With the courtesy of Gulf News, this report shows how Dubai has rapidly changed into entire a new world.
Dubai: About 30,000, or 24 per cent of the world’s 125,000 construction cranes, are currently operating in Dubai, according to the organisers of the Conmex construction machinery exhibition.
Demand for construction related machinery, equipment and vehicles is expected to continue rising in the Middle East, especially in the UAE, due to the continuing construction and real estate boom.
In 2003, the UAE’s market for heavy construction machinery stood at $165 million, road construction machinery at $142 million and earth moving machinery at $125 million. The size has increased by 15-20 per cent since then.
Annual market demand for used machinery in the Middle East is valued at over Dh5 billion.
As of last April, there was almost $300 billion worth of projects underway in the UAE.