Dubai set to become 'crane capital' as construction picks up
Dubai: The skyline of Dubai is set to undergo a sea change as the construction industry here is expected to gain further momentum this year, according to an international property agency.
Construction cranes have dotted the Dubai skyline and are seen to herald the economic growth, with a major build-up of momentum in the real estate activity.
Dubai was once home to almost 25 percent of the world's cranes during the height of the property boom and now is set for the revival era of the construction industry.
Simon Gray, Managing Director of Chesterton MENA, said the requirement for equipments and machinery in the construction industry is anticipated to rise further in the UAE, especially in Dubai, owing to the real estate boom.
"Although the consolidation of activities related to the construction industry in the UAE is in Dubai and Abu Dhabi, the other emirates are not far behind.
"Dubai has seen an increase in the real estate investment which is because of its predominant presence being in the centre of construction activities. The trend suggests that the indications back up the fact that there will be no respite in the increase in construction activities," Gray said.
According to him, with the construction activities to take off, Dubai will once again be billed as the 'crane capital' of the world with several mega projects in the pipeline.
"We expect 2014 to be another positive year for real estate sector in the UAE, Dubai in particular," he said.
Chesterton, which was established in 1805, has its Middle Eastern headquarters in Dubai and offers a full range of property services, including residential and commercial sales and leasing.
The city?s high quality infrastructure and the geographical location, positions Dubai as one of the best cities in the world to live and do business," Simon said.
Chesterton MENA recently received the 'Highly commended property consultancy in Dubai' award during the recently held 2013th edition of Arabian Property Awards.