The UAE Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028
Description
The UAE Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028
Summary
GlobalData expects the construction industry in the UAE to expand by 4.6% in real terms in 2024, supported by improved investments in transport, industrial, and residential construction projects. The industry’s growth in 2024 will also be supported by private sector investments in the real estate sector. The UAE-based real estate developer Emaar Properties is planning to launch 27 projects in the country by June 2024. The plan is to invest approximately AED30 billion ($8.2 billion) to develop residential and retail projects. In another boost to the industry’s output, the UAE-based private developer Samana Developers announced its plan in March 2024 to invest AED12.5 billion ($3.4 billion) in new residential projects in Dubai, in 2024.
The construction industry is expected to register an annual average growth of 3.8% from 2025 to 2028, supported by investments in transport, housing, and renewable energy projects. The government aims to have 100% clean energy production capacity by 2050, through initiatives such as Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050. In late February 2024, Dubai Electricity and Water Authority (DEWA) and Abu Dhabi Future Energy Company (Masdar) have announced financial closure of the 1.8GW sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai, with a total cost of AED5.5 billion ($1.5 billion). The solar park, which is scheduled to be completed in 2030, will have a production capacity of 5GW.
The construction industry’s growth will also be supported by the UAE government’s AED64.1 billion ($17.5 billion) budget, which was approved in October 2023. The government has allocated 4% of the total expenditure-approximately AED2.6 billion ($708 million)-to infrastructure and economic resources projects in 2024, an increase of 8.3% compared with the 2023 budget and AED10.2 billion ($2.8 billion)-to public and university education programs in 2024, up by 4.1% compared with the budget 2023.
GlobalData’s Construction in the UAE - Key Trends and Opportunities to 2028 (Q2 2024) report provides detailed market analysis, information, and insights into the UAE construction industry, including -
- The UAE's 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.
This report provides a comprehensive analysis of the construction industry in the UAE. It provides -
- Historical (2019-2023) and forecast (2024-2028) 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
- Identify and evaluate market opportunities using GlobalData'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 GlobalData's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
Table of Contents
42 Pages
- 1 Executive Summary
- 2 Construction Industry: At-a-Glance
- 3 Context
- 3.1 Economic Performance
- 3.2 Political Environment and Policy
- 3.3 Demographics
- 3.4 Risk Profile
- 4 Construction Outlook
- 4.1 All Construction
- Outlook
- Latest news and developments
- Construction Projects Momentum Index
- 4.2 Commercial Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.3 Industrial Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.4 Infrastructure Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.5 Energy and Utilities Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.6 Institutional Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.7 Residential Construction
- Outlook
- Project analytics
- Latest news and developments
- 5 Key Industry Participants
- 5.1 Contractors
- 5.2 Consultants
- 6 Construction Market Data
- 7 Appendix
- 7.1 What is this Report About?
- 7.2 Definitions
- 7.3 CRI Methodology
- 8 About GlobalData
- 9 Contact Us
- 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), 2019–28
- Table 4: The UAE, Top Commercial Construction Projects by Value
- Table 5: The UAE, Industrial Construction Output by Project Type (Real % Change), 2019–28
- Table 6: The UAE, Top Industrial Construction Projects by Value
- Table 7: The UAE, Infrastructure Construction Output by Project Type (Real % Change), 2019–28
- Table 8: The UAE, Top Infrastructure Construction Projects by Value
- Table 9: The UAE, Energy and Utilities Construction Output by Project Type (Real % Change), 2019–28
- Table 10: The UAE, Top Energy and Utilities Construction Projects by Value
- Table 11: The UAE, Institutional Construction Output by Project Type (Real % Change), 2019–28
- Table 12: The UAE, Top Institutional Construction Projects by Value
- Table 13: The UAE, Residential Construction Output by Project Type (Real % Change), 2019–28
- 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, $ 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
- LIST OF FIGURES
- Figure 1: Middle East and North Africa, Construction Output (Real % Change), 2022–28
- Figure 2: The UAE, Construction Output by Sector (Real % Change), 2022–24 and 2025–28
- Figure 3: The UAE, Risk Summary
- Figure 4: The UAE, Risk Regional Comparison
- Figure 5: The UAE, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2019–28
- Figure 6: The UAE, Construction Output Value, by Sector (Real, $ Million), 2019–28
- Figure 7: The UAE, Total Bank Credit to Construction and Real Estates (AED Million)
- Figure 8: The UAE, Construction Projects Momentum Index
- Figure 9: Middle East and North Africa, Construction Projects Momentum Index
- Figure 10: The UAE, Commercial Construction Output by Project Type (Real, $ Million), 2019–28
- Figure 11: The UAE, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 12: The UAE, Industrial Construction Output by Project Type (Real, $ Million), 2019–28
- Figure 13: The UAE, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 14: The UAE, Infrastructure Construction Output by Project Type (Real, $ Million), 2019–28
- Figure 15: The UAE, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 16: The UAE, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2019–28
- Figure 17: The UAE, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 18: The UAE, Institutional Construction Output by Project Type (Real, $ Million), 2019–28
- Figure 19: The UAE, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 20: The UAE, Residential Construction Output by Project Type (Real, $ Million), 2019–28
- Figure 21: The UAE, Residential Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 22: The UAE, Headquarters of Key Contractors (% of Total Project Pipeline)
- Figure 23: The UAE, Headquarters of Key Consultants (% of Total Project Pipeline)
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