Friday, 25 October 2013

United Arab Emirates Infrastructure Report Q4 2013

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United Arab Emirates Infrastructure Report Q4 2013
Oct 23rd 2013, 00:00

Price: $ 1295  

BMI View: 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: ? ...

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