The raw statistics are still very impressive. More than a trillion dollars of what can broadly be catagorized as infrastructure projects are underway in the Middle East, a staggering two-thirds of them in the business-friendly UAE.
That is great news for global contractors of every shape and size. Yet private sector investors from overseas mainly find themselves sidelined. Abu Dhabi’s public-private partnership power stations are a rare exception to that general rule, so were the Dubai off-plan skyscraper towers that are now coping with the aftermath of massive overbuilding.
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