Construction & Real Estate
From The Report: Abu Dhabi 2013
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After a period of rapid growth in 2008 and early 2009, the construction sector has settled into a more moderate pattern in recent years. However, 2012 began on a positive note; in January 2012 the Executive Council announced that it had approved a range of projects, including some that had previously been put on hold, covering housing, health care and education, in addition to major transport infrastructure development. In real estate, a number of commercial and residential projects have come onto the market, bringing prices down to a level more comparable with those in neighbouring Dubai. Abu Dhabi’s retail and industrial segments are also expanding; mall space is expected markedly by 2015, while industrial real estate has much potential for growth thanks to the government’s focus on establishing the emirates as a centre for industrial activities and transport. This chapter includes an interview with Majid Al Mansoori, Chairman, Department of Municipal Affairs (DMA).