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Real Estate sector to rise the creation of jobs to 60%

UAE - August 30, 2015
Real Estate sector

A report issued by the “UNITAS” property consultants in collaboration with “re-done”, specialized in providing real estate data for emerging markets, announced that the contribution of the real estate sector in Dubai in the creation of jobs will rise to 60% as the sector is witnessing a steady growth which contributed to a quarter of the GDP of the emirate in addition to stimulating the construction sector of the residential and entertainment and infrastructure projects.

The report also stated that the contribution of the private sector will help reduce delays in some mega-projects in order not to stumble.

Emirate of Dubai has announced that it is now working on the construction of large-scale projects of total value of 300 billion dirhams and all within the Emirate plan to reach Expo 2020 Dubai with advanced and sophisticated infrastructure that exceeds international standards.

Among those projects, “Mohammed Bin Rashid City” project, which costs 21 billion dirhams, and “Meydan City” at a total cost estimated at 26 billion dirhams, with regard to the entertainment sector there is “Mall of the World” project at an estimated cost of 25 billion dirhams and “Dubai Parks & Resorts ” project with $ 10.5 billion dirhams, while for infrastructure projects there is “Dubai World Central” which costs 120 billion dirhams and Business Bay at an estimated cost of about two billion dirhams and “Nuclear energy programs”at a cost of 2.5 billion dirhams.

 

Source: alkhaleej.ae

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