United Arab Emirates Construction Market Overview by 2021 Construction Market Overview in UAE | Page 3

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• Assess business risks , including cost , regulatory and competitive pressures .
• Evaluate competitive risk and success factors .
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KeyHighlights
• In a bid to represent Dubai as a global hub for renewable energy , in November 2015 the government launched the Dubai Clean Energy Strategy 2050 . Under this strategy , the government announced its plans to invest AED100.0 billion ( US $ 27.2 billion ) in a green fund so as to encourage investments in renewable energy projects .
• On account of hosting the ‘ World Expo ’ in 2020 , the Dubai government is making significant investments to develop Expo-related infrastructure . Accordingly , in 2015 , the government announced its plans to invest over AED32.0 billion ( US $ 8.7 billion ) to construct the Expo site on a 4.3 million m2 area , as well as other related infrastructural facilities in the Dubai South district .
• In September 2016 , Dubai Holding launched the Jumeirah Central project , which involves the development of a new city district across 4.4 million m2 of gross floor area in Dubai . With a total investment of AED73.0 billion ( US $ 19.9 billion ) the project includes the construction of over 278 buildings , consisting of 11,000 housing units , retail units spread across an 845,417.6 m2 area , office facilities across a 743,224.3 m2 area and 7,200 hotel rooms .
• Chemaweyaat , the National Chemicals Company of Abu Dhabi , is developing a large-scale project called the Tacaamol-Al Gharbia Chemical Industrial City in Taweelah , Al Gharbia . This project involves a total investment of AED73.5 billion ( US $ 20.0 billion ), and is expected to be implemented in three phases .
• According to the World Economic Forum ’ s Global Competitiveness Report 2016 – 2017 , the UAE ranks fourth out of 138 countries , in terms of the quality of overall infrastructure . Moreover , the country retained its leading position secured in the previous year , in terms of the quality of road , air and port transport infrastructure .
Construction in the UAE Key Trends and Opportunities to 2021 Research Report