Dubai: UAE has witnessed staggering 135 per cent year-on-year (YoY) growth with Dh49.25 billion project announcements compared to Dh21 billion in the same quarter last year, according to the latest construction intelligence cited in BNC Projects Journal.
“Despite the challenges posed by the pandemic, the construction industry in the UAE is experiencing an extraordinary resurgence,” it said in a statement. “This remarkable growth, along with significant project awards, demonstrates the UAE’s resilience and reestablishes its position as a leading global construction hub.”
According to the report, project awards surged from Dh33.46 billion to Dh49.22 billion, underscoring the significant investments being made in the country’s infrastructure development.
“We are witnessing an exciting growth trajectory in the UAE’s construction sector,” said Avin Gidwani, CEO of BNC Network. “These remarkable figures reflect the unwavering resilience and determination of the industry, positioning the UAE as a global leader in construction once again.”
Additionally, the GCC Energy Index has recorded a notable YoY growth of 46.7 per cent, indicating the region’s commitment to sustainable energy development.
Dubai, in particular, stands at the forefront of this resurgence, with ambitious plans to undertake numerous sustainability projects and initiatives, the report said. As the emirate prepares for a construction boom reminiscent of its golden era, businesses and investors anticipate the vast array of opportunities ahead.