New Construction market report from Business Monitor International: "United Arab Emirates Infrastructure Report Q4 2013"

Boston, MA -- (SBWire) -- 11/22/2013 --We maintain our forecast for 2013 construction industry real growth of 4.8%. This view is premised upon increasingly buoyant activity we are witnessing in Dubai in particular; and the expectation that Abu Dhabi will follow suit. This is despite a large revision in historical data by the UAE authorities last quarter. Significant public spending, a growing tourism sector, increased direct foreign investment and an improved business environment are all driving activity in the construction sector. However, we are now seeing a moderated scale of future projects, in line with a more realistic demand picture. We believe this outlook will be supported by ongoing or re-started projects, rather than a stream of new construction contracts.

Factors driving construction industry growth:

- We continue to see increasing opportunities in the hospitality and tourism sectors. Tourism and tourismrelated projects provided a welcome source of value for the construction industry and wider economy in 2011. We expect this to continue throughout 2013 and beyond as the UAE, most notably Dubai and Abu Dhabi, positions itself as a global business and tourism. Major projects, such as the Louvre Abu Dhabi, Guggenheim museum, the Bluewaters Island project in Dubai and the Meydan Sobha City development in Dubai, reflect renewed confidence in large-scale projects.
- Large scale mass-transit projects are underway across the UAE, with the first sections of the Abu Dhabi metro and light-rail network awaiting to be awarded and the extension of Dubai's metro expected to enter construction in 2014. The second phase of the US$11bn Etihad Railway Network - also part of the US $100bn GCC Railway Network - has entered the tendering phase. Construction is scheduled to start early 2013 and will provide a significant boost to the construction industry. The first phase is expected by the end of 2013
- Though the nuclear power project in Abu Dhabi has been plagued by project delays and cost inflation, the second reactor is now under construction and plans to start on the last two are under way.

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