DUBLIN, June 25, 2021--(BUSINESS WIRE)--The "Construction in the United Arab Emirates (UAE) - Key Trends and Opportunities to 2025 (Q2 2021)" report has been added to ResearchAndMarkets.com's offering.
The UAE's construction sector declined by an estimated 4.8% in real terms in 2020, due to the COVID-19 outbreak and low global oil demand. The publisher maintains its expectation that the construction industry will rebound in 2021, and record growth of 3.1%. The postponement of Expo 2020 increasingly looks like a boon that will allow Dubai to ride a wave of post-COVID-19 enthusiasm for new business opportunities in the short term. Thereafter, the industry is expected to expand at an annual average of 3.8% between 2022 and 2025. The approval of a new Dubai Building Code in October 2020 is a positive development; the new code outlines a revised set of construction rules and standards and seeks to reduce construction costs by streamlining building rules.
As part of its economic support program, in July 2020 the government announced a new package worth AED1.5 billion (US$408 million), including the cancellation of certain fines imposed by the government and the customs department, tax reimbursements to hotels and restaurants, and providing various banking facilities to individuals and corporates. In October 2020, the government announced an additional AED500 million (US$136.1 million) of a stimulus package to support the local economy, and then a further AED315 million (US$85.8 million) in early January 2021.
The medium-term outlook still looks promising, as the government continues with its infrastructure plans, given various government initiatives such as the Energy Strategy 2050, the Sheikh Zayed Housing Programme and the Dubai Tourism Strategy. Infrastructure projects are a key part of the UAE's economic expansion, as it seeks to build efficient transport and logistics networks as well, as reliable supplies of clean energy. Furthermore, Israel and the UAE have reached a historic deal to normalize ties opening up investment opportunities, where the countries agreed to develop a joint strategy to boost co-operation in the energy sector.
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/mylv32
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