UAE Building Construction Industry-Rising to New Challenges
Home to one of the world’s most popular shopping and tourist destinations and also one of the world’s largest and technologically advanced construction industries, the United Arab Emirates (UAE) also witnessed one of the steepest slowdowns owing to the global economic crisis.
While the building construction industry was the worst hit on account of its multiple exposure from all segments such as commercial, residential, tourism and leisure and retail and others such as airports and social infrastructure, all of which were equally hit by the impact of the global economic slowdown. While the UAE economy is similar to its counterparts of the GCC in terms of its oil reserves, since the discovery of oil 30 years ago, it has also been one of the most open among them in terms of property ownership and lack of taxes and duties. However, its openness has also made it the most vulnerable among the Gulf Cooperation Council (GCC) countries to the global economic slowdown and external fluctuation. Nevertheless, the economy has made a strong effort to recover from the aftermath of the crisis and these efforts are likely to reap rich dividends with analysts estimating the economy to grow at a stronger rate than the IMF forecast 1.3 percent in 2010.
Ventures Middle East with its vast experience on up to date tracking of projects across industries and countries in the Middle East has aimed to explore the main areas of growth in the UAE building construction market and the prime forces driving the growth of this market while trying to enumerate and outline the main restraints to the growth of the market over the coming years.
The UAE Building Construction Industry is expected to witness contract awards worth an estimated US$ 27,216 million in 2010 and US$ 25,127 million in actual building construction spending in the corresponding period. The Ventures UAE Building Construction Industry- Rising to Meet New Challenges (November 2010) report analyzes all the subsectors within the building construction sector such as retail, commercial, residential, tourism and leisure and others (includes educational institutions, hospitals, airports and other miscellaneous projects) in detail as to their growth and prospects in the current economic scenario and their future up to 2012.
Key Highlights of the study includes a probability impact matrix of the drivers and restraints to the growth of the building construction industry, besides providing detailed and vital statistics on the contracts awarded and the construction spend across all the segments of the building construction market that comprise the largest areas of activity in the industry, namely, residential, commercial, mixed use, retail, tourism and leisure and others and the top projects in the country in these major sectors and an overview of the main political, social, economic, technological, legal and environmental factors shaping the growth of the industry in the UAE.
This study provides a comprehensive understanding of the complete market dynamics of the UAE Building Construction Industry to assist players interested in assessing the market opportunities in this dynamic market.
While the building construction industry was the worst hit on account of its multiple exposure from all segments such as commercial, residential, tourism and leisure and retail and others such as airports and social infrastructure, all of which were equally hit by the impact of the global economic slowdown. While the UAE economy is similar to its counterparts of the GCC in terms of its oil reserves, since the discovery of oil 30 years ago, it has also been one of the most open among them in terms of property ownership and lack of taxes and duties. However, its openness has also made it the most vulnerable among the Gulf Cooperation Council (GCC) countries to the global economic slowdown and external fluctuation. Nevertheless, the economy has made a strong effort to recover from the aftermath of the crisis and these efforts are likely to reap rich dividends with analysts estimating the economy to grow at a stronger rate than the IMF forecast 1.3 percent in 2010.
Ventures Middle East with its vast experience on up to date tracking of projects across industries and countries in the Middle East has aimed to explore the main areas of growth in the UAE building construction market and the prime forces driving the growth of this market while trying to enumerate and outline the main restraints to the growth of the market over the coming years.
The UAE Building Construction Industry is expected to witness contract awards worth an estimated US$ 27,216 million in 2010 and US$ 25,127 million in actual building construction spending in the corresponding period. The Ventures UAE Building Construction Industry- Rising to Meet New Challenges (November 2010) report analyzes all the subsectors within the building construction sector such as retail, commercial, residential, tourism and leisure and others (includes educational institutions, hospitals, airports and other miscellaneous projects) in detail as to their growth and prospects in the current economic scenario and their future up to 2012.
Key Highlights of the study includes a probability impact matrix of the drivers and restraints to the growth of the building construction industry, besides providing detailed and vital statistics on the contracts awarded and the construction spend across all the segments of the building construction market that comprise the largest areas of activity in the industry, namely, residential, commercial, mixed use, retail, tourism and leisure and others and the top projects in the country in these major sectors and an overview of the main political, social, economic, technological, legal and environmental factors shaping the growth of the industry in the UAE.
This study provides a comprehensive understanding of the complete market dynamics of the UAE Building Construction Industry to assist players interested in assessing the market opportunities in this dynamic market.
