Dubai: Dubai Investments (DI) has announced that its subsidiary companies Glass LLC, Emirates Building Systems and Dubai Cranes have a won a number of new projects in Dubai, Abu Dhabi, Qatar and Saudi Arabia as the construction activity increases in the region.
Notable projects won by DI subsidiaries include glass orders for Dubai Design district, Habtoor hotel, Masdar office building in Dubai, Credit Lebanese Head Quarters in Beirut, steel structures for Riyadh Public Transport, three petrochemical projects for Saudi Aramco, end-to-end steel building solutions for Fifa 2022 stadiums in Qatar, petrochemical projects in Oman as well as residential and airport developments in the UAE and standard, overhead crane kits for ongoing projects with Emirates Aluminum, Dubai Aluminium and Dubai Electricity & Water Authority.
The construction activity across the UAE has witnessed a major upswing this year, with projects worth $46 billion awarded in 2014 alone, a significant rise from $38 billion last year. A vast majority of these contracts are in the residential sector.
Abdul Aziz Bin Yagub Al Serkal, General Manager of Dubai Investments, said in a press release: “2014 has been a momentous year for DI’s business growth in the real estate and construction sector. The construction industry has always been a key source in driving growth for the UAE’s economy and the current upswing, especially in residential projects, has led to unprecedented demand for quality building materials and innovations – which offers us a huge growth opportunity.”
Dubai Investments PJSC is a leading investment company listed on Dubai Financial Market with over 19,894 shareholders, and paid-up capital of Dh3.5 billion. The company works in manufacturing, financial investments, real estate development and mergers and acquisitions.