United Arab Emirates (UAE) Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2023-2027
United Arab Emirates (UAE) Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2023-2027
Summary
GlobalData expects UAE’s construction industry to remain strong in 2023 and 2024, with growth of 3.3% in real terms projected this year and 4% in 2024, supported by public and private sector investments in the construction of major development projects in the transportation, energy, and housing sectors, coupled with an improvement in tourism activity. High oil prices, the net zero carbon emission target, and growth in the property markets, will be key drivers for the construction industry’s growth in 2023. In August 2023, State oil giant Abu Dhabi National Oil Company's gas unit, ADNOC Gas (ADNOCGAS.AD), announced that it awarded a AED13.2 billion ($3.6 billion) contract to a joint venture between National Petroleum Construction Company Co PJSC (NPCC), owned by Abu Dhabi state fund ADQ, and Spain's Tecnicas Reunidas (TRE.MC) to expand its gas processing infrastructure in the UAE.
The UAE construction industry is expected to register annual growth of 3.9% from 2025 to 2027, supported by investments on infrastructure, renewable energy, oil and gas, housing, industrial and tourism projects. The country’s construction industry will also be supported by the federal budget of AED192 billion ($52.3 billion) from 2024-26, which was approved by the UAE’s Cabinet in October 2023. Out of the total, the federal budget for 2024 includes an allocation of AED64.4 billion ($17.5 billion), which is 1.6% more than that of 2023. Moreover, in early-November 2023, the Dubai government approved its AED79.1 billion ($21.6 billion) 2024 Budget, a 34% increase on the spending planned for 2023. Moreover, as part of the “We the UAE 2031” vision, the government aims to implement a series of developmental and economic projects to double the country’s GDP from AED1.5 trillion ($405.7 billion) in 2022 to AED3 trillion ($816.9 billion) by 2031 and increase the country’s non-oil exports from AED366 billion ($100 billion) to AED800 billion ($217.8 billion) during the same period. Over the forecast period, the growth in the construction industry will also be bolstered by the UAE government’s progressive initiatives, such as Energy Strategy 2050, the Sheikh Zayed Housing Program, and the Dubai Tourism Strategy.
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.
Scope
This report provides a comprehensive analysis of the construction industry in the UAE. It provides -
Historical (2018-2022) and forecast (2023-2027) 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
Reasons to Buy
Identify and evaluate market opportunities using GlobalData's standardized valuation and forecasting methodologies.
Assess market growth potential at a micro-level with over 600 time-series data forecasts.
Understand the latest industry and market trends.
Formulate and validate strategy using GlobalData's critical and actionable insight.
Assess business risks, including cost, regulatory and competitive pressures.
Evaluate competitive risk and success factors.
Executive Summary
Construction Industry: At-a-Glance
Table Construction Industry Key Data
Table Middle East and North Africa, Construction Output (Real % Change), 2021-27
Table The UAE, Construction Output by Sector (Real % Change), 2021-23 and 2024-27
Context
Economic Performance
Table The UAE, Key Economic Indicators
Political Environment and Policy
Demographics
Risk Profile
Table The UAE, Risk Summary
Table The UAE, Risk Regional Comparison
Construction Outlook
All Construction
Table The UAE, Construction Output Value (Real, $ Million, 2017 Prices and Exchange Rate), 2018-27
Table The UAE, Construction Output Value, by Sector (Real, $ Million), 2018-27
Table The UAE, Total Bank Credit to Construction and Real Estates (AED Million)
Table The UAE, Construction Projects Momentum Index
Table Middle East and North Africa, Construction Projects Momentum Index
Commercial Construction
Table The UAE, Commercial Construction Output by Project Type (Real, $ Million), 2018-27
Table The UAE, Commercial Construction Output by Project Type (Real % Change), 2018-27
Table The UAE, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
Table The UAE, Top Commercial Construction Projects by Value
Industrial Construction
Table The UAE, Industrial Construction Output by Project Type (Real, $ Million), 2018-27
Table The UAE, Industrial Construction Output by Project Type (Real % Change), 2018-27
Table The UAE, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
Table The UAE, Top Industrial Construction Projects by Value
Infrastructure Construction
Table The UAE, Infrastructure Construction Output by Project Type (Real, $ Million), 2018-27
Table The UAE, Infrastructure Construction Output by Project Type (Real % Change), 2018-27
Table The UAE, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Table The UAE, Top Infrastructure Construction Projects by Value
Energy and Utilities Construction
Table The UAE, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2018-27
Table The UAE, Energy and Utilities Construction Output by Project Type (Real % Change), 2018-27
Table The UAE, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
Table The UAE, Top Energy and Utilities Construction Projects by Value
Institutional Construction
Table The UAE, Institutional Construction Output by Project Type (Real, $ Million), 2018-27
Table The UAE, Institutional Construction Output by Project Type (Real % Change), 2018-27
Table The UAE, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Table The UAE, Top Institutional Construction Projects by Value
Residential Construction
Table The UAE, Residential Construction Output by Project Type (Real, $ Million), 2018-27
Table The UAE, Residential Construction Output by Project Type (Real % Change), 2018-27
Table The UAE, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Table The UAE, Top Residential Construction Projects by Value
Key Industry Participants
Contractors
Table The UAE, Key Contractors
Table The UAE, Headquarters of Key Contractors (% of Total Project Pipeline)
Consultants
Table The UAE, Key Consultants
Table The UAE, Headquarters of Key Consultants (% of Total Project Pipeline)
Construction Market Data
Table The UAE, Construction Output Value (Real, $ Million)
Table The UAE, Construction Output Value (Nominal, AED Million)