UAE property boom assessed to be much more sustainableand less susceptible to external financial shocks compared to 2008
Dewan ranked one of the top twoarchitectural firms in the Middle East
The UAE's construction industry is in the midst of resurgence. Dubai's real estate prices surged more than 30% last year- with further growth expected to come - according to a recent report by global real estate firm Jones Lang LaSalle (JLL).
The global financial services group Citi assessesthe property boom in the country to be much more sustainable and less susceptible to external financial shocks, unlike 2008.
The UAE's GDP is projected to increase by up to 5% in 2014, while growth will be buoyed in coming years by events such as the World Expo 2020 in Dubai -it is little surprise that Building Design Magazine, the industry-leading UK publication, emphasises"Dubai's re-emergence into the global spotlight" this year. That builds upon an almost 4% rise in GDP across the country last year.
Dewan Architects and Engineers has been recognised for the fifth consecutive year as one of the world's top architectural firms inBuilding Design's 2014 World Architecture 100 rankings - an annual barometer of excellence in the industry.
Notably, as "the UAE's burgeoning construction industry is targeted by firms around the globe," as BD puts it, Dewan is in prime position to take advantage. It was the only company based in the UAE to be recognised in the rankings,described as "the definitive survey in its field". Dewan attained the second highest ranking of any firm based in the Middle East, as well as coming in atjoint No. 50 globally.
Building Design also highlighted Dewan's successes in Iraq since the firm returned to the country in 2010 - in particular the award of two substantial contracts last year: the US$60 million Basra Cultural Centre, anda masterplanning contract for Madinat Al Nakhla, a14,500hanew city in Basra which will accommodate up to a million people on completion.
Worldwide, Dewan has offices in the UAE, Saudi Arabia, Iraq, Qatar, the Philippines, and India. This year, as it celebrates the 30th anniversarysince its foundation,it will also open an office in Doha. The firm employs 230 architects, working on a portfolio of world-class developments that extends across 10 countries.
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About Dewan Architects and Engineers:
Dewan Architects & Engineers has a portfolio of projects which spans more than ten countries, encompassing commercial and residential towers, mixed-use projects, hospitality and leisure developments, sports complexes, retail malls, healthcare developments, education facilities, and urban planning developments. A multi-disciplinary architectural and engineering consultancy firm, which has garnered a reputation for designing innovative buildings that are fresh and inspirational in design and function, it was recently ranked among the top-50 companies globally by Building Design Magazine.
© Press Release 2014
