The UAE Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (Q3 2024)

The Construction in the UAE - Key Trends and Opportunities to 2028 (Q3 2024) 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.

The analyst expects the UAE’s construction industry to expand by 5.6% in real terms in 2024, supported by developments in infrastructure, energy and utilities, oil and gas, and residential construction projects. In June 2024, the government approved AED30 billion ($8.2 billion) to develop Dubai's rainwater drainage network and enhance it by 700% by 2033. Additionally, in June 2024, the government pledged AED2 billion ($544.6 million) for rebuilding homes that were damaged by the floods that occurred in April 2024. The government’s investment under the latest budget is also expected to support the industry’s output in 2024. In October 2023, the UAE government approved an AED64.1 billion ($17.5 billion) budget for 2024, an increase of 1.6% compared with the previous budget.

The construction industry is expected to register an annual average growth of 3.8% from 2025 to 2028, supported by investments in transport, renewable energy, and housing projects. Growth will also be supported by the government's plans to invest AED600 billion ($163.4 billion) in energy projects until 2050. In April 2024, the government reported that it is planning to launch a tender for the development of a nuclear plant by 2025, which includes the construction of four nuclear reactors by 2032. In May local real estate developer Ark Developers announced its AED4.4 billion ($1.2 billion) SORA Beach Residences project at Al Marjan Island by 2027. Furthermore, in March 2024 the government launched the Yas Canal residential project in Al Raha Beach, which includes the construction of 1,146 villas with a cost of AED3.5 billion ($953 million) by 2027. The construction industry’s growth over the forecast period will also be supported by the government’s progressive initiatives, such as the Masdar City Development Program, the Sheikh Zayed Housing Program, and the Dubai Tourism Strategy.

Scope

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

Reasons to Buy

• Identify and evaluate market opportunities using the analyst'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 the analyst's critical and actionable insight.
• Assess business risks, including cost, regulatory and competitive pressures.
• Evaluate competitive risk and success factors.