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FINANCIAL NEWS
UAE’s building hike in value in Q3
03 Dec 2011
(MENAFN) Dubai Municipality said that during the third quarter, the value of Dubai constructed buildings hiked more than 220 percent reaching USD3.8 billion, up from USD1.19 billion recorded in the second quarter, reported Emirates 24/7.
The municipality added that the strong increase resulted from the surge in the value of industrial buildings that grew from USD32.9 million in the previous quarter to USD337 million, moreover, the value of public facilities completed during the third quarter rose to USD786 million from USD131.7 million.
It also said that the number of completed buildings during the period increased by more than 15 percent from the previous quarter’s 638 to 736; nevertheless, the number was 17 percent below 2010’s same quarter’s figures of 884 completed buildings.
It is worth noting that the value of completed buildings in 2010 reached more than USD8.38 billion, whereas the value of completed buildings during this year’s first three quarters was above USD6.5 billion.
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