Emirates real estate sector sees over AED140bn in the past five years
Figures released yesterday by the Ministry of Economy have shown that over AED140bn was invested into UAE real estate and construction investments during the period 2004 through to 2008.
The figure represented an increase of over 100% than for the previous five years in the region, and accounted for 21.6% of the regions gross capital formation for the period. During 2008, investment into the Emirates real estate and construction sector accounted for 23% of the total gross fixed capital, surpassing that of the oil and gas sector.
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