The 2015 deloitte powers of construction report included interviews with csuite personnel across the contracting industry, and the feedback provides compelling reading. A decline in project awards has impacted the construction industry first and most profoundly. Outlook for the gulf and the global economy is a white paper written by the economist intelligence unit and sponsored by the qatar financial centre qfc authority. Uae construction sector update dubais construction projects, q1 2016 the value of dubais construction projects in execution and planning stages is expected to reach a record high usd 390. Uae upcoming hotel projects, by project type, by city, as of 2016. Abc forecasts growth in nonresidential construction spending of 7. While lower oil prices pose little threat to the uae s construction industry outlook overall, we forecast real growth in 2016 of 6. The markit cips construction purchasing managers index pmi tumbled to 46 in june, down from 51. The expanding real estate, especially the construction of singlefamily dwellings and the multistoried apartments in emerging economies of asia pacific is anticipated to drive the growth.
Over the 10 years to 2017, the uaes industry sector which consists of the extraction, manufacturing, utilities and construction sectors has grown by 31% and is forecast to grow a further 34% in the next 10 years to 2027, according to. The uae will be also looking forward to dubais expo 2020, meed said. Expo 2020 forecast to continue to drive dubai construction growth. Gcc construction sector expected to recover by 2018, meed. Civil engineering market size industry analysis report, 2027. According to the data, in 2016, the construction output value of buildings amounted to 34. Global sales of 90 million in 2016 with growth of 1. The uae construction industry regained growth momentum in 2017, with output expanding by 3. According to a report by ec harris, tender prices are forecast to increase 3. Impact on the construction industry is significant the reducing volume of project awards has been a major issue affecting the. The fmi nonresidential construction index slipped just 0. Gcc construction outlook 2019 assesses the prospects for construction in the coming two years and analyses the opportunities and challenges for contractors, consultants and suppliers across the regions six markets. The markets most affected are saudi arabia, qatar and abu dhabi, while dubai, oman and bahrain have been less affected due to a greater level of economic diversification. The duration of the outbreak and its impact on global travel and.
The economist intelligence unit special reports provide executives with practical business information on macroeconomic events, country affairs and issues affecting industries. The duration of the outbreak and its impact on global travel and trade present considerable downside risk to the outlook. The outlook for construction companies in the gcc will improve in 2017, according to the latest industry research report from meed the report says that the regions strongest markets over the past 12 months were dubai, kuwait and bahrain, which saw its secondbest year for awards since 2007. The uae construction industry is the third largest industry in the country after oil and trade. Although weakness in new car and home sales and construction project delays and cancellation will result in weaker growth in 2009 than over the past five years, the sector is. In their latest research report, uae construction industry outlook 2016, rncos analysts identified the speedy economic developments that are driving construction activities and infrastructure development in the uae.
Contribution of residential construction to gdp in the uae 9. Uae value of construction output by sector 2016 statista. Mar 01, 2016 2016 construction industry survey get the full report. Exploring the adoption of bim in the uae construction industry for. Demand in dubais construction sector has soared in light. The uae construction industry is in its beginning steps towards bim adoption, mainly due to recent. Construction industry and cement production in the uae. Saudi arabia gdp from construction 20102019 data 2020. Major industrial projects in uae, by city, as of 2016. The gcc construction machinery market was valued at usd 2,230. Uae construction market growth, trends, forecast, and the impact of covid19 have been captured in this report.
Construction in the uae key trends and opportunities to 2022. In their latest research report, uae construction industry outlook 2016, rncos analysts identified the speedy economic developments that are. Khalid humaidan, ceo, bahrain economic development board. Labor costs in construction middle east 2016 statista. Agc releases the 2016 construction industry outlook. Also, the report offers latest trends, size, and share, industry overview. This growth is the result of the construction boom that began in the country after the development of the oil and gas industry. Aug 22, 2016 the report the uae cement industry outlook. Apr 07, 2020 united arab emirates economic growth economic growth is expected to decelerate this year on a weaker oil sector, while the nonoil sector is also expected to contract. Furniture consumption total and per capita furniture consumption 20072016, comparing the united arab emirates with the gcc region and world furniture consumption trends united arab emirates. While lower oil prices pose little threat to the uaes construction industry outlook overall, we forecast real growth in 2016 of 6. The construction industry will continue to recover in 2016 as many firms add to their headcount amid growing demand in a range of private and public sector markets, said stephen e.
Abu dhabis construction sector building momentum uae. Furniture consumption total and per capita furniture consumption 2007 2016, comparing the united arab emirates with the gcc region and world furniture consumption trends united arab emirates. To address the efficient use of resources in energyintensive operations, the pearl operational rating system is currently being piloted on prsrated construction projects. General contracting industry outlook 2018 through a detailed analysis from over 1,300 respondents within the industry, this exclusive report uncovers unique insights into the everchanging world of general contractors. The gcc construction industry outlook 2016 report is packed with the latest data on gcc construction projects with details by sector and including expert analysis on market drivers and trends. The gcc in 2020 outlook for the gulf and the global economy. Meed middle east business intelligence, news, data. The code can be downloaded from the municipality website. Despite a weak global economy, the industrys solid economic recovery in 2015 should continue in 2016, led by strong consumer spending, according to the 2016 construction industry forecast from the associated builders and contractors abc. This statistic depicts the value of the construction sector in saudi arabia from 2011 to 2014 with forecasts until 2019. Ali hassan alshaiba, executive director for tourism and marketing, abu dhabis department of culture and tourism.
Protectionism, vulnerability of financial markets and global. Construction spend analysis from 2005 2020, project pipeline by emirates. Construction activity experienced a slight slowdown. Regionallyglobally, outlook is uncertain global outlook worsened, although emerging economies have performed well8.
