UAE Construction Market - 2022 (Dec 2021)
|Title: UAE Construction Market - 2022 (Dec 2021)|
|Published on: 30-12-2021||Price: $1000.00|
The UAE’s economic growth is forecast to recover fully from the impact of the global coronavirus pandemic in 2022. The emirate's economy is recovering strongly from the pandemic and even sectors that were most affected due to the global slowdown are slowly bouncing back. The economy is expected to grow 4.2% in 2022, higher than the previous forecast of 3.8%. The UAE approved a federal budget of US$ 16.04 billion for 2022, according to the Ministry of Finance. The budget allocates US$ 6.59 billion for social development and benefits, US$ 5.85 billion for general government affairs and US$ 267 million for federal projects. There is no doubt the Expo has raised the profile of Dubai and the UAE as billions of dollars have been spent on it by the government and private sector. The Expo’s capital expenditure will spur wider economic impact in key sectors including construction (such as facilities and infrastructure development, and international participant pavilions), transport, storage, and communications, as well as travel, tourism, hospitality, and business services, according to industry experts.
The report covers detailed analysis of the economy, federal budget, and sectors such as the building, infrastructure, oil and gas and power and water sectors. Major projects expected to be awarded in 2022 are listed in the report.
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