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05.02.2015
Experts believe Dubai is likely to face a housing shortage by 2020, and will requires new hotels to accommodate growing number of tourists.
Dubai developers have stepped up their game, announcing a huge number of mega developments in the past two years, Emirates 24/7 reported.
A recent report by Meed puts contracts worth $27 billion being awarded in Dubai alone over a span of 10 years, while the UAE has seen $56.45 billion worth of contracts being awarded in the last seven years.
Experts believe Dubai is likely to face a housing shortage by 2020, and will requires new hotels to accommodate growing number of tourists. The emirate is host to Expo 2020, which is expected to bring over 25 million tourists to the country.
A research by EC Harris, a built asset consultancy firm, has said UAE’s booming construction industry is leading the way in sustainable development in the Middle East and North Africa.
