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The Deira Islands night souk

UAE leads in biggest commercial projects in GCC

DUBAI, August 6, 2017

The UAE dominates the top 10 commercial and retail projects in the GCC in both estimated value and number of projects, according to a new study.

Four out of the five UAE-based projects are being developed in Dubai, making it the construction hub of the GCC region, said the 'Major Commercial & Retail Projects in the GCC' report, prepared by BNC for The Big 5 Dubai, being held from November 26 to 29 at the Dubai World Trade Centre.

“The UAE and Dubai are tirelessly pushing boundaries and taking giant leaps in the GCC construction sector,” said portfolio director for The Big 5 Dubai, Josine Heijmans. “Dubai is where investors are snatching up exciting and forward-thinking opportunities”.

The top 10 projects according the report are:
1. Deira Islands Mall – Deira Island: The $1.8 billion Deira Islands mall project stands at the top of the BNC list. With completion estimated in 2020, the three-storey shopping mall with 620,000 sq m of retail, dining and entertainment will feature a 500-m glass dome, and two hotels;

2.  Abu Dhabi Mall – Al Marayah Central: With an estimated completion in December 2018, the $1 billion project involves the construction of a 3.1 million sq ft mixed-use development, which will include a 2.3 million sq ft of shopping centre, and two 40-storey towers;

3. ICD Brookfield Place: Valued at $1 billion and due for completion by April 2019 in Dubai, the project involves the construction of a mixed-use development comprising a 53-storey retail centre offering shopping, dining, fitness and private club facilities;

4.      Dubai Tower – West Bay Corniche: Set to be the tallest tower in Qatar, the 437-m-high structure has an estimated value of $632 million and is expected to be completed in February 2021. The tower will feature a five-star boutique hotel comprising a health centre, a gymnasium, restaurants, and business centre;

5. Headquarters complex for Saudi Electric Company – Al Olaya: The $550-million headquarters complex will consist of four buildings each comprising five floors. Spread over an area of 250,000 sq m, it has a completion date of September 2019;

6.  Silicon Park – Dubai Silicon Oasis: Due for completion by the end of 2018, the $354-million integrated smart city will consist of around 20 mid-rise buildings, offering office space, commercial space, residential area, and a business hotel. Additionally it will include various value-added facilities.

7. Headquarters for National Bank of Kuwait: The 300-m-high headquarters will feature a new archive museum, which will showcase historical items from the bank and Kuwait. Valued at $299 million, completion is expected in the first quarter of 2018;

8. Dubai Eye – Bluewaters Island Development: The project, valued $272 million, involves the construction of a 210-m Ferris wheel with 48 luxury capsules capable of holding 1,400 visitors. Expected to be completed by October 2017, the centrepiece will feature retail, residential, entertainment and hospitality offerings;

9. Convention Center – Oman Convention & Exhibition Center: Currently under construction with an estimated completion date of early 2018, the convention center will consist of 3,100-seat central auditorium, as well as a secondary auditorium, a Grand Ballroom, a food court, meeting rooms, and administration offices.

10.  Jeddah Chamber of Commerce & Industry Extension: Worth $108 Million, the hotel and commercial towers are expected to be completed by late 2018. The two towers are linked via a five-storey podium.

The Big 5 welcomed over 78,000 visitors and exhibitors to Dubai last year. The largest construction event in the Middle East will showcase the most innovative solutions for the built environment from around the world. It will feature knowledge-sharing CPD (Continued Professional Development) certified talks covering Technology, Sustainability, Project Management and more.

As well as an all new HVAC (heating, ventilation and air conditioning) dedicated hall, there will be a high-profile Excellence in Construction Summit and Innovation in Precast Summit. There will also be live products demonstrations, as well as the return of the industry’s most respected 10th edition of the Gaia Awards.  

The 38th edition of The Big 5 Dubai, organised by dmg events Middle East, Asia & Africa, will be co-located with The Big 5 Solar event. - TradeArabia News Service


Tags: UAE | Big 5 | Projects | commercial |

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