From: Arab - American Business Date: October 1, 2007 Author: Khalil, Ali
Dubai leads the $38 billion construction explosion with $15 billion in planned investments
DUBAI (AFP) - Oil-rich Gulf countries have embarked on grandiose projects to build and expand their airports, capitalizing on huge oil-generated surpluses and an ideal geographic location.
More than $38 billion are being spent on brand-new airports or on expanding existing facilities across the six members of the Gulf Cooperation Council (GCC).
OPEC kingpin Saudi Arabia recently announced plans to invest around $5.4 billion on airport projects. The vast desert kingdom already has 27 airports, including three international airports.
Plans are under way to revamp the dated King Abdul Aziz airport in the ...
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