DUBLIN, December 08, 2021--(BUSINESS WIRE)--The "Construction in the United Arab Emirates (UAE) - Key Trends and Opportunities to 2025 (Q4 2021)" report has been added to ResearchAndMarkets.com's offering.
The growth forecast for 2021 for UAE has been maintained, with the construction industry expected to expand by 4.4% in real terms this year, before registering an annual average growth of 3.9% from 2022 to 2025.
The hosting of the ongoing Expo 2020 event (1st October, 2021-31st March, 2022) will provide positive support to the economy, while low base effects and pent-up demand will help to generate positive growth when compared to the levels of 2020.
The UAE cabinet approved the AED290 billion (US$79 billion) budget for 2022-2026 in October 2021. It also approved the AED58.9 billion (US$16 billion) general budget for 2022, with a focus on improving infrastructure, along with social care, health and educational services. The budget includes an allocation of AED980.5 million (US$267 million) for federal projects, of which AED751.5 million (US$204.6 million) is allocated for energy and infrastructure projects.
In October 2021, the UAE became the first country in the Gulf Cooperation Council (GCC) region to commit to carbon neutrality, with the country announcing a target to cut carbon emissions to net zero by 2050. To achieve this target, the government plans to invest AED600 billion (US$163.4 billion) on renewable energy over the next three decades.
In addition to this, the industry's forecast-period growth will also be supported by government initiatives such as the Sheikh Zayed Housing Programme and the Dubai Tourism Strategy. In October 2021, the government announced that over 11,000 new residential units are currently being constructed across the country as part of the Sheikh Zayed Housing Programme. Over the long term, the residential sector's output will be supported by the government's plan to invest AED65 billion (US$17.7 billion) on the Emirati housing programme in Dubai over the next 20 years.
The industry's output over the forecast period will also be driven by the government's focus on improving the country's business environment, and supporting the industrial, manufacturing and export sectors. In September 2021, it announced the 'Projects of the 50' plan, which includes a series of developmental and economic initiatives aimed at diversifying the oil-dependent economy, boosting the country's economic competitiveness, and establishing it as an ideal destination for talented workforce and investors. Some of the initiatives announced as part of this initiative includes economic agreements with eight global markets, the Fourth Industrial Revolution Network (Industry 4.0), and the 10x10 program to increase the country's annual exports. As part of the 'Projects of the 50' plan, the government also aims to attract AED550 billion (US$149.8 billion) in foreign direct investment (FDI) over the next nine years.
The 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
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 (2016-2020) and forecast (2021-2025) 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 Topics Covered:
1 Executive Summary
2 Construction Industry: At-a-Glance
3.1 Economic Performance
3.2 Political Environment and Policy
3.4 COVID-19 Status
3.5 Risk Profile
4 Construction Outlook
4.1 All Construction
4.2 Commercial Construction
4.3 Industrial Construction
4.4 Infrastructure Construction
4.5 Energy and Utilities Construction
4.6 Institutional Construction
4.7 Residential Construction
5 Key Industry Participants
6 Construction Market Data
For more information about this report visit https://www.researchandmarkets.com/r/3kpry0
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