Market Research Report
Construction in the United Arab Emirates (UAE) - Key Trends and Opportunities to 2025 (Q3 2021)
|Construction in the United Arab Emirates (UAE) - Key Trends and Opportunities to 2025 (Q3 2021)|
Published: August 31, 2021
Content info: 47 Pages
Delivery time: 1-2 business days
After recording a contraction of 10.4% in 2020, GlobalData expects the construction industry to rebound this year, growing by 4.4%, and then register an annual average growth of 3.9% between 2022 and 2025. The hosting of upcoming Expo 2020 (1 October 2021-31 March 2022) has provided some positive support to the industry, while low base effects and pent-up demand will help to generate positive growth when compared to levels of 2020.
Although a decline in contract awards presents downside risks in the short term, the long-term outlook is relatively 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 - particularly related to the joint strategy to boost co-operation in the energy sector.
An investment of AED22 billion (US$6 billion) from the emirate's Department of Culture and Tourism (DCT) will help to stimulate activity in the commercial sector, while with AED40 billion (US$11 billion), Etihad Rail, the national railway network developer and operator, is developing the Etihad Rail Network project to connect the seven emirates of the UAE by 2024. Furthermore, ADNOC (Abu Dhabi National Oil Company) plans to invest AED448 billion (US$122 billion) in capital expenditure in 2021-2025, in order to increase oil production capacity from four million barrels/day (b/d) in 2020 to five million b/d by 2030.
GlobalData's Construction in the UAE - Key Trends and Opportunities to 2025 (Q3 2021) report provides detailed market analysis, information and insights into the UAE construction industry, including -
This report provides a comprehensive analysis of the construction industry in the UAE. It provides -