The UAE is one of the largest and fastest growing economies in the Middle East. The country has witnessed massive investment in the construction industry from both public and private enterprises in recent years. It outpaced Saudi Arabia and became the largest construction market in the GCC region in 2008. The UAE accounted for nearly 20.3% of total construction industry in the region followed by Saudi Arabia, Algeria and Egypt. Despite the sluggish growth in 2009 amidst the global financial distress, the construction industry managed to record strong growth during 2007-2009 and contributed approx. 8% to the country’s GDP in 2009.
According to our new research report “UAE Construction Industry Outlook to 2012”, the UAE construction industry is expected to grow at a CAGR of around 20% during 2010-2013. Rapid economic development is the major factor driving construction activities and infrastructure development in the UAE. The country has drawn investments from all around the world. Most of the investments are mainly focused on the development of infrastructure for tourism, hospitality, retail and healthcare industry. Moreover, the government efforts to diversify its economy from oil-based to other industries will boost infrastructure investments in future.
Despite the global economic slowdown, the UAE will continue to develop several projects in tourism, housing, industrial and commercial facilities, education and healthcare amenities, transportation, communications, utilities, ports and airports.
The report has analyzed all emerging trends including the important drivers and key challenges confronted by the industry. It has also identified what could be the possible growth areas for expansion and gives a broad overview of competitive landscape in the UAE infrastructure industry. The report presents a complete and coherent analysis of the performance of UAE construction industry.
In addition, the report has given the industry forecast based on correlation of past drivers, challenges and opportunities for expansion. In this way, the report gives an unbiased market picture that will prove decisive for clients.
