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UAE Construction Industry June 2013

May 2013 | 56 pages | ID: U92C6C4245AEN
Ventures Middle East LLC

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Description

One of the most tracked construction industries in the world as also a pioneer in the adoption of state of the art technologies and introduction of sustainable and green building and energy initiatives, the United Arab Emirates (UAE), the confederation of seven Emirates in the Gulf region is also one of the strongest economies in the Gulf Cooperation Council (GCC). It is not only backed by a strong hydrocarbon base controlling about one third’s of the world’s supply of hydrocarbons, but a leading destination for tourists and retailers owing to its large affluent population that comprise 80 percent expatriates that sustain demand and also attract investments from across the world into its construction sector. UAE has been through a turbulent economic cycle which began with a meltdown in the property and financial markets in 2008 vast erosion of property values and economic growth thereafter in late 2009, the effects of which took the entire 2010 and 2011 for the economy to recover from.

The government of UAE along with individual Emirates went on an extensive diversification and spending programme not only to combat the slowdown but also to build up the economy, tighten regulations to restore investor confidence, shattered by the property and financial market crash that eroded nearly 60 percent of the property values across the Emirates, and to build up a much needed industrial and infrastructure base to support the needs of a growing, affluent population. A Real Estate Regulatory Authority (RERA) was set up to review all projects that had been sanctioned across all stages of construction thoroughly before filtering those that met new stringent standards of financial and quality control as also sustainability.

Massive investments were also made by the government across the infrastructure and social sectors such as low and middle income housing, education, healthcare and strong efforts at Emiratization aimed at improving employment prospects for local Emiratis and build sustainable skills from within. Though the UAE economy was one of the worst hit amid the slowdown, it has also regained much of its past glory, replacing its past unhindered expansion with a more cautious and controlled approach, with each of the Emirates competing also among themselves in a healthy manner to attract foreign investment and tourism, and are being perceived as a safe haven by international investors in 2012 and 2013.

UAE’s construction sector appears set to return to near-full capacity, with the government announcing it is reactivating a number of major development projects and stepping up spending on social infrastructure development. While the Abu Dhabi and Dubai governments led the revival in 2012, the early quarters proved sluggish with the pace gradually picking up by the last quarter of 2012 with much needed energy and infrastructure projects and the thrust provided to tourism as a result of infrastructure upgrades, especially airports, ports and roadways. A number of formerly stalled projects of 2010 raced towards completion in 2012 or continued their pace unabated into 2013.

The UAE Government is determined to help the economy achieve the leading spot in the GCC construction industry in close competion with economies such as Saudi Arabia and Qatar that have also undergone a steady growth through similar diversification and investment programs. Its rapidly growing, and fast urbanizing, young population constantly fuel demand across the real estate, infrastructure and utilities segments of the market. While being the region’s hub for tourism activities, the country also attracts large tourism revenues further fuelling demand in the tourism and leisure segments. Recently, in an effort to emulate the Qatar model of growth by organizing world renowned events, the UAE has bid to host the World Expo 2020 in Dubai with the aim of attracting visitors and collaborators worldwide and boost domestic construction, tourism and industry in the bargain. If Dubai wins the bid to host the event, the surrounding activity is expected to provide a fillip to its construction industry on a parallel to that gained by Qatar in hosting the World Cup 2022 event. The construction industry of UAE witnessed construction contract awards to the tune of US$ 23,275 million in 2012, which is expected to increase to US$ 37,314 million by 2013 and thereafter moderate to US$ 35,456 million by 2014.

The UAE Construction Industry Overview – June 2013 is a study by Ventures Middle East based on its vast experience of the GCC construction market and its extensive projects database across the countries of the Middle East and North Africa (MENA) region. It provides a strategic insight into the various political, economic, social, technical, legislative and environmental factors impacting this promising market. Besides an analysis into the market drivers and restraints culminating in a probability impact matrix of the occurrence of these drivers and restraints on the construction market, the study also provides key statistics of the construction contract awards across the various sectors of the UAE construction market namely, buildings, oil and gas, power and water, industrial and infrastructure.

Key statistics also include market size and forecasts of UAE construction contract awards in the key segments of construction market of United Arab Emirates. The study also provides description of the sector-wise ongoing construction projects in addition to the proposed new projects thereby serving as a wealth of information for all key stakeholders of construction sector vying to enter this market.
UAE Construction Industry June 2013
Executive Summary
Chapter1. Strategic Overview of UAE Construction industry 2013
The UAE Construction Industry in 2013
Political
Economic
Social and Demographic
Technological
Legal and Regulatory
Environmental
Market Drivers and Restraints and Probability Impact Matrix
Market Growth Drivers
Market Growth Restraints
Construction Contract Awards for UAE Construction Industry, 2011-2014
Chapter2. UAE Oil and Gas Sector Overview
Downstream Sector
Market Size of UAE Oil and Gas Sector
Major Oil and Gas Projects in UAE
Chapter3.The UAE Power and Water Desalination Sector Overview
Industry Structure
Market Size of UAE Power and Water Desalination Sector
Construction Contract Awards For Power and Water Sector in UAE (2011 -2014)
Major Power and Water Projects in UAE
Chapter4. UAE Building Construction Sector Overview
Market Size of UAE Building Sector
Construction Contract Awards For Building Sector in UAE (2011 -2014)
Major Building Projects in UAE 39
Chapter5. UAE Industrial Sector Overview
Market Size of UAE Industrial Sector
Major Industrial Projects in UAE
Chapter6. UAE Infrastructure Sector Overview
Market Size of UAE Infrastructure Sector
Construction Contract Awards For Infrastructure Sector in UAE (2011 -2014)
Major Infrastructure Projects in UAE
Chapter7. Future Outlook for the UAE Construction Industry
Methodology
Code of Ethics
Ventures Onsite MENA Projects Database

LIST OF FIGURES

Figure 1: PESTLE Analysis - UAE Construction industry
Figure 2: UAE Construction Industry Budget Totals by Sector (US$ Million), May 2013
Figure 3: UAE Total Construction Contractor Awards across Major Sectors (US$ Million), 2011-2014
Figure 4: Organization of the UAE Hydrocarbons Industry
Figure 5: UAE Oil and Gas Sector Construction Contractor Awards (US$ Million), 2011 -2014
Figure 6: Opportunities and Challenges in UAE Oil and Gas Sector
Figure 7: UAE Power and Water Structure
Figure 8: UAE Power and Water Sector Construction Contractor Awards (US$ Million), 2011 -2014
Figure 9: Opportunities and Challenges in UAE Power and Water Sector 31
Figure 10: UAE Building Sector Construction Contractor Awards (US$ Million), 2011 -2014
Figure 11: Opportunities and Challenges in UAE Buildings Sector
Figure 12: UAE Industrial Sector Construction Contractor Awards (US$ Million), 2011 -2014
Figure 13: Opportunities and Challenges in UAE Industrial Sector
Figure 14: UAE Infrastructure Sector Construction Contractor Awards (US$ Million), 2011 -2014
Figure 15: Opportunities and Challenges in UAE Infrastructure Sector

LIST OF TABLES

Table 1: UAE Economic Indicators, (2012)
Table 2: Major Oil and Gas Projects in the UAE by Project Value (US$ Million), June 2013
Table 3: Major Power and Water Projects in the UAE by Project Value (US$ Million), June 2013
Table 4: Major Building Projects in the UAE by Project Value (US$ Million), June 2013
Table 5: Major Industrial Projects in the UAE by Project Value (US$ Million), June 2013
Table 6: Major Infrastructure Projects in the UAE by Project Value (US$ Million), June 2013


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