UAE Construction Market Size and Forecasts 2024-2028: Annual Average Growth of 3.8% Forecast During 2026-2028, Supported by Investments in Transport, Renewable Energy, Housing and Tourism Projects
DUBLIN, March 26, 2024 /PRNewswire/ -- The "UAE Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028" report has been added to ResearchAndMarkets.com's offering.
UAE's construction industry is forecast to expand by 4% in real terms in 2024 and 4.2% in 2025, supported by developments in infrastructure, energy and utilities and residential construction projects. The government's investment under the latest budget is also expected to support growth.
In October 2023, the UAE government approved a AED64.1 billion ($17.5 billion) budget for 2024, an increase of 1.6% compared with the previous budget. Moreover, investment through public-private partnership (PPP) is expected to support the construction industry's output. In December 2023, Dubai's Roads & Transport Authority (RTA) approved a total of ten projects worth AED2.5 billion ($680 million) under the PPP scheme for 2024-26.
Over the remainder of the forecast period, the UAE's construction industry is expected to register an annual average growth of 3.8% from 2026 to 2028, supported by investments on transport, renewable energy, housing, and tourism projects. In January 2024, RTA prequalified six consortiums to bid for the contract to design and construct Dubai Metro's new Blue Line. Moreover, investment under the "Strategic Plan 2023-2030" will support the industry's output over the forecast period. The strategic plan is based on five objectives to facilitate the development of roads and transport systems, along with focusing on expediting the migration to zero-emission mobility by 2050.
The report provides detailed market analysis, information and insights into the UAE's 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's 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
Key highlights:
- Identify and evaluate market opportunities using the 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 the critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
For more information about this report visit https://www.researchandmarkets.com/r/dgfymt
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