Business optimism has reached record levels in Dubai’s construction sector thanks to a strong pipeline of work.
There was a “marked improvement” in conditions within the sector in June, according to Emirates NBD’s monthly survey which underpins the Dubai Economy Tracker Index.
Its construction sector index rose to 57.1 in June from 54.6 in May, reflecting stronger growth in output and new work last month.
Business optimism in the sector rose to an all-time high of 89.1 due to the strong project pipeline.
Employment in the sector increased as well at a similar rate to May. Input costs were broadly unchanged from May, providing some relief for businesses.
Although there was still marginal discounting in terms of selling prices last month, it was less pronounced than in May, the report said.