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Economy

Borouge Q2 net profit $193m

The H1 revenue stood at $2.72 billion.

ADNOC Drilling H1 revenue $2.37bn

The company posted a net profit of $692m.

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

UAE construction sector logs 135% growth in project announcements

Dubai Chamber of Digital Economy attracted 69 emerging technology companies to the emirate.
By TRENDS Desk
July 20, 2023 10:47 am
  • The surge in project awards is equally impressive, rising from $9.10 billion to $13.36 billion
  • The figures underscore the significant investments being made in the UAE's infrastructure development

Dubai, UAE – The UAE has witnessed 135 percent year-on-year (YoY) growth with AED 49.25 billion ($13.37 billion) project announcements in the second quarter compared to AED 21 billion ($5.71 billion) in the same quarter last year, according to the latest construction intelligence cited in BNC Projects Journal, 

The surge in project awards is equally impressive, rising from AED 33.46 billion ($9.10 billion) to AED 49.22 billion ($13.36 billion), representing a YoY growth of 47 percent. These figures underscore the significant investments being made in the UAE’s infrastructure development, cementing its position as a global leader in construction.

Dubai, in particular, is at the forefront of this resurgence, with plans to undertake numerous sustainability projects and initiatives

“We are witnessing an exciting growth trajectory in the UAE’s construction sector,” Avin Gidwani, CEO of BNC Network said.. These remarkable figures reflect the unwavering resilience and determination of the industry, positioning the UAE as a global leader in construction once again.”

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