200 UAE construction projects due for H1 completion

More than 200 construction projects are due to be completed in the UAE during the first half of 2009, more than for the whole of the previous year, new research claims.

Research by industry analysts Proleads has revealed that only 2.4 percent of 1,289 UAE construction projects worth $1.28 trillion which were under way at the start of the year have been cancelled.

About 135 projects were on schedule to be completed in the first quarter of 2009, with another 70 to be finished in the second quarter, compared with a total of 184 overall last year.

The figures were highlighted on Monday as development plans were released for the Big 5, one of the world's largest trade shows for the construction industry and associated suppliers, which takes place in Dubai in November.

Despite negative effects of the recession on the construction sector, companies like Al Nawi Group, UAE representatives of Finnish manufacturers Scanclimber, see a silver lining for the construction equipment business and the industry as a whole.

"The construction industry is witnessing a slowdown at the moment, but I believe that if the right measures are taken by the governments, things will start picking up again by the end of the year," said Aamer Hammoudi, general manager.

Hammoudi said the economic crisis has led to the company focusing its resources on serving its existing top five customers who generate 80 percent of sales in the Middle East.

Nick Webb, director of Streamline Marketing Group, organisers of the Big 5 PMV said: "With several construction projects still under way and a huge amount of development to be reinstated when the current climate eases, it is very clear that this region needs a plant, machinery and vehicles show."

Last year's Big 5 PMV grew in size by 39 percent on 2007 to cover 40,000 square metres of floor space, with 412 companies represented on exhibition stands.

While the UAE had a strong presence with 72 exhibitors, another 28 countries were represented including Italy, Germany, France, USA, Taiwan and China.

READERS' COMMENTS

MORE FROM ARABIANBUSINESS.COM