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Edit Edit PDF Contracts worth $78.2 billion awarded this year

December 28, 2009
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A total of $78.2Bn (Dh287.2Bn) worth of construction contracts were awarded in 2009 with energy projects leading the list. In a nutshell, infrastructure development was one of the key areas of development for the construction sector. Another trend that is gaining ground is the public-private partnership. Given the current slowdown and issues with project financing, the public-private partnership (PPP) will be beneficial for the industry. PPPs are especially a proven means to infrastructure development when a government cannot or chooses not to finance projects by itself. Governments can resort to PPPs, to share the risk and cost with the private sector. As far as sectors are concerned, oil and gas projects being re-tendered accounted for 49 per cent of the market, while civil followed at a close 40 per cent. In terms of value, oil and gas accounted for 54 per cent, while civil captured 40 per cent of the market according to statistics obtained from Proleads. As Jim Delkousis, Partner, (Head of Litigation and Regulatory), DLA Piper Middle East, said: "We have seen many clients proceeding to arbitration. It is getting there quicker when compared to the beginning of 2009," he said. "These cases are going to the Dubai International Arbitration Center (Diac). I have also seen some being referred to the Abu Dhabi Chamber of Commerce. But certainly, so far, as the construction sector in Dubai is concerned, Diac is getting its share of cases." Currently, legislations vary from project to project '?? what applies on one project does not for another. In Dubai alone, there are several practices being adopted by different agencies such as the Dubai Municipality, various free zones and Tecom. On May 20, for the first time in the UAE, the Health Authority Abu Dhabi (Haad) with the support of the Ministry of Labor combined forces to launch a Safety in the Heat' program. This was aimed at creating awareness and enhancing the health and safety of workers in Abu Dhabi who are exposed to high temperatures and humidity during the summer months. Abu Dhabi Urban Planning Council (UPC), the agency responsible for the future of Abu Dhabi's urban environments in April unveiled a new buildings rating method designed to improve quality of buildings in the capital. Moreover, the article displays top civil and infrastructure contracts in UAE. Tameer Towers at the Central Park District in Shams, valued at $1.9Bn.
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