Jafza forum discusses growth of construction & steel sector

DUBAI / WAM

Jebel Ali Free Zone, (Jafza), is keen on providing additional incentives to construction and steel sector, having allocated an area of 1.1 million square metres in Jafza South for companies in the industry, according to a top official of the free zone.
“Jafza supports the role of the construction and steel industry by facilitating incentives for investors as we acknowledge its vital role in regional and global economy,” said Talal Al Hashimi, the Chief Operating Officer of Jafza, at a forum held recently at the National Industries Park. The forum was attended by industry leaders, key officials from partner entities and senior management from Jafza.
Al Hashimi said, “Despite the global market facing stiff challenges, recent reports are extending an optimistic outlook for the growth in this sector, locally and regionally. The Business Monitor International, BMI, has reported a 6.6 percent growth in the construction sector in the UAE this year to reach a total value of AED181 billion by end of 2017, compared to AED162 billion this year; thus revealing a promising growth of 6 percent over the next three years.”
The forum also provided an insight into the industry through a presentation entitled, ‘The future of the industry’ that offered a detailed information on the 3,872 projects active in the emirate worth US$350 billion.