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18-05-14

USD12b construction projects restarted in UAE

(MENAFN) The UAE granted some stalled construction projects worth USD12 billion the permission to restart their works, resulted from the growing optimism in the region's construction sector, according to Arabian Business. A number of projects, worth USD83.5 billion, are expected to be delivered this year in the GCC compared to USD70 billion in 2013. Regional construction industry is now valued at USD1.3 trillion, with USD938 billion of projects in the pipeline and the remainder either already tendered, in design phases or under study.