Construction in the UAE-Key Trends and Opportunities is expected to record a compound annual growth rate (CAGR) of 4.73% over the forecast period 2022

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Synopsis
The UAE construction industry regained growth momentum in 2017, with output expanding by 3.9% in real terms up from 3.0% in 2016. Growth during the review period (20132017) averaged 4.1% a year, and was supported by public and private sector investment in transport, commercial, residential and energy infrastructure projects, leading to an increase in demand for the UAE construction industry.

The industry is expected to continue to expand over the forecast period (20182022), driven by investments in transport, energy and social infrastructure development projects under various programs such as the Strategic Plan 2021, the Energy Strategy 2050, Sheikh Zayed Housing Program, Dubai Tourism Strategy 2020 and the National Strategy for Higher Education 2030. The upcoming World Expo 2020, to be hosted by Dubai, is expected to be a major growth driver.

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Industry growth will also be driven by the UAE Vision 2021 and Abu Dhabi Economic Vision 2030, under which the government marks industrialization, diversification and privatization as growth opportunities. The government is investing in non-oil sectors to reduce the countrys dependency on the oil and gas sector. This will support the growth of the construction industry over the forecast period.

The industrys output value in real terms is expected to record a compound annual growth rate (CAGR) of 4.73% over the forecast period.

Summary
Timetrics Construction in the UAE Key Trends and Opportunities to 2022 report provides detailed market analysis, information and insights into the UAE construction industry, including:

The UAE construction industry's growth prospects by market, project type and construction activity

Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the UAE construction industry

Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

Scope
This report provides a comprehensive analysis of the construction industry in the UAE. It provides:

Historical (2013-2017) and forecast (2018-2022) valuations of the construction industry in the UAE, featuring details of key growth drivers.

Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector

Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.

Listings of major projects, in addition to details of leading contractors and consultants

Reasons To Buy
Identify and evaluate market opportunities using Timetric's standardized valuation and forecasting methodologies.

Assess market growth potential at a micro-level with over 600 time-series data forecasts.

Understand the latest industry and market trends.

Formulate and validate strategy using Timetric's critical and actionable insight.

Assess business risks, including cost, regulatory and competitive pressures.

Evaluate competitive risk and success factors.

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Key Highlights
Government focus on developing infrastructure ahead of the 2020 World Expo is expected to support growth in the UAE construction industry over the forecast period. Accordingly, the government is expected to invest over AED25.0 billion (US$6.8 billion) to develop Expo-related infrastructure, including roads, rail and other transport infrastructure projects in and around the Expo site.

Timetric expects the energy and utility construction market output to record a forecast-period CAGR of 6.81% in nominal terms, driven by government investments in renewable energy infrastructure. The government plans to invest AED600.0 billion (US$163.0 billion) to develop renewable energy projects in the country by 2050.

The governments focus on the construction of affordable houses is expected to drive growth in the residential construction market. In the 2018 federal budget, the government announced plans to invest AED1.4 billion (US$381.2 million) on housing projects under the Sheikh Zayed Housing Program.

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The UAE construction industrys growth will be driven by a government plan to increase the share of renewable energy in terms of total energy consumption, encouraging investment in renewable energy infrastructure. To reduce the countrys reliance on fossil fuels to generate power and meet rising energy demand, the government is developing renewable energy infrastructure. The government aims to generate 44% of the countrys total electricity needs through renewable sources by 2050, under the new UAE Energy Plan 2050.

The total construction project pipeline in the UAE, as tracked by the Construction Intelligence Center (CIC), including all mega-projects with values above US$25 million, stands at AED3.2 trillion (US$864.3 billion). The pipeline, which includes all projects from the pre-planning to execution stages, is heavily skewed to late-stage projects, with only 17.3% of the pipeline value being in projects in the pre-planning and planning stages as of January 2018.

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