Published on : Mar 14, 2017
ALBANY, NY, March 14, 2017: The report provides insights into the flourishing construction industry in the UAE, studying the opportunities in the segments of industrial, infrastructure, energy and utilities, institutional, and residential. The report also takes a note of World Economic Forums Global Competitiveness Report 2016–2017, which ranks UAE fourth among the 138 countries analyzed across the globe in terms of quality of road, transportation, and residential infrastructure.
According to the report, the UAE construction industry suffered a mild slowdown during 2012 to 2015, which was a reflection of decreasing oil prices and China’s economic slowdown. But in the recent times, the growth rate is regaining its old robust momentum, gaining from government investments in the sectors such as commercial infrastructure projects, residential, and transport. With improving investor confidence and favorable regional economic conditions, the construction industry is expected to flourish, also gaining from upcoming World Expo 2020. The government in the UAE is also inclined towards making their economy less dependent on oil, and hence are focusing on non-oil sectors, thereby propelling the commercial and industrial construction segments.
The report observes that government is aspiring to convert Dubai into a global hub of renewable energy, a motive clearly indicated by the 2015 launch of Dubai Clean Energy Strategy 2050. This strategy has been allotted US$27.2 bn in revenue to encourage investments by the players. The reflection of upcoming World Expo 2020 is also showing on expo-related infrastructure as the government has plans to invest US$8.7 bn for the construction of the expo site and Dubai South district.
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The report also takes a note of the launch of Jumeirah Central project in September 2016, which includes construction plans of more than 278 buildings, retail units expanding beyond 845,417.6 m?2; area, more than 11,000 housing units, 7,200 hotel rooms, and numerous office facilities.
The report provides critical insights such as the cost of equipment, service, and material used for construction, based on project type and progress. The report takes historical data from 2012 to 2016 and estimates the market scenario during the forecast period of 2017 to 2021. It also includes categorization of the market based on project type, type of cost such as materials, equipment, and services, and by type of activity including repair and maintenance, new construction, and refurbishment and demolition.
The report also profiles a number of leading companies operating in the construction industry in the UAE, including Arabtec Holding, Habtoor Leighton Group, Manazel Real Estate PJSC, Dubai Holding Commercial Operations Group LLC, and Petrofac Emirates LLC. Each of these companies have been overviewed for their main services, history, key employees, competitors, and recent strategic developments.
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