Dublin, May 22, 2023 (GLOBE NEWSWIRE) -- The "United Arab Emirates Construction Industry Databook Series - Market Size & Forecast by Value and Volume across 40+ Market Segments in Residential, Commercial, Industrial, Institutional, Infrastructure Construction and City Level Construction by Value - Q1 2023 Update" report has been added to ResearchAndMarkets.com's offering.
According to the publisher, construction industry in United Arab Emirates is expected to grow by 6.9% to reach AED 265,969 million in 2023.
Despite near-term challenges in certain construction sectors, medium to long term growth story in United Arab Emirates remains intact. The construction industry in United Arab Emirates is expected to grow steadily over the next four quarters. The growth momentum is expected to continue over the forecast period, recording a CAGR of 5.7% during 2023-2027. The construction output in the country is expected to reach AED 331,659.9 million by 2027.
The United Arab Emirates (UAE) has been leading the growth of the global construction market over the last five years. With billions of dollars spent on mega infrastructure and commercial construction projects, the Emirates is seeking to reduce its reliance on oil by becoming a major tourist destination. As a result, the investment in the construction of infrastructure and commercial projects, including resorts and hotels, is projected to grow even further in 2023.
Along with the growth in the infrastructure and commercial constructions sector, the residential construction segment has also recorded robust in 2022. With high-net-worth individuals buying luxury properties in the Emirates, the number of luxury housing projects has increased over the last 12-month and the trend is projected to further continue in 2023. This will keep supporting the growth of the overall construction industry in the United Arab Emirates over the next three to four years.
Commercial property developers are building on tourism infrastructure in the Emirates
The United Arab Emirates has experienced significant momentum in the construction of exceptional tourist destinations. With the country attracting millions of tourists, from around the world every year, commercial property developers are seeking to build on the tourism infrastructure to provide tourists with an immersive experience.
- In January 2023, Modon Properties, the UAE-based construction firm, announced the launch of its Abu Dhabi desert resort, which has been developed for families and individuals that are seeking to connect with the natural landscape. The commercial construction project involves one, two, and three-bedroom villas for tourists visiting the country. The project is in line with the plans of the government to diversify the country's income and reduce its reliance on oil.
- 2023 is also expected to mark the opening of the floating palace, Kempinski, which features a glass pyramid-topped main building. The hotel includes 150 guestrooms and suites, along with 12 luxury villas.
These projects, along with many others ongoing and in the pipeline, are expected to keep assisting the growth of the commercial construction sector in the United Arab Emirates from the short to medium-term perspective.
The Emirates has announced an investment of US$1.36 billion for the development of roadways
To keep up pace with the rapid growth achieved by the United Arab Emirates, the government has announced significant investment towards the development of roadways over the next few years.
- As part of its 10-year future development plan, the government has announced an investment of US$1.36 billion to reduce congestion in the country. Through the 10-year plan, the government aims to become a global leader in developing world-class road and transport systems. This will lead to further investment in the sector, supporting the growth of the infrastructure construction market.
The development of roadways, along with other infrastructure projects, is expected to attract billions of dollars of investment in private and public funding over the next three to four years in the Emirates.
Luxury properties will continue to grow in demand in the United Arab Emirates in 2023
The demand for luxury housing units is expected to grow even further in the Emirates over the next 12 months. The influx of foreign investors, including those moving to the country due to the ongoing war between Russia and Ukraine, is expected to keep driving the demand for such housing units. Owing to the growing demand, the publisher expects more construction developers and contractors to pick up new luxury housing construction projects from the short to medium-term perspective, thereby supporting the growth of the residential construction market.
The government is also planning to spend big on various housing projects over the next few years. As part of its US$56 billion 2023-25 budget, the United Arab Emirates has announced that it will be spending big on the residential sector to support families with limited income in the country. Along with housing, the government also announced that it plans to develop health, education, and culture sectors. These initiatives of the Emirati government will keep supporting the growth of the overall construction industry in the Emirates over the next three to four years.
