Nearly 500 transport projects worth $87 billion underway in the UAE
The total value of 481 active transport projects exceeded AED321.49 billion ($87.6bn) in the first half of 2017, according to BNC Network, a construction intelligence service in the Middle East and North Africa (MENA) region.
Of these, 364 projects with a combined value of $36.5bn are road projects while 39 projects with a value of $33.9bn are rail projects.
The transport sector consists of aviation, marine, rail and road while active projects refer to projects in concept, design, tender, under construction and on hold.
“With Expo 2020 nearing, the UAE government is fast-tracking all important road and rail projects to ensure smooth transportation of goods and traffic ahead of the mega global event,” Avin Gidwani, Chief Executive Officer of BNC Network, says.
“Completion of all the transport projects is crucial to the success of the Expo 2020 project, and will support the country’s bids for more such global events in future.”
Of these, 218 projects worth $20bn are under construction, 92 projects worth $29.7bn in the pipeline, and 110 projects worth $32.7bn are on hold.
As per the latest BNC Intelligence report, the transport sector constitutes 4 per cent of all active projects in the UAE and these projects account for 11 per cent of the total estimated value of projects across all sectors in the country.
Four transport projects with a combined estimated value of $274.6 million moved to construction from other stages during the month of June 2017.
“As we move forward, we expect more road and infrastructure projects to be brought under construction for them to be completed on time by mid-2020,” Gidwani says.
“Infrastructure and connectivity has always remained the unique selling points of Dubai and the UAE and the government will complete the pending projects in time.”