|By TAP Staff| The Middle East is set to witness $640 billion worth of construction projects, with each one exceeding $1 billion in the next five years, according to organizers of the Leaders in Architecture MENA 2015, being held in Dubai from today.
These projects are spread across a combination of retail, real estate, leisure, health and education asset developments as well as transport, communication and supporting social infrastructure systems.
Over three quarters of these major projects are valued at over $10 billion, including ‘new city’ developments.
The success of the architecture business is directly dependent on the development and growth of region’s economy in general and construction industry in particular. The new construction boom lifts architecture business in high growth markets, leaving both local and international architecture to compete for a piece of the market share. As the government and private developers’ criteria’s are becoming more demanding, it is imperative for the architects to not only be able to understand the most cutting edge designs, technologies and most sustainable practices but also strive to support the ambitious economical and political development strategies behind the growth, International Business Council, organizers of the event point out.
The 4th global edition of the Leaders in Architecture summit is the region’s largest event dedicated to developing, celebrating and connecting architects, interior designers and senior decision makers from leading international architectural practices, contractors, developers, government officials, engineers and solution providers.
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