The UAE's construction sector grew by more than 25 per cent in 2007 – the highest increase among key contributors to the country's gross domestic product (GDP), according to official figures.
The sector shot up by 25.4 per cent from Dh46.4 billion in 2006 to Dh58.3bn last year, the Central Bank figures showed. It was the country's fastest expanding industry, surpassing growth in the dominant oil sector, which stood at 18.5 per cent.
Manufacturing was the second-fastest growing sector, rocketing by 20 per cent from Dh75.5bn in 2006 to Dh90.5bn in 2007.
The surge meant the sector maintained its position as the second-largest component of the UAE's GDP after oil, accounting for 12.3 per cent of the overall figure of nearly Dh729.7bn.
The oil sector accounted for 38.5 per cent of the GDP.
The figures showed real estate and business services soared by 17 per cent, while growth was estimated at 12.5 per cent in trade, 11.3 per cent in electricity and water, 7.8 per cent in social and personal services and 7.6 per cent in transport and communication. GDP growth stood at 16.8 per cent.