Construction sector gaining pace in Dubai, yet again

Despite the slow recovery of construction sector in Dubai, following the global financial crisis, with new developments almost coming to a standstill, now there are increased signs of the industry gaining pace once again, reports Oxford Business Group.

The International food corporation, Nestle, during end of June, announced plans to construct a factory in Dubai, with initial investment of $136mn. The facility will be built on a 175,000 sq meter plot at the Dubai World Central site, and will be used to manufacture food and coffee products.

Soon after, the Dubai-based developer Nakheel, announced the signing of a $7.5mn deal, towards construction of a new mall in the neighbourhood. The Jumeirah Park Community Centre, which spreads across 10,600 square metres, includes retail and food outlets. The construction contract has been awarded to Parkway International Contracting.

Although these projects do not match the scale of those during mid-2000s, it is a clear indication that construction works have begun to gather momentum, once again in Dubai.

via Construction sector gaining pace in Dubai, yet again.