BNC Forecasts Significant Construction Activity in 2017.
Dubai’s strong construction trends look set to continue through 2017 according to BNC’s Construction Analytics across five market sectors indicating a positive year ahead with a total of 4,000 active projects ongoing amounting to a total estimated value of USD 313.6 billion. This includes projects that are in the concept, design, tender, under construction and on-hold phases, and constitutes 39% of the number of active projects in the UAE and 42% of the total estimated value of all active projects in the UAE.
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 USD 245 billion. This is followed by the transport sector with 187 projects valued at USD 32.4 billion, the utilities industry with 203 projects valued at USD 24.3 billion, 377 industrial projects valued at USD 5.8 billion, and 12 projects in the oil and gas sector totaling USD 4.6 billion.
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. The significant announcement of the “Dubai Harbour” project by H.H Sheikh Mohammed Bin Rashid Al Maktoum in January 2017 will see the construction of an impressive waterfront development spanning more than 20 million sq. feet.
December, 2016 saw 37 active projects worth an estimated USD 2.2 billion moving 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 USD 92 billion.
BNC (Business News for Construction) is used by thousands of business leaders and construction industry professionals around the world to track developments, gain insight on projects and do business in the construction industry. BNC covers construction projects, across all sectors including urban construction, mega developments, transportation, utilities, industrial developments and oil & gas and publishes over 2,000 construction analytics annually based on extensive research and analysis.
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