UAE builders stretched to limit
By Shakir Husain, Staff Reporter
gulfnews.com
Dubai: Although the feverish pace of construction in the UAE is boosting revenues, it is also straining the resources of leading contractors.
Al Habtoor Engineering said it is currently handling Dh14 billion worth of construction projects in the UAE and does not have enough men and machines to accept additional work.
"We reject a lot of projects because we are stretched to the limit," Al Habtoor group chief executive Mohammad Al Habtoor told Gulf News.
Al Habtoor group expects its construction division to continue to have from Dh10 billion to Dh15 billion worth of projects for other clients at any given time.
It is involved in the Dubai airport expansion project and is building 11 towers in Business Bay. It expects to finish the airport work by the end of next month.
Outside the UAE, Al Habtoor is also working on Dubai Holding's Dh2.5 billion Dubai Tower in Qatar.
Kez Taylor, managing director of Al Jaber Engineering and Contracting company, said the ongoing construction activity is keeping contractors busy.
Some of the large projects being handled by Al Jaber are at Dubai Marina Mall and Burj Dubai, part of Emaar's $20-billion Downtown Burj Dubai development.
"Our company is in a position to take new projects, but the market is very busy at this point of time," Taylor said.
He expects the construction activity to continue at the current pace for up to five years.
The value of projects being undertaken by various units of Dubai Holding in the emirate exceed Dh400 billion.
Business Bay and Culture Village, being developed by Dubai Properties, will require an estimated investment of Dh150 billion and Dh50 billion respectively. Investments within Tatweer's Bawadi development will total Dh100 billion upon completion.
Emaar's 500-acre Downtown Burj Dubai development will also include The Dubai Mall, the world's largest shopping and entertainment complex; and The Residences, a series of high-rise apartment towers.
Nakheel, another leading UAE developer, currently has 16 big projects worth more than $30 billion under development. Its portfolio includes The Palm islands, The World and Dubai Waterfront.
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