Albany, New York, March 02, 2017: Market Research Hub has recently announced the addition of a new report to it broad database titled as “Construction in the UAE Key Trends and Opportunities to 2021”. In real terms, the UAE construction industry posted positive growth during the review period (20122016). Construction activity experienced a slight slowdown during 2015, owing to the impact of low oil prices. In addition, economic slowdown in China weighed on the UAEs economic performance.
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Despite modest economic growth, the countrys construction industry registered positive growth during the review period, driven by the governments investments in transport, residential and commercial infrastructure projects.
The industry is expected to expand over the forecast period (20172021), driven by positive developments in regional economic conditions and subsequent improvements in investor confidence. Moreover, the governments various large-scale investments in transport and commercial infrastructure projects on the back of the upcoming World Expo 2020 will be a major driver for the industrys growth over the forecast period.
The industrys output value in real terms increased at a compound annual growth rate (CAGR) of 4.38% during the review period, and is expected to post a CAGR of 4.68% over the forecast period
The governments plans to diversify from an oil-dependent economy, while focusing on growth in non-oil sectors, are expected to drive investment in the construction industry over the forecast period.
Timetrics ‘Construction in the UAE, Key Trends and Opportunities to 2021′ 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
Analysis of equipment, material and service costs for each project type in the UAE
Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the UAE construction industry
Profiles of the leading operators in the UAE construction industry
Data highlights of the largest construction projects in the UAE
This report provides a comprehensive analysis of the construction industry in the UAE. It provides:
Historical (2012-2016) and forecast (2017-2021) valuations of the construction industry in the UAE using construction output and value-add methods
Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by project type
Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)
Analysis of key construction industry issues, including regulation, cost management, funding and pricing
Detailed profiles of the leading construction companies in the UAE
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In a bid to represent Dubai as a global hub for renewable energy, in November 2015 the government launched the Dubai Clean Energy Strategy 2050. Under this strategy, the government announced its plans to invest AED100.0 billion (US$27.2 billion) in a green fund so as to encourage investments in renewable energy projects.
On account of hosting the World Expo in 2020, the Dubai government is making significant investments to develop Expo-related infrastructure. Accordingly, in 2015, the government announced its plans to invest over AED32.0 billion (US$8.7 billion) to construct the Expo site on a 4.3 million m2 area, as well as other related infrastructural facilities in the Dubai South district.
In September 2016, Dubai Holding launched the Jumeirah Central project, which involves the development of a new city district across 4.4 million m2 of gross floor area in Dubai. With a total investment of AED73.0 billion (US$19.9 billion) the project includes the construction of over 278 buildings, consisting of 11,000 housing units, retail units spread across an 845,417.6 m2 area, office facilities across a 743,224.3 m2 area and 7,200 hotel rooms.
Chemaweyaat, the National Chemicals Company of Abu Dhabi, is developing a large-scale project called the Tacaamol-Al Gharbia Chemical Industrial City in Taweelah, Al Gharbia. This project involves a total investment of AED73.5 billion (US$20.0 billion), and is expected to be implemented in three phases.
According to the World Economic Forums Global Competitiveness Report 20162017, the UAE ranks fourth out of 138 countries, in terms of the quality of overall infrastructure. Moreover, the country retained its leading position secured in the previous year, in terms of the quality of road, air and port transport infrastructure.
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