UAE Construction Market Forecasts (2024-2028) -Find Best Opportunities
The construction scene in the UAE is about to hit overdrive.
According to the latest forecasts, this dynamic industry is going to be expanded by a solid 4% in 2024 and an impressive 4.2% in 2025….. yes, you read it right.
And, you know what are the things fueling this growth? Well, it’s all because of infrastructure, energy and utilities and residential projects galore!
The UAE government’s latest budget depicts this – a whopping AED64.1 billion (that’s a cool $17.5 billion) approved for 2024 alone.
And, there is this game-changer – i.e. public-private partnerships (PPPs). If we specifically talk about December 2023, Dubai’s Roads & Transport Authority (RTA) gave the green light to ten projects – yes total 10 projects worth a staggering AED2.5 billion under the PPP scheme for 2024-26. That is some serious collaboration between the public and private sectors! You see…
The UAE construction industry doesn’t just stop there. Over the next few years, specifically from 2026 to 2028, the UAE’s construction industry is expected to maintain an impressive annual average growth rate of 3.8%. So, it’s a perfect time for investments in transport, renewable energy, housing and tourism projects.
Another outlook – the “Strategic Plan 2023-2030” – well, this is also set to be a game-changer for the construction industry. How? See, this ambitious plan has five objectives. Now, one major goal is facilitating the development of roads and transport systems. And, another one of these 5 objectives is expediting the migration to zero-emission mobility by 2050. So, we hope it helps you imagine a sustainable future…. right?
Some of the Key Construction Projects in the UAE in 2024
The UAE is gearing up for some game-changing construction projects in 2024.
Leading the pack is the highly-anticipated Dubai Creek Tower – this is set to redefine the city’s iconic skyline. But that’s not all…. there’s Ciel Tower, an ambitious concept vying to become the world’s tallest hotel.
Luxury living is also getting a major upgrade – and there is Palm Jebel Ali development, while Dubai Reefs and Surf Abu Dhabi bring sustainable and leisure-focused living to the forefront.
And, in late February 2024 saw Dubai Electricity and Water Authority (DEWA) and Abu Dhabi Future Energy Company (Masdar) announce the financial green light for the 1.8GW sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park….. a remarkable AED5.5 billion ($1.5 billion) project – you see… this is set to boost Dubai’s solar production prowess big time.
These are some of the groundbreaking projects that are solidifying the UAE’s reputation as a global infrastructure giant. And, with that, the possibilities to invest in UAE construction projects are now endless!
Final Words
So, It’s pretty much clear to you how the UAE construction market is booming and now is your chance to cash in big!
PROJECT INTEL Lead generation portal is your all-access pass to finding the biggest opportunities this booming sector has to offer.
Our one-stop portal gives you the full 360 on construction industry analysis – like from comprehensive data breakdowns to expert insights – all these to keep you streets ahead. We track every move across the GCC construction scene and feed that intel straight to your sales team as piping hot leads.
Whether you’re a consultant, contractor, supplier or service professional firm, we’ve got tailored solutions to skyrocket your business. Tap into our enormous database with 15,000+ key decision-maker contacts and details on 8,000 major regional projects.
Using our portal, you will be able to understand key market issues, assess competitors’ performance, source key information on suppliers, top contractors and partnership opportunities, gain insight on risk and be prepared, win new business ahead of your rivals and many more!
Visit our official website today! Book a free trial now!