United Arab Emirates Construction Industry Databook Series – Market Size & Forecast by Value and Volume (area and units) across 40+ Market Segments in Residential, Commercial, Industrial, Institutional and Infrastructure Construction, Q1 2022 Update

United Arab Emirates Construction Industry Databook Series – Market Size & Forecast by Value and Volume (area and units) across 40+ Market Segments in Residential, Commercial, Industrial, Institutional and Infrastructure Construction, Q1 2022 Update

Report Description

According to ConsTrack360's Q4 2021 Global Construction Survey, construction industry in United Arab Emirates is expected to grow by 6.8% to reach AED 2,45,982 million in 2022.

Despite near-term challenges in certain construction sectors, medium to long term growth story in United Arab Emirates remains intact. The construction industry in United Arab Emirates is expected to grow steadily over the next four quarters. The growth momentum is expected to continue over the forecast period, recording a CAGR of 3.9% during 2022-2026. The construction output in the country is expected to reach AED 2,86,350.5 million by 2026.

Government spending on construction activities is expected to support market growth in the UAE

Several government initiatives such as the Energy Strategy 2050, the Sheikh Zayed Housing Program, and the Dubai Tourism Strategy are expected to support the growth of the construction sector in the UAE over the next four to eight quarters. Moreover, the government is also focusing on the development of smart cities, digitization of up to 1,000 government services, and installation of 2,000 Wi-Fi hotspots in the country. The liberal trade policies of the government are also attracting foreign investors, thereby propelling the growth of the construction market in the country.

The commercial infrastructure sector is expected to assist the growth of the industry in the UAE

Over the last decade or so, the UAE has emerged as one of the most popular tourist destinations, and the country intends to keep it that way. For instance, in the commercial infrastructure space, Abu Dhabi is planning to attract almost 8 million tourists annually by 2030 under the Abu Dhabi Plan 2030.

For serving the huge inflow of tourists, the government is planning to boost investment in the commercial infrastructure space from the short to medium-term perspective. Furthermore, the country is also hoping to expand its retail and office space to four million square meters by 2030. All of these factors are expected to support the growth of the commercial infrastructure sector in the UAE in the near term.

Moreover, nearly 160 hotel construction projects with more than 45,700 rooms are in the pipeline. This will subsequently assist the overall construction industry in the next four to eight quarters in the country.

Low lending rates and improving business conditions are boosting the growth in the residential construction industry

In 2020, the residential construction market was hit by the global pandemic as job losses because of Covid-19 forced nearly 10% of the expat population to leave, resulting in an increase in vacancies last year. In Dubai, residential sales prices declined by more than 7%, whereas the number stood at 2.1% in Abu Dhabi in 2020.

However, the low lending rates and improving business conditions in 2021 have helped the country in reviving the demand for housing units. Some of the construction firms, such as Aldar Properties, have recorded strong growth in Q2 2021. The company recorded US$1.36 billion in sales in 2021, supported by new launches. Emaar Properties, one of the largest property developers in Dubai, also saw its sales surge to a record high of US$2.65 billion in Q2 2021.

Notably, the growth in the residential construction sector has been assisted by the high national vaccination rate, improving mobility trends, company ownership rules, and government reforms. All of these, paired with more flexible residency visas, have also supported the sector growth in the country. ConsTrack360 expects the trend to continue from the short to medium-term perspective, which will subsequently assist the overall growth of the construction industry in the UAE.

This report from ConsTrack360 provides data and trend analyses on construction industry in the UAE, with over 100 KPIs. This is a data-centric report and it provides trend analyses with over 140+ charts and 110+ tables. It details market size & forecast, emerging trends, market opportunities, and investment risks in over 40 segments in residential, commercial, industrial, institutional, and infrastructure construction sectors.

It provides a comprehensive understanding of construction industry sectors in both value and volume (both by activity and units) terms. The report focuses on combining industry dynamics with macro-economic scenario and changing consumer behavior to offer a 360-degree view of the opportunities and risks.

Scope
• Market Data and Insights: This report provides market size and forecast across 40+ construction segments for a period of 10 years from 2016-2025 in United Arab Emirates. KPIs covered include the following:
• Market size by value
• Market size by volume of construction
• Number of units
• United Arab Emirates Residential Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
• Housing type (multi family, single family)
• Key cities (Tier – 1, Tier – 2, Tier – 3 segmentation)
• Price point / income level (luxury, mid-tier, affordable)
• Construction stage (new construction, re-development & maintenance)
• United Arab Emirates Residential Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
• Green building by Housing type (multi family, single family)
• Green building by Key cities (Tier – 1, Tier – 2, Tier – 3 segmentation)
• Green building by Price point / income level (luxury, mid-tier, affordable)
• United Arab Emirates Commercial Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
• Office (further broken down by Grade A, Grade B, and Grade C)
• Retail (further broken down by Grade A, Grade B, and Grade C)
• Hospitality (further broken down by Grade A, Grade B, and Grade C)
• Restaurant (further broken down by Grade A, Grade B, and Grade C)
• Entertainment
• Sports facility
• Construction stage (new construction, re-development & maintenance)

• United Arab Emirates Commercial Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
• Office green building construction
• Retail green building construction
• Hospitality green building construction
• Restaurant green building construction
• Entertainment green building construction
• Sports facility green building construction
• Other commercial green building construction
• United Arab Emirates Industrial Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units)
• United Arab Emirates Institutional Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
• Healthcare construction
• Educational construction
• Public sector
• Construction stage (new construction, re-development & maintenance)
• United Arab Emirates Institutional Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
• Healthcare green building construction
• Educational green building construction
• United Arab Emirates Infrastructure Construction Sectors: 10- year market size & forecast in value terms by
• Marine and inland water infrastructure
• Utility system construction (oil and gas infrastructure, communication infrastructure, power infrastructure, water and sewer infrastructure)
• Transportation infrastructure (highway, street and bridge construction, railway construction, airport construction, and tunnel construction)
• Construction stage (new construction, re-development & maintenance)
• United Arab Emirates Green Infrastructure Construction: 10- year market size & forecast in value terms

Reasons to buy
• In-depth Understanding of Construction Market Dynamics: Understand market opportunity, industry dynamics, key trends and drivers across 40+ market segments and sub-segments of building and infrastructure construction industry in United Arab Emirates.
• Volume and Value Data: Get detailed understanding of the market both from value and volume (both by activity and units) perspective for historical as well as forecast period
• Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate your strategy; assess market specific key trends, drivers and risks in construction industry.
• City Level Insights: Get city level trend analyses by tier-1, tier-2, and tier-3 cities.