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12-04-14

UAE awards projects worth USD44b in 2013

(MENAFN) Projects awarded in the UAE last year are estimated at USD44 billion, Khaleej Times reported. Meed Projects said that over 60 percent of the awards are in the construction (real estate) sector. The director of Meed Projects said that UAE ranked second after Saudi Arabia which awarded projects worth USD66 billion He added: "Not only is this a 37 per cent increase on the 2012 awards, but over USD10 billion worth of projects have resumed construction activity during 2013."