The combined value of the 11,755 active construction projects in the UAE has exceeded $818.2 billion (around Dh3 trillion) in November 2017, according to the latest UAE Construction Analytics report issued by BNC Network, a major project research and intelligence provider in the Middle East and North Africa (Mena) region.

This makes the UAE, which is the second largest Arab economy, the largest construction market in the Arab world and the Mena region, it stated.

Of the 11,755 active construction projects, 9,972 are urban construction projects with a combined value of $537 billion, said the BNC report.

The number of 9,972 urban construction projects represents nearly 85 per cent of the total active construction projects. However, in terms of value, the $536.29-billion worth of urban construction projects represent 65.66 per cent of the $818.2 billion-worth of construction projects in the UAE.

The value of the 533 utilities projects reached $93.6 billion, added the report.

“The UAE’s 11,755 construction projects constitutes 52 per cent of 22,680 active construction projects in the GCC and in terms of value, these projects account for 33.6 per cent of the total estimated value of the GCC construction projects, worth $2.43 trillion,” said Avin Gidwani, chief executive officer of BNC Network.

According to the report, the total value of 493 transport projects reached $87.4 billion, while the value of 92 oil and gas projects reached $68.2 billion and the total value of the 665 industrial projects reached $32 billion.

“In the third quarter of 2017, a total of 138 projects with a combined estimated value of $20.7 billion were announced in the UAE. Once completed, all these projects will change the face of the UAE’s urban infrastructure and overall economic landscape,” Gidwani said. “More than 1,000 active projects with a combined estimated value of $14.2 billion were completed during the third quarter of 2017.”

A total of 96 active projects with a combined estimated value of $5.3 billion moved to construction from other stages during October. The largest dollar-denominated active project awarded recently was Reem Mall worth $1 billion located at Najmat Abu Dhabi. Notable projects announced in the third quarter of 2017 include Aljada Residential City located near Sharjah’s University City worth $6.5 billion; Expansion of Borouge Petrochemicals Complex located in Abu Dhabi worth $2.5 billion and Emirates Towers Business Park located in Dubai worth $1.3 billion.