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Construction sector contributed 14.5% to Dubai's GDP in 2018

Government spending on infrastructure projects grew to 32% during the year, data by Dubai Statistics Centre shows

Dubai's construction sector contributed to GDP growth in 2018 [representational image].
Pixabay
Dubai's construction sector contributed to GDP growth in 2018 [representational image].

Dubai’s GDP recorded a growth rate of 1.94% in 2018 to reach a value of $108.4bn (AED398.1bn), with the construction, infrastructure, and real estate sectors all playing a significant role in this surge over the last 12 months, according to data published by Dubai Statistics Centre (DSC).

Construction and infrastructure projects contributed 14.5% more to the economy in 2018 than in the 12 months prior, DSC's report showed. Dubai’s construction sector grew by 4.5% in 2018, expanding its growth rate by 1% over 2017. 

According to the report, the construction sector’s overall contribution to Dubai’s GDP was recorded at 6.4%.

Dubai's construction sector contributed to the emirate's GDP in 2018 [© Dubai Media Office].

Arif Al Muhairi, executive director of DSC, added that government spending on infrastructure projects saw an upward trend in Dubai last year, increasing by 32% in 2018.

The investment in infrastructure projects "proves that the government is moving forward in developing and enhancing Dubai’s infrastructure, which plays a strategic role in supporting the economic development and providing a supporting and stimulating environment for business sector to flourish”, Dubai Media Office reported, citing Al Muhairi. 

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Construction Week - Issue 754
Nov 23, 2019