UAE Construction Market is Expected to Grow at high CAGR through 2028
The UAE construction market is
expected to grow during the forecast period due to increasing investment and tourism construction in
Dubai to aid market dynamics.
According to
TechSci Research report, “UAE Construction Market-
By Region, Competition, Forecast & Opportunities, 2028”, the UAE construction
market is predicted to grow during the projection period due to the rising
construction activity.
The
Private Public Partnership (PPP) model, which enables the provision of
effective goods and services at a lower cost, is also being adopted by the
nation. The Abu Dhabi government proposed an ambitious plan in 2020 to invest
over USD 2.72 billion in infrastructure partnership projects in a number of
sectors, including municipal work, transportation, and education. The PPP
initiative was created as a component of Abu Dhabi's USD 14 billion 'Ghadan 21'
accelerator program to support economic expansion.
Approximately
60% of construction companies across the world participated in green
construction projects, according to the World Green Building Trends Survey.
Construction companies may create high-performance sustainable homes and
businesses with the support of certifications such as Leadership in Energy and
Environmental Design (LEED), which also provide a number of advantages,
including tax savings and marketing opportunities. Natural paints and
repurposed steel beams are two examples of sustainable building materials that
are frequently employed.
Browse over xx market data Figures
spread through 70 Pages and an in-depth TOC on "UAE Construction Market”
Key market players
in the UAE construction market include:
- AE Arma-Electropanc
- Consolidated Contractors
Group
- Bechtel
- Fluor Corp
- Arabtec Construction LLC
- Al Futtaim Carillion
- Arabian Construction Company
- Joannou & Paraskevaides
Overseas Limited
- Freyssinet Gulf LLC
The
UAE construction market is divided into industry type and end user. Based on industry
type, the market is divided into industrial, commercial, infrastructure, and
residential. Based on end user, the market is divided into private and public.
Based on industry type, the commercial
segment will dominate the market during the forecast period. This construction industry's
project types include retail buildings, office buildings, outdoor recreation
areas, leisure and hospitality structures, and other types of commercial building.
The infrastructure sector's expansion will be aided by the continuous revival
of tourism and hospitality industries. Investment in hotel, retail, office,
logistics, and data center developments will also help the commercial sector's
output during the forecasted period. Additionally, a historic agreement to normalize
relations between Israel and the UAE has opened doors for investment. The UAE decided
to create a joint plan to increase energy sector cooperation. Abu Dhabi wants
to keep its long-term growth going. Investments in Abu Dhabi's commercial
building industry will eventually assist counteract a predicted decrease after
Expo 2020. Abu Dhabi's share of the pipeline is estimated to grow in the coming
years as the government prioritizes efforts to expand the Emirate's economic
base beyond oil. According to the Abu Dhabi 2030 Plan, the Government of Abu
Dhabi hopes to bring in 7.9 million visitors a year by the year 2030. In
addition, the Emirate wants to increase its office and retail space to 4 million
and 7.5 million squares, respectively. Manufacturing facilities, waste
processing facilities, chemical and pharmaceutical plants, and factories for
producing and processing metals and other materials will dominate the
industrial sector, which will follow the commercial sector. A growth in
manufacturing sector investment along with a rise in export activity will
support the construction industry's output during the projected period. The UAE
Economic Vision 2030 plan's emphasis on enhancing the business climate and
efforts to promote long-term economic diversification will assist the
industrial construction sector's output even more.
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“The construction
market in the UAE is anticipated to grow during the anticipated time. Over the
next few years, the UAE construction market is anticipated to expand due to the
rising construction activity. The UAE's population growth, urbanization, and
increase in local manufacturing are all major market drivers. Strong increase
is being seen in the residential sector, particularly in the single-family
construction sector. The non-residential building business has also seen growth
over the course of history, which has helped the UAE construction market grow
even more. The modernization of transportation infrastructure is assisting
market expansion as well. A number of other factors will also propel the growth
of the market,” said Mr. Karan Chechi, Research Director with TechSci Research,
a research-based global management consulting firm.
“UAE
Construction Market, By Industry Type (Industrial, Commercial, Infrastructure,
Residential), By End User (Private, Public), By Region, Competition, Opportunities
and Forecast, 2028,” has evaluated the future growth potential of the UAE construction market
and provides statistics and information on market structure, size, share, and
future growth. The report is intended to provide cutting-edge market intelligence
and help decision-makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities present in the UAE construction market.
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