Dh44bn contracts in UAE residential sector

Civil sector contract awarded in the UAE during the first half of 2014 registered a six-year high.

Contracts worth a total of $15 billion (Dh55.095bn) were awarded for major projects ? those valued at over $30m (Dh110m) ? in the UAE in the civil construction (buildings and transport) sectors, according to half-year data produced by Meed Projects.

Over 50 contracts, worth a total of more than $5.4bn (Dh20bn), were for newly announced or recovered residential projects and a further $3.8bn (Dh14bn) was for mixed-use projects, all with strong residential elements.