Page 65 - magazine Jun 2020

Local News Local News

UAE contractors’ record revenue drops in

March, April

a drop in revenues, according to a poll conducted
by DMG events, the organizer of The Big 5 trade
show.
They don’t expect an improvement in the second
quarter either. “Constrained revenues are
expected to continue,” the poll finds. “A majority
of respondents (61 per cent) believe the second
quarter will end with a reduction.”
And there are those who still expect an improvement
this quarter – 23 per cent of respondents agreed
with this thought.
Construction activity has continued in the UAE
through the weeks when restrictions were put
on most commercial activity. But project sites
and contractors had to ensure strict guidelines
were followed at all times to combat any risk of
COVID-19.
But April was the toughest month, going by poll
Construction companies in the UAE and Gulf findings. “Of those surveyed, 64 per cent expect to
experienced a sharp contraction in first quarter, see a further reduction month-on-month - just 16
with the process accelerating in March. That per cent were forecasting an increase,” the report
month, more than 60 per cent confirmed they saw states.
New villas launched in UAE coastal second

home project

and 525 square metres.
Imkan Properties CEO, Walid El Hindi, said: “We
are proud to announce our two new villa types at
AlJurf Gardens, Badya and Shaden. Our latest
introduction is driven by the positive feedback
and demand on our product. “As we continue to
grow our coastal community, we aim to stay on
the path of providing an attractive second-home
destination and investment opportunity to those
in the nearby cities of Abu Dhabi and Dubai and
further afield in the GCC.”
UAE-based developer Imkan has announced the AlJurf is located along Sahel Al Emarat - Riviera of
launch of two new villa types at its second home the UAE - and stretches over 300 hectares.
destination, AlJurf, located on the coast between Home to 293 properties and land plots,
Dubai and Abu Dhabi. homeowners investing in the area will have access
With the names Badya and Shaden, the semi- to an abundance of open green spaces, the
detached properties make up part of the welness clinic and resort SHA Emirates, private
landscaped grounds of AlJurf Gardens, the marina and beach, as well as shops, restaurants
company said in a statement. and other family-friendly activities.
It added that both properties offer a choice of two Badya and Shaden join AlJurf’s current villa
to four bedrooms, and a living space between 310 offering of Rabia, Budoor and Joud villas

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