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Gulf construction industry remained stable in 2011

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The construction pipeline in the Gulf region remained unchanged at $1.8trn (Dhs6.6trn) last year, despite economic challenges that have affected the real estate and construction sectors in recent past, Gulf News has reported. Saudi Arabia remains Mena's largest construction market at almost $660bn.

Key positives include a 27% increase in its projects pipeline to $265bn; a $25bn jump in its preliminary stage projects to $273bn and a 6% decline in delayed projects to $343bn. "The UAE remains Mena's second largest market at $592bn. However this is down 27% year-on-year. The UAE accounts for 56% of cancelled and delayed projects for the main Mena markets [$1.7trn]," Heidy Rahman, Citi research analyst, said.

 
 
 
 

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