Each report contains a broad overview followed by a detailed analysis of underlying issues, and forecasts to help you prepare for future trends. Project management performance in the uae construction industry. Business opportunities and future growth potential to 2016 provides information on pricing, market analysis, shares, forecast, and company profiles for. United arab emirates furniture outlook world furniture online. In particular, it was noted that the average collection cycle, from completing the work to collecting the cash, totaled 225 days and there have been no reported improvements in.
The uae will remain politically stable in 202024 despite rising regional tensions centred on iran. Construction week online includes latest news, analysis and comments, business opportunities, tenders, market watch, project announcements, interactive community features and much more. Dubai construction set for growth news khaleej times. Construction outlook 20172019 new york building congress. Despite the prevailing climate, the construction industry remains resilient and the outlook for the sector remains cautiously optimistic. Gain an immediate insight on the gcc construction market. Gcc construction machinery market growth, statistics. Aug 01, 2017 the economy is still growing, but there is uncertainty and in the construction industry, growth isnt overly evident in h1. Market research analysis industry uae construction. Demand in dubais construction sector has soared in light of. Uae construction industry outlook 2016 pr newswire.
The global civil engineering market size was estimated at usd 8. A possible transfer of power in abu dhabi from the current ruler, who is in poor health, to the crown prince will go smoothly. Free industry and industry reports from the economist. List of major construction projects in uae, as of 2016 usd million table 2. The group forecasts growth in nonresidential construction spending of 7. Membership also entitles you to a free copy of the annual contractors directory which is a rich source of business contacts in the uae construction industry. A lack of liquidity is the biggest issue facing the gcc construction industry today, said the meed editorial director. Gdp from construction in saudi arabia averaged 28107. It was the first time since april 20 that it was below the 50 threshold which. Understand how the key sectors form the cornerstone of growth plans of gcc countries in the wake of volatility in oil prices.
Respondents were surveyed on questions pertaining to their business outlook, predicted future costs, as well as forecasted sales and revenue, while being asked to provide their perception into how the. The economy is still growing, but there is uncertainty and in the construction industry, growth isnt overly evident in h1. Uk construction industry slumped dramatically in runup to. In the fourth quarter of 2015, the index stood at 59. The companys construction cost index estimates that construction prices in the uae will rise approximately 6% in 2015. We are launching a groundbreaking report covering the entire construction value chain. Building cost comparison in uae, by topology, by average price, 2016 usdsq ft table 3. Abu dhabis construction industry weathered a challenging 2015 and. Kuwait, oman, qatar, saudi arabia and the united arab emirates, has undergone rapid. Jan, 2017 the fmi nonresidential construction index slipped just 0. Real gdp growth will pickup in 2020 with the hosting of expo 2020, and higher oil prices.
Through a detailed analysis from over 1,300 respondents within the industry, this exclusive report uncovers unique insights into the everchanging world of general contractors. Protectionism, vulnerability of financial markets and global tensions are considered the most significant downside risks within the outlook. Residential construction in the uae to 2019 market forecast. While the trend indicates a slower outlook for nonresidential construction, the index is still solidly in positive territory as it has been since the first quarter of 2012. You will be entitled also to get free subscription of bilingual tenders circular from time to time and in addition you will get special offers on services and purchases related to the. The outlook for construction companies in the gcc will improve in 2017, according to the latest industry research report from meed the report says that the regions strongest markets over the past 12 months were dubai, kuwait and bahrain, which. Construction forecast download pdf download construction pip tables view canada forecast subscribe key takeaways total engineering and construction spending for the u. It is one of the fastest growing economies and has one of the largest construction industries in the. This comes at a time when material costs have been falling. In their latest research report, uae construction industry outlook 2016, rncos analysts identified the speedy economic developments that are driving construction activities and infrastructure. Middle easts largest construction and contracting portal.
The most informative business resources for the building, business opportunities and construction industry. Gdp from construction in saudi arabia increased to 30542 sar million in the fourth quarter of 2019 from 30093 sar million in the third quarter of 2019. Alpen capitals gcc construction industry report focuses on key emerging trends, fundamental growth drivers, noteworthy challenges in the industry, and profiles of six gcc nations while presenting the outlook for residential and commercial office construction sector based on a supplyside approach. The uaes strategic location, welldeveloped financial market, big consumer base and localized drivers will continue to make it one of the most attractive markets in the gcc. Uae construction market is poised to grow at a cagr of 5. Despite a weak global economy, the industry s solid economic recovery in 2015 should continue in 2016, led by strong consumer spending, according to the 2016 construction industry forecast from the. Pdf the tremendous growth experienced in the uae construction industry has been mirrored by the development and.
United arab emirates economic growth economic growth is expected to decelerate this year on a weaker oil sector, while the nonoil sector is also expected to contract. General contracting industry outlook 2018 construction world. Construction in the uae, key trends and opportunities to 2021. Manufacturing industry in united arab emirates market. Construction intelligence report uae update faithful. Uae in top three for tall buildings completed in 2019. Annual demand for new workers in the uk construction industry from 2016 2020 wage and salary workers in the u.
Annual demand for new workers in the uk construction industry from 20162020 wage and salary workers in the u. Some of the factors driving the growth of the market are growing construction industry in the region, increasing demand for cranes, and developing trend toward automation and. Click below to request a copy of the 2016 construction hiring an business outlook conducted by sage and the associated general contractors of america agc. Future of the uae institutional construction industry. Uae construction market size, value, forecast 20192024. The uae insurance industry report of alpen capital talks about the current status of the uae insurance industry and how the economic slowdown has impacted the business. Construction in the uae has reached a new level, and the construction of new buildings requires specialized equipment and various building materials. It is a powerful resource for anyone seeking to do business in the gcc construction and infrastructure sector.