted in increased investment in the construction industry, and as we are witnessing, a positive growth in new project contracts being signed. CityBuild Abu Dhabi is the perfect platform for construction industry professionals to meet future contacts and grow their businesses.’
CityBuild is the ultimate showcase for products as well as the latest materials and services used in the construction of real estate and infrastructure projects, a statement said.