CHAPTER 1. EXECUTIVE SUMMARY
CHAPTER 2. THE UNITED ARAB EMIRATES (UAE) BUILDING CONSTRUCTION INDUSTRY 2010
Market Drivers and Restraints and Probability Impact Matrix
Market Growth Drivers
Market Growth Restraints
CHAPTER 3. UAE BUILDING CONSTRUCTION MARKET - CONTRACT AWARDS AND CONSTRUCTION SPEND
Retail Segment Building Construction market
Residential Segment- Building Construction market
Commercial Segment Building Construction market
UAE Mixed use Segment Construction market
Tourism and Leisure Segment- building Construction market
Others (Includes Airports, Educational Institutions, Hospitals and other Miscellaneous Projects) Segment
CHAPTER 4. TOP CLIENTS, CONSULTANTS AND CONTRACTORS ACROSS THE UAE BUILDING CONSTRUCTION INDUSTRY
Top Clients
Top Consultants
Top Contractors
CHAPTER 5. FUTURE OUTLOOK FOR THE UAE CONSTRUCTION INDUSTRY
Methodology
Code of Ethics
Ventures Onsite MENA Projects Database
CHAPTER 2. THE UNITED ARAB EMIRATES (UAE) BUILDING CONSTRUCTION INDUSTRY 2010
Market Drivers and Restraints and Probability Impact Matrix
Market Growth Drivers
Market Growth Restraints
CHAPTER 3. UAE BUILDING CONSTRUCTION MARKET - CONTRACT AWARDS AND CONSTRUCTION SPEND
Retail Segment Building Construction market
Residential Segment- Building Construction market
Commercial Segment Building Construction market
UAE Mixed use Segment Construction market
Tourism and Leisure Segment- building Construction market
Others (Includes Airports, Educational Institutions, Hospitals and other Miscellaneous Projects) Segment
CHAPTER 4. TOP CLIENTS, CONSULTANTS AND CONTRACTORS ACROSS THE UAE BUILDING CONSTRUCTION INDUSTRY
Top Clients
Top Consultants
Top Contractors
CHAPTER 5. FUTURE OUTLOOK FOR THE UAE CONSTRUCTION INDUSTRY
Methodology
Code of Ethics
Ventures Onsite MENA Projects Database
LIST OF FIGURES
Figure 1: United Arab Emirates (UAE) map including the Seven Emirates
Figure 2: UAE Construction Industry Budget Totals by Sector (US$ Million), October 2010
Figure 3: UAE Total Building Contract Awards across Major Sectors (US$ million), 2008-2012
Figure 4: UAE Total Building Construction Spend across Major Sectors (US$ million), 2008-2012
Figure 5: UAE Building Construction Spend by Major Sectors, 2009
Figure 6: UAE Building Construction Spend by Major Sectors, 2012
Figure 7: Retail Segment Contract Awards (US$ Million), 2008-2012
Figure 8: Retail Segment -Building Construction Spend (US$ Million), 2008-2012
Figure 9: Residential Segment Contract Awards (US$ Million), 2008-2012
Figure 10: Residential Segment Construction Spend (US$ Million), 2008-2012
Figure 11: Commercial Segment Contract Awards (US$ Million), 2008-2012
Figure 12: Commercial Segment Construction Spend (US$ Million), 2008-2012
Figure 13: UAE Mixed Use Developments Contract Awards (US$ Million), 2008-2012
Figure 14: UAE Mixed Use Developments Construction Spend (US$ Million), 2008-2012
Figure 15: UAE Tourism and Leisure Segment Contract Awards (US$ Million), 2008-2012
Figure 16: UAE Tourism and Leisure Segment Construction Spend (US$ Million), 2008-2012
Figure 17: UAE Others (incl. Airports, Educational Institutions, Hospitals and Miscellaneous Projects) Contract Awards (US$ Million), 2008-2012
Figure 18: UAE Others (incl. Airports, Educational Institutions, Hospitals and Miscellaneous Projects) Segment Construction Spend (US$ Million), 2008-2012
Figure 1: United Arab Emirates (UAE) map including the Seven Emirates
Figure 2: UAE Construction Industry Budget Totals by Sector (US$ Million), October 2010
Figure 3: UAE Total Building Contract Awards across Major Sectors (US$ million), 2008-2012
Figure 4: UAE Total Building Construction Spend across Major Sectors (US$ million), 2008-2012
Figure 5: UAE Building Construction Spend by Major Sectors, 2009
Figure 6: UAE Building Construction Spend by Major Sectors, 2012
Figure 7: Retail Segment Contract Awards (US$ Million), 2008-2012
Figure 8: Retail Segment -Building Construction Spend (US$ Million), 2008-2012
Figure 9: Residential Segment Contract Awards (US$ Million), 2008-2012
Figure 10: Residential Segment Construction Spend (US$ Million), 2008-2012
Figure 11: Commercial Segment Contract Awards (US$ Million), 2008-2012
Figure 12: Commercial Segment Construction Spend (US$ Million), 2008-2012
Figure 13: UAE Mixed Use Developments Contract Awards (US$ Million), 2008-2012
Figure 14: UAE Mixed Use Developments Construction Spend (US$ Million), 2008-2012
Figure 15: UAE Tourism and Leisure Segment Contract Awards (US$ Million), 2008-2012
Figure 16: UAE Tourism and Leisure Segment Construction Spend (US$ Million), 2008-2012
Figure 17: UAE Others (incl. Airports, Educational Institutions, Hospitals and Miscellaneous Projects) Contract Awards (US$ Million), 2008-2012
Figure 18: UAE Others (incl. Airports, Educational Institutions, Hospitals and Miscellaneous Projects) Segment Construction Spend (US$ Million), 2008-2012
LIST OF TABLES
Table 1: Top Ongoing Projects in the Retail Segment (US$ Million), October 2010
Table 2: Top 5 Ongoing Residential Projects in the Residential Segment, October 2010
Table 3: Top Ongoing Projects in the Commercial Segment by Project Value, October 2010
Table 4: UAE Top Ongoing Projects in Mixed Use Segment by Value, October 2010
Table 5: UAE Top Ongoing Projects by Value in the Tourism Segment, October 2010
Table 6: Top Ongoing Projects by Value in the "Others" Segment, October 2010
Table 1: Top Ongoing Projects in the Retail Segment (US$ Million), October 2010
Table 2: Top 5 Ongoing Residential Projects in the Residential Segment, October 2010
Table 3: Top Ongoing Projects in the Commercial Segment by Project Value, October 2010
Table 4: UAE Top Ongoing Projects in Mixed Use Segment by Value, October 2010
Table 5: UAE Top Ongoing Projects by Value in the Tourism Segment, October 2010
Table 6: Top Ongoing Projects by Value in the "Others" Segment, October 2010