This market intelligence report from the publisher provides a detailed view of market opportunities in the building and infrastructure construction industry at country level. With over 100+ KPIs, covering growth dynamics in building construction, infrastructure construction, and analysis by key cities in United Arab Emirates, this databook offering primarily provides data-centric analysis with charts and tables.
- Market Dynamics by Value, Volume, and No. of Units: Provides a comprehensive data-centric view of size and structure, industry dynamics, and end market opportunities in the building and infrastructure construction industry in United Arab Emirates.
- Residential Construction Outlook: Provides market analysis by type of construction, development stage, price point, and key cities. KPIs include value, volume and number of units.
- Commercial Construction Outlook: Provides construction outlook by value and volume across office buildings, retail buildings, hospitality buildings, restaurant buildings, and sports facilities.
- Institutional Construction Outlook: Provides construction outlook by value and volume across manufacturing plant buildings, metal & material processing buildings, chemical & pharmaceutical buildings.
- Industrial Construction Outlook: Provides construction outlook by value and volume across manufacturing plants, educational buildings.
- Infrastructure Construction Outlook: Provides growth dynamics and market analysis by three key sections such as marine and inland, utility system and transport infrastructure construction.
- City Level Analysis: Provides outlook of top 10 cities in United Arab Emirates by construction value.
Scope
- Market Data and Insights: This report provides market size and forecast across 40+ construction segments for a period of 10 years from 2018-2027 in United Arab Emirates. KPIs covered include the following:
- Market size by value
- Market size by volume of construction
- Number of units
United Arab Emirates Economic Indicators
United Arab Emirates Top Cities Construction Data
United Arab Emirates Residential Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
- Housing type (multi family, single family)
- Key cities (Tier - 1, Tier - 2, Tier - 3 segmentation)
- Price point / income level (luxury, mid-tier, affordable)
- Construction stage (new construction, re-development & maintenance)
United Arab Emirates Residential Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
- Green building by Housing type (multi family, single family)
- Green building by Key cities (Tier - 1, Tier - 2, Tier - 3 segmentation)
- Green building by Price point / income level (luxury, mid-tier, affordable)
United Arab Emirates Commercial Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
- Office (further broken down by Grade A, Grade B, and Grade C)
- Retail (further broken down by Grade A, Grade B, and Grade C)
- Hospitality (further broken down by Grade A, Grade B, and Grade C)
- Restaurant (further broken down by Grade A, Grade B, and Grade C)
- Entertainment
- Sports facility
- Construction stage (new construction, re-development & maintenance)
United Arab Emirates Commercial Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
- Office green building construction
- Retail green building construction
- Hospitality green building construction
- Restaurant green building construction
- Entertainment green building construction
- Sports facility green building construction
- Other commercial green building construction
- United Arab Emirates Industrial Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units)
United Arab Emirates Institutional Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
- Healthcare construction
- Educational construction
- Public sector
- Construction stage (new construction, re-development & maintenance)
United Arab Emirates Institutional Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
- Healthcare green building construction
- Educational green building construction
United Arab Emirates Infrastructure Construction Sectors: 10- year market size & forecast in value terms by
- Marine and inland water infrastructure
- Utility system construction (oil and gas infrastructure, communication infrastructure, power infrastructure, water and sewer infrastructure)
- Transportation infrastructure (highway, street and bridge construction, railway construction, airport construction, and tunnel construction)
- Construction stage (new construction, re-development & maintenance)
United Arab Emirates Green Infrastructure Construction: 10- year market size & forecast in value terms
Reasons to Buy
- In-depth Understanding of Construction Market Dynamics: Understand market opportunity, industry dynamics, key trends and drivers across 40+ market segments and sub-segments of building and infrastructure construction industry in United Arab Emirates.
- Top Ten Cities Construction Value Data
- Volume and Value Data: Get detailed understanding of the market both from value and volume (both by activity and units) perspective for historical as well as forecast period
- Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate your strategy; assess market specific key trends, drivers and risks in construction industry.
- City Level Insights: Get city level trend analyses by tier-1, tier-2, and tier-3 cities.
For more information about this report visit https://www.researchandmarkets.com/r/q7jkhe
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