Press Release

Middle East Construction Market to be Dominated by Residential Segment Until 2028

Latest government plans and growing construction GDP in the middle east region are the factors driving the Middle East construction market growth.


According to TechSci Research report, “Middle East Construction Market - By Country, Competition, Forecast & Opportunities, 2028”. The Middle East construction market is expected to register a high CAGR in the future period, due to the reason that several governments are focusing on smart city plan and for instance, UAE government is planning to digitalize up to 1,000 government services and install 2,000 Wi-fi hotspots in the developed locations. Besides, liberal trade policies in the UAE are inviting foreign investors and helping in booming the middle east construction market.


Similarly, the (PPP) public-private partnership model is being adopted over in the countries, which enables the provision of efficient goods and services at lower costs. In 2020, the Abu Dhabi government announced an impressive project to purchase USD 2.72 billion worth of infrastructure partnership projects in various industries, including education, transportation, and municipal works. The public-private partnership initiative was created as part of Abu Dhabi's USD 14 billion "Ghadan 21" stimulus project program to improve countries economic growth rate. Due to this investment with PPP initiatives, the overall Middle East construction market is expected to grow during the forecast period. For instance, on January 2022 - NMDC won a USD 354 million contract from AD Ports Group for Shamal Development marine works. The scope of work includes the dredging of 16.8 million cubic meters, a 1.2 km quay wall, and the construction of approximately a 3.8km long detached breakwater.


In addition, Abu Dhabi has announced a new initiative which will enhance the urban spaces and nature sites. Investment of Dh 8 billion (USD 2.2 Bn) across the main regions of Abu Dhabi, AI Ain, AI Dhafra to effect 300 enhancements that range from small-level involvements for the regeneration of large-scale public spaces is done.


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The Middle East construction market is segmented into type, end user, sector, construction type, and region. Based on type, the market is segmented into building construction, heavy & civil engineering construction, and others. Based on end user, the market is segmented into private and public. Based on sector, the market is segmented into commercial, residential, industrial, and infrastructure. Based on construction type, the market is segmented into new construction and repair & maintenance.

Based on country, the market is segmented into Saudi Arabia, UAE, Qatar, Kuwait, Bahrain, Israel, Iran and Rest of Middle East. Saudi Arabia will dominate the market in forecast period.  Various Middle Eastern countries such as Saudi Arabia are inclined towards sale of government services, to attract FDI and increase private sector participation for construction projects in healthcare, industrial, retailers, housing, finance, and energy sectors. Additionally, UAE, the most expanded economy in the GCC region, has made major funds in Dubai. For instance, construction of Atlantis Hotel, Palm Jumeirah and the Creek Harbour development are the two largest projects in Dubai.

Key market players in the Middle East Construction Market include:

  • Orascom Construction Plc
  • Nesma & Partners Contracting Co. Ltd
  • Al Bawani Company
  • ALEC Engineering and Contracting (ALEC)
  • Arabian Construction Company (ACC)
  • ASGC Group
  • Arab Contractors (AC)
  • Al Naboodah Construction Group
  • Almabani General Contractors
  • Airolink Building Contracting LLC

 

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“Countries like Saudi Arabia & Bahrain have high population, due to which authorities of these countries are moving towards smart construction plants. For instance, the population of Saudi Arabia in 2017 was 33.95 million and in 2020 the population reached 37.20 million, generating an enormous demand for houses in the years to come and the development of new cities and government development plans are likely to significantly accelerate the growth of the construction sectorSaudi Arabia is working toward its established Vision 2030 program, followed by the continuation of the country’s associated Giga projects. Construction projects like NEOM, The Red Sea Project, and AMAALA are anticipated to provide positive hike. Sportingly, these developments are creating new job roles in construction and development sector. The Saudi Vision 2030 objective is to create a better living standards for citizens.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.


“Middle East Construction Market By Type (Building Construction, Heavy & Civil Engineering Construction, and Others), By End User (Private, Public), By Sector (Commercial, Residential, Industrial, and Infrastructure), By Construction Type (New Construction, Repair & Maintenance) By Country, Competition, Forecast, and Opportunities, 2028”, has evaluated the future growth potential of Middle East Construction Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the Middle East Construction Market.


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