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15.01.2015
The UAE is the second most expensive market to engage in construction activity among Gulf states, with Qatar being the costliest, according to a new survey by the specialist consultancy EC Harris.
The UAE is the second most expensive market to engage in construction activity among Gulf states, with Qatar being the costliest, according to a new survey by the specialist consultancy EC Harris. Gulf News reported that the stream of new projects set to emerge from the pipeline this year would have been enough to set off an inflationary spiral but changes in oil prices has altered the picture. “Abu Dhabi is best placed to be able to continue to fund budget commitments … but with oil trading hovering around $50 a barrel earlier this month, it is possible that current and capital spending priorities may come under review,” said Christopher Seymour, partner and head of UAE Property at EC Harris. “Investment on social infrastructure, (on) economic diversification and event-driven construction are three key trends positively influencing construction spend in the region.”
The UAE is the second most expensive market to engage in construction activity among Gulf states, with Qatar being the costliest, according to a new survey by the specialist consultancy EC Harris. Gulf News reported that the stream of new projects set to emerge from the pipeline this year would have been enough to set off an inflationary spiral but changes in oil prices has altered the picture. “Abu Dhabi is best placed to be able to continue to fund budget commitments … but with oil trading hovering around $50 a barrel earlier this month, it is possible that current and capital spending priorities may come under review,” said Christopher Seymour, partner and head of UAE Property at EC Harris. “Investment on social infrastructure, (on) economic diversification and event-driven construction are three key trends positively influencing construction spend in the region.”
