Abu Dhabi’s project spending could balloon to over $100 billion in the next seven years, said the organisers of a major investment summit that opened in the UAE capital yesterday (December 9).
According to business analysis firm Meed, construction projects remain the most active with $30 billion worth of projects to be awarded in the next seven years, followed by the oil & gas sector with a project pipeline valued at $25 billion.
Transport and chemical-related projects will also see a surge in investments with a total of $20 billion contracts to be awarded during the same period. The industrial as well as power & water sectors will likewise be busy with contracts valued at $6 billion and $5 billion to be awarded until 2020. More info