Business | Emiratisation
GCC region opening doors to garden and landscaping sector
Increased demand will see $60b investment over next five years
- Staff Report
- Published: 01:10 March 4, 2008
Dubai: The construction industry in the Gulf Cooperation Council (GCC) region, valued at Dh3.6 trillion, is opening doors to the garden and landscaping sector, which is seeing increased demand as $60 billion (Dh220 billion) enters the market over the next five years.
"Projects such as Dubailand will require vast amounts of landscaping, as will the Palm Islands and the World Projects as well as new golf courses and park facilities," said Eckhard Pruy, chief executive of Epoc Messe Frankfurt GmbH, organisers of the garden and landscaping Middle East exhibition which opens today at the Dubai International Exhibition and Convention Centre.
"The building boom will see hundreds of billions of dirhams being spent on new housing developments, apartment blocks, hotels, leisure facilities, office developments shopping malls and even islands over the next five years," said Pruy.
"According to recent statistics, up to five million residential units are under construction in the GCC, including more than 1,400 new high-profile developments collectively valued at over Dh2.5 trillion," Pruy said.
By 2010 forecasts are that Dubai's new homes, apartments, hotels and clubs will see as many as 5,000 new swimming pools being built.
Business Editor's choice
-
Saudi-Bahraini economic ties hit new high
Whilst press reports continue speculating on a possible new political structure defining ties between Saudi Arabia and Bahrain, facts on the ground confirm ever- stronger economic ties between the two neighbours
-
Cupid targets the Fed with early tweets
Declarations range from pure romance to cute overtures and racier fare
-
Do unemployment figures flatter to deceive?
Jobseekers and recruiters give out mixed signals ranging from optimism to downright despair even as official data show recovery
