UAE Construction Industry Set for Robust Growth

The UAE is one of the largest and fastest developing economies in the world. As per our new research report “UAE Construction Industry Outlook to 2012”, the UAE represented one of the largest construction markets in the GCC during 2008. Despite the recessionary condition, the industry showed great resilience and contributed around 8% to the country’s GDP. The UAE construction industry is expected to grow at a CAGR of around 20% during 2010-2013.

 

Growth in the UAE construction industry is accredited to the rapid economic and infrastructural development. The country has drawn investment from all around the world. Most of the investments are mainly focused on the development of infrastructure for tourism, hospitality, retail and healthcare industry. Government’s commitment to shift its dependence from oil wealth to other sectors has attracted foreign investments in the country. This shift in government’s approach has resulted in significant development of infrastructure and initiation of construction activities.

 

With a large amount of investment, infrastructure development has emerged as the third largest sector of the UAE economy after Oil and Trade. The level of construction spending per capita is second only to Japan. In addition, the increasing number of projects in the country both public and private has been fuelling growth in the UAE construction industry. Dubai became the first emirate to offer “freehold property” to foreign investors, a move that gave clear distinction to the UAE as an international property investment hub and fillip residential and commercial real estate developments.

 

“UAE Construction Industry Outlook to 2012” has analyzed all emerging trends, including 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 of the UAE infrastructure industry. The report presents a complete and coherent analysis of the performance of the UAE construction industry.

 

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.

For more information visit: http://www.rncos.com/Report/IM183.htm