The construction value added in the UAE has shown consistent growth from 2013 to 2023, reaching $42.778 billion in 2023. Year-on-year growth has moderated over time, from a high of 5.73% in 2014 to 2.28% in 2023. The CAGR over the last five years up to 2023 stands at 2.5%, indicating a stable upward trend albeit at a decreasing growth rate. From 2024 onwards, growth is forecast to continue, with the value reaching $47.269 billion by 2028. The forecasted 5-year CAGR is 1.58%, suggesting a continued but slower growth trajectory.
Future trends to watch for in the UAE construction sector include:
• Impact of government initiatives and investments in infrastructure projects.
• Influence of global economic conditions and oil price fluctuations on investment flows.
• Advancements in construction technologies and sustainability practices driving efficiency.
• Urbanization trends and shifts in demand for residential and commercial construction.
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