Eleven billion dollars worth of tourism and real estate projects offered in the “Big 5 Exhibition”
November 25, 2016Participants in the Big 5 Exhibition in 2016 confirmed that the construction market in the Gulf region is growing at a high rate, with an expected growth to increase over the coming period as hundreds of billions of new real estate projects are being planned.
“The exhibition revealed giant real estate projects being prepared for implementation in the Gulf countries, especially in Doha, Abu Dhabi and Dubai, in the tourism, leisure and the health sector,” said the economist Ahmed AL SHAREEF”.
He pointed out that the studies presented on the sidelines of the exhibition reported that the Gulf countries implement tourism and real estate projects for more than eleven billion dollars worth, a large number of them located in Dubai.
Mr. Moutaz AL KHAYYAT, Chairman of the Urbacon Trading & Contracting Company participating in the exhibition that “The Big 5 has affirmed the stability of the Gulf’s construction market and its promising future especially in light of the huge amount of construction projects that the Gulf countries are going to implement”.
Mr. Moutaz AL KHAYYAT, whose company is executing the Qatar Mall project, said that hotels, shopping malls, football stadiums and tourist resorts, as well as mega-towers constitute an important economic resource in the Gulf region, which calls for doubling the efforts to increase these projects, because they all lead to more stable and stronger economies. (D.P.A.)
This article was originally published on the following website :
http://www.alkhaleej.ae/economics/page/7bd8edc3-84e4-4c17-8793-db685f7f2c8c
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