By MATTHEW SHOWLER and PARNIKA CHATURVEDI
The UAE is one of the fastest-growing economies, where the construction industry is the third-largest sector after oil and trade. More than 6,000 construction companies operate in the country, with most construction activities taking place in the emirates of Abu Dhabi and Dubai.
The emergence of the industry in the UAE dates back to the 1950s in Dubai when Sheikh Saaed bin Maktoum, together with his son Rashid, decided to transform the emirate into a ‘permanent haven for coastal shipping’ and launched the Dubai Creek improvement project. The construction industry’s growth rate is expected to remain positive, as a result of increased government expenditure on developing infrastructure and industrial construction in the country. [Read more…]