Dubai construction sector sees growth in last 18 months

Construction companies experienced the fastest improvement in business conditions in the last 18 months, the Emirates NBD Dubai Economy Tracker Index revealed

Dubai's construction sector witnessed “robust expansion” last month.
Dubai's construction sector witnessed “robust expansion” last month.

Construction companies experienced the fastest improvement in business conditions in the last 18 months, the Emirates NBD Dubai Economy Tracker Index revealed.

According to the bank, the construction sector witnessed “robust expansion” last month with sub-sector data indicating that construction companies experienced the fastest improvement in business conditions (56.2), according to Arabian Business.

The sector was followed by wholesale and retail (55.5) and travel and tourism (54.2), determined by the index scale.

A reading of below 50.0 indicates that the non-oil private sector economy is generally declining; above 50.0, that it is generally expanding. A reading of 50.0 signals no change.

Khatija Haque, head of MENA Research, Emirates NBD, said: “The construction sector survey is particularly encouraging with the sector index near the highest level in one-and-a-half years.”

The sector has helped drive business activity as the overall pace of activity growth slowed to the weakest in seven months.

“The decline in the Dubai economy tracker index in May is consistent with what we’ve seen in the regional country surveys. However, the data still points to a robust expansion in the non-oil private sector last month,” Haque added.

Most popular

Awards

Deadline approaches for CW Oman Awards 2020 in Muscat
You have until 20 January to submit your nominations for the ninth edition of the

Conferences

CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this
CW In Focus | Leaders in Construction Summit UAE 2019
A roundup of Construction Week's annual summit that was held in Dubai this September

Latest Issue

Construction Week - Issue 765
Jun 29, 2020