Some industry analysts have expressed concerns that the UAE's construction sector is growing at a dangerous pace, and that such unsustainable growth could lead to market instability and problems for investors and the region's economy in the future.
"There is a lot of capital in the region's markets and there's a huge appetite for real estate and much of what's done is not sustainable," stressed Chief Investment Officer of Aldar Properties, John Shaw.
"There's a stampede for development and it is vital to have infrastructure ahead of development, otherwise there could be problems and we won't see sustained growth," he told reporters at a news conference, according to Gulf News.
Aldar Properties, listed in Abu Dhabi, recently announced it would be the sole sponsor of the Third Engineering Excellence Forum, 'Built Environment for Sustainable Development' to be held on November. The event is organized by the Higher Colleges of Technology in Abu Dhabi.
"With careful land use, planning, investment infrastructure, high quality design and construction and thoughtful conservation practices, a truly remarkable and sustainable city will be taken to its next level," said Straw.
In an effort to ensure sustainable development, Dr Tayeb Kamali, Vice Chancellor of HCT along with other companies will cooperate with Aldar.
