Monday, November 24, 2008

Nakheel tops list of property owners at The Big 5 event

The Big 5, one of the world's largest trade fair for the construction industry in the Arabian Gulf and the associated suppliers, was unveiled on 23rd November 2008 at the Dubai International Exhibition and Convention Center.

The five-day event involves participation of 53 countries with more than 3000 exhibiting companies with $800bn worth of construction projects and about 50,000 visitors from around the world. The organizers of The Big 5 event, dmg World Media Dubai, revealed the top five owners, managers, contractors, financiers and architects involved in the construction projects of the UAE.

Out of the tables released today, companies from the UAE, Belgium, Netherlands, United States, United Kingdom, India and Australia, are among the top in terms of ranking of the value of projects with which they are associated.

Leading real estate developer in Dubai, Nakheel tops the list of property owners in the UAE, with Dh.360.44billion worth projects, revealed the organizers. The biggest projects by Nakheel are the Palm Deira, the World, Nakheel Harbour, Dubai Waterfront and Tower development.

This is followed by a Belgian dredging company who is the Principal Contractor, the US-based Hill International tops the Project Managers list, the Abu Dhabi Commercial Bank leads the Project Financiers list, and the Australian firm tops the list of Project Architects with the development of a small emirate of Umm Al Quwain.

The civil construction projects continue to dominate projects that are currently in progress, topped by Jumeirah Gardens ($95bn), Dubailand ($54bn), Palm Deira ($40bn), Yas Island ($38bn) and White Bay Umm Al Quwain ($29bn).

The rankings are done on the basis of analysis of active construction projects that are currently in progress in the UAE across all sectors including oil and gas, civil construction, water, power, industrial and petrochemical sectors contained within the database of Proleads, the Research Partner of The Big 5.

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