| 23 Nov 2008 |
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Nakheel tops list of UAE project owners with $98b portfolio
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Sunday, Nov 23, 2008
Gulf News
Dubai: NakheelNakheel
tops the list of big project owners in the UAE with $98 billion (Dh360.44 billion) worth of projects according dmg world media Dubai, the organisers of Big 5 Exhibition.
Dubai organisations top the Big 5 project owners list. NakheelNakheel's biggest projects include Palm Deira, the World, Dubai Waterfront and Nakheel Harbour and Tower development. Meeras' sole development is the Jumeirah Gardens project. Dubai Department of Civil AviationDubai Department of Civil Aviation has the Dubai World Central airport development and TatweerTatweer has multiple DubailandDubailand developments. Abu Dhabi's AldarAldar has the big Yas Island and Al Raha Beach developments.
A Belgian dredging company is the top principal contractor; US companies led by Hill InternationalHill International
dominate The Big 5 project managers while Abu Dhabi Commercial BankAbu Dhabi Commercial Bank is the leader in terms of project financiers.Though the analysis covers all industries, civil construction developments continue to dominate projects currently underway topped by Jumeirah Gardens ($95 billion), DubailandDubailand ($54 billion), Palm Deira ($40 billion), Yas Island ($38 billion), and White Bay Umm Al Quwain ($29 billion).
The rankings are based on analysis of active construction projects currently underway in the UAE across the oil and gas, petrochemical, civil construction and, power, water and industrial sectors and contained within the database of Proleads, the research partner of The Big 5.
The Big 5, the biggest trade fair for the construction industry in the Arabian Gulf, opens today at the Dubai International Exhibition Convention Centre. A total of 53 countries will be represented at The Big 5 and there will be more than 3,000 companies. More than 50,000 visitors are expected.
"It is important to say that the $800 billion of projects in this survey are all currently under construction," said Bernard Walsh, Managing Director of dmg world media Dubai.
"Despite caution over future projects, it emphasises yet again that the huge projects underway in the UAE are increasingly at levels in other parts of the world as the economic slowdown affects markets worldwide."
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