UAE pumps over Dh309bn into development in 2012

The UAE spent nearly Dh309.2 billion on development projects in 2012 and more than 60 per cent of the investments were pumped by the private sector.

Official data showed the investments last year were nearly 9.8 per cent higher than the 2011 spending of around Dh281.7 billion.
The private sector accounted for nearly 65 per cent, investing around d Dh201.8 billion in 2012 compared with Dh183.9 billion in 2011, the Ministry of Economy said in a report  published in the semi official daily Alittihad.

Public investment also increased by around 9.7 per cent to 107.3 billion from Dh97.8 billion in the same period, the report showed.
A breakdown showed the real estate sector was the largest recipient of those investments, accounting for nearly 17.8 per cent.

It was followed by the manufacturing sector, receiving 14.7 per cent and the transport and communications sector, with about 13.8 per cent.