Strong year ahead for Dubai construction

Construction activity in Dubai look set to remain strong through 2017 with a total of 4,000 projects amounting to an estimated $313.6bn, analysts say.

Dubai projects account for 39 percent of active projects in the UAE and 42 percent of the total estimated value of those projects, according to BNC Network’s Construction Analytics which tracks projects across five market sectors that are in the concept, design, tender, under construction and on-hold phases.

According to BNC’s Dubai Overview Report published in January 2017, the urban construction sector has more than 3,200 active projects amounting to a combined estimated value of over $245bn.

This is followed by the transport sector with 187 projects valued at $32.4bn, the utilities industry with 203 projects valued at $24.3bn, 377 industrial projects valued at $5.8bn, and 12 projects in the oil and gas sector totalling $4.6bn.

Some of Dubai’s current multi-billion dollar projects include Dubai Metro Red Line Extension which is a part of the Expo 2020 initiative, Container Terminal 4 of the Jebel Ali Port Expansion project and the Royal Atlantis Resort and Residences located in Palm Jumeirah.

Other megaprojects include the “Dubai Harbour” project announced by H.H Sheikh Mohammed Bin Rashid Al Maktoum in January, which will see construction of an impressive waterfront development spanning more than 20 million sq. feet.

In December, 37 active projects worth an estimated $2.2bn moved to construction in Dubai. As of the end of 2016, the total number of projects under construction was 2,508 with an estimated worth of around $92bn.