United Arab Emirates (UAE) Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast, 2023-2027

United Arab Emirates (UAE) Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast, 2023-2027
Summary

Following an annual growth of 2% in 2022, GlobalData expects the UAE’s construction industry to expand by 3.3% in real terms this year, supported by a rebound in economic activities, coupled with government’s continued focus on infrastructure investments and investments in renewable energy sector in line with its objective to attain carbon neutrality by 2050.

The industry is expected to register average annual growth of 3.9% from 2024 to 2027, supported by investments on transport infrastructure, renewable energy, housing infrastructure, industrial and tourism projects. The country’s construction industry will be supported by the federal budget of AED252.3 billion ($68.7 billion) from 2023-26 which the UAE’s Cabinet approved in October 2022. Out of the total, the government allocated AED63.1 billion ($17.2 billion) in December 2022 to the federal budget for 2023 which is 7% more than that of 2022. Moreover, as part of the “We the UAE 2031” vision, the government aims to implement a series of projects to double the country’s GDP from AED1.5 trillion ($405.7 billion) in 2022 to AED3 trillion ($816.9 billion) by 2031 and increase the country’s non-oil exports from AED366 billion ($100 billion) to AED800 billion ($217.8 billion) during the same period.

This 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 activityCritical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the UAE’s construction industryAnalysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.Scope

This report provides a comprehensive analysis of the construction industry in the UAE. It provides -Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in UAE, featuring details of key growth drivers.Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sectorAnalysis 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 consultantsReasons to BuyIdentify 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.