Nov 23 2008 |
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Nakheel tops list of UAE project owners with $98b portfolio
Sunday, Nov 23, 2008
Gulf News
Dubai: Nakheel 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. Nakheel '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 Aviation has the Dubai World Central airport development and Tatweer has multiple Dubailand developments. Abu Dhabi's Aldar has the big Yas Island and Al Raha Beach developments.
A Belgian dredging company is the top principal contractor; US companies led by Hill International dominate The Big 5 project managers while Abu Dhabi Commercial Bank is the leader in terms of project financiers.
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.
"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."
© Gulf News 2008. All rights reserved.
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