29 September 2023
29 September 2023
The community will be located within the Golf District of Dubai South.
Both contracts will be included in Peab's order bookings for Q3 2023.
The first phase of construction is estimated to cost $5bn and will generate 3,000 jobs.
Post-completion, the plant will supply 2.7 million gallons of potable water per day to the city.
The administrators have found significant issues relating to the company's board-level governance.
The development will be undertaken in line with the company's 2050 carbon-neutral vision.
Construction is set to begin immediately and be completed in early 2026.
Projects under the contract will involve the modernisation of dams, flood barriers, and other key infrastructure.
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Per GlobalData analysis, the South-East Asia construction industry in 2023 is dominated by Indonesia, though the country will see a slowdown compared to 2022 due to elevated building material prices, weak commercial property demand, high interest rates and a softening of external demand. The construction industry in the Philippines is estimated to register a AAGR of 7.2% between 2024 and 2027, supported by the government’s focus on the development of the country’s rail and road transport and energy infrastructure.
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