The UAE construction industry grew at a CAGR of 45.31% for the period 2003-2008. Non-residential sector’s market share was 80.2% in 2008, while residential sector accounted for the balance 19.8%. The UAE has witnessed tremendous growth over a period of time due to its oil exports and foreign investments. As such it has turned out to be one of the most preferred destinations in the Middle East when it comes to attracting foreign investments. The UAE has a high GDP per capita and is currently ranked 14th in the world. In terms of energy consumption per capita, it is ranked 3rd in the Middle East. The construction sector has also witnessed rapid growth due to development projects undertaken by state run companies, and continued foreign direct investments since 1970. Currently, construction is the third largest sector in the economy after oil and trade. In 2008, construction contributed to approximately 7% of the overall GDP of the country. Most of the construction projects in the UAE are centered in Abu Dhabi, Dubai and Sharjah