Despite the recent turbulence in global markets, The UAE continues to exemplify resilience and dedication. With over US$500 billion worth of active and ongoing construction projects still underway despite external pressures, it's clear that Dubai is determined to maintain its economic progression for years to come - resulting ultimately in a welcome bounce back into full operation.
Steady growth is forecasted for the construction sector in the UAE over 2023-2026, with a predicted CAGR of more than 3%. It's anticipated that total contracts awarded will reach an estimated US$ 24.2 billion next year, and building projects are set to be at their peak worth $10.3bn; followed by those from oil and gas (US$ 5.25bn) and power and water ($4¬064mn).
Worth of Projects
Construction Companies tracked
Awarded Contracts last year
The UAE is enjoying a moderate growth in terms of activity, productivity and overall economy with current projects valued at an impressive $860 billion. This is further complemented by the new citizenship laws allowing foreigners to be eligible for permanent residency under certain conditions – setting up a promising future not only within the country but also on global markets as stakeholders benefit from this accelerated development.
The construction sector in the UAE is soaring to success, demonstrated by recent announcements of investment into new projects such as Agri Hub by URB and Burj Binghatti. Furthermore, Urban Tech District aims to establish a "smart city" model for business development within the country. With these initiatives set firmly in place, UAE looks poised for substantial growth moving forward!
Ventures ONSITE’s comprehensive database offers an array of information regarding construction projects in the UAE. Our digital library provides pertinent details that can guide users to assess project statuses, determine those involved with developments and estimated dates for completion.
Boasting profiles on a wide range of industries from oil & gas to infrastructure, our platform helps contractors and project managers acquire up-to-date insights into potential ventures without having to leave their current location or region.