The construction permit procedures in the United Arab Emirates have varied notably over the past decade, showing an initially decreasing trend followed by a period of stability and fluctuation. Between 2013 and 2023, the number of procedures stabilized at 11 units most of the time, with deviations in specific years such as 2015 (10 units) and 2016-2018 (14 units). The year-on-year variations have ranged from a peak of 40% in 2016 to a dip of -21.43% in 2019. The compound annual growth rate (CAGR) over the last five years up to 2023 shows a slight decline at -4.71%.
Looking ahead, the forecast indicates a continued slight decline in the number of construction permit procedures from 11 units in 2023 to 10 units by 2028. The forecasted five-year CAGR suggests a decline of -1.89%, resulting in an overall forecasted growth rate of -9.09% by 2028.
Future trends to watch for include:
- The impact of regulatory changes in the construction sector.
- Technological advancements in construction management processes.
- The influence of economic diversification initiatives on the construction industry.
- Possible shifts in investment flows and foreign direct investments affecting construction activities.
