UAE Construction Market Report- Growth with Industry Study, Detailed Analysis and Forecast to 2024
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The UAE's construction sector declined by an estimated 4.8% in real terms in 2020, due to the Coronavirus (COVID-19) outbreak and low global oil demand. GlobalData maintains its expectation that the construction industry will rebound in 2021, and record growth of 3.1%. The postponement of Expo 2020 increasingly looks like a boon that will allow Dubai to ride a wave of post-COVID-19 enthusiasm for new business opportunities in the short term. Thereafter, the industry is expected to expand at an annual average of 3.8% between 2022 and 2025. The approval of a new Dubai Building Code in October 2020 is a positive development; the new code outlines a revised set of construction rules and standards and seeks to reduce construction costs by streamlining building rules.
As part of its economic support program, in July 2020 the government announced a new package worth AED1.5 billion (US$408 million), including the cancellation of certain fines imposed by the government and the customs department, tax reimbursements to hotels and restaurants, and providing various banking facilities to individuals and corporates. In October 2020, the government announced an additional AED500 million (US$136.1 million) of a stimulus package to support the local economy, and then a further AED315 million (US$85.8 million) in early January 2021.
The medium-term outlook still looks promising, as the government continues with its infrastructure plans, given various government initiatives such as the Energy Strategy 2050, the Sheikh Zayed Housing Programme and the Dubai Tourism Strategy. Infrastructure projects are a key part of the UAE's economic expansion, as it seeks to build efficient transport and logistics networks as well, as reliable supplies of clean energy. Furthermore, Israel and the UAE have reached a historic deal to normalize ties opening up investment opportunities, where the countries agreed to develop a joint strategy to boost co-operation in the energy sector.
UAE Construction Market 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 of this Report-
UAE Construction Market Report provides a comprehensive analysis of the construction industry in the UAE. It provides -
- Historical (2016-2020) and forecast (2021-2025) 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 this Report-
- Identify and evaluate market opportunities using RNR 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 RNR critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
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List of Tables
Table 1: Construction Industry Key Data
Table 2: The UAE, Key Economic Indicators
Table 3: The UAE, Commercial Construction Output by Project Type (Real % Change), 2016-2025
Table 4: The UAE, Top Commercial Construction Projects by Value
Table 5: The UAE, Industrial Construction Output by Project Type (Real % Change), 2016-2025
Table 6: The UAE, Top Industrial Construction Projects by Value
Table 7: The UAE, Infrastructure Construction Output by Project Type (Real % Change), 2016-2025
Table 8: The UAE, Top Infrastructure Construction Projects by Value
Table 9: The UAE, Energy and Utilities Construction Output by Project Type (Real % Change), 2016-2025
Table 10: The UAE, Top Energy and Utilities Construction Projects by Value
Table 11: The UAE, Institutional Construction Output by Project Type (Real % Change), 2016-2025
Table 12: The UAE, Top Institutional Construction Projects by Value
Table 13: The UAE, Residential Construction Output by Project Type (Real % Change), 2016-2025
Table 14: The UAE, Top Residential Construction Projects by Value
Table 15: The UAE, Key Contractors
Table 16: The UAE, Key Consultants
Table 17: The UAE, Construction Output Value (Real, US$ Million)
Table 18: The UAE, Construction Output Value (Nominal, AED Million)
Table 19: GlobalData Construction Market Definitions
Table 20: Risk Dimensions
Table 21: Ratings, Scores and Definitions
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