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* UAE Heads GGC Construction

Taken from AMEInfo and Gulf News

The UAE has $176.04 worth of construction projects running, making up 63.7% of the total value of projects under development in the GCC.

The value of 1,400 ongoing projects in the GCC, Iraq and Iran will touch Dh2.57 trillion ($700 billion) by the end of this week.

The UAE, with a population of 4.32 million, accounts for 31.57 per cent of the projects by value, worth Dh812.57 billion ($221.41 billion).

Among the leading government organisations, Nakheel has the largest project portfolio with Dh110 billion ($30 billion) currently under development, including the Palm Island trilogy, the World, Dubai Waterfront, Jumeirah Lakes, Jumeirah Villas, Jumeirah Golf Estates and International City, among others.

This is followed by the Dh45 billion airport development undertaken by the Department of Civil Aviation. The Jebel Ali Airport City is expected to change the entire landscape of Dubai's south.

These ventures are closely followed by Emaar Properties' portfolio of development projects, currently valued at $8.30 billion, in addition to $3.3 billion in overseas investments under Emaar Middle East and much more under Emaar International.

The Dubai government's investment arm, Dubai Holding could easily outshine many others with the upcoming projects, currently estimated at $7.57 billion.