Abu Dhabi’s Construction, Building Materials' Sectors Post Solid Growth
<span style="font-weight: 400;">A key sector of the UAE’s economy, the total market size of the construction sector was valued at $101.45 billion in 2020. According to analysts, the UAE’s construction and building materials markets are very mature and are expected to hit $133.53 billion over the nex
Published -
Sep 25, 2021 4:43 AM
A key sector of the UAE’s economy, the total market size of the construction sector was valued at $101.45 billion in 2020. According to analysts, the UAE’s construction and building materials markets are very mature and are expected to hit $133.53 billion over the next five years, thus registering an annual growth of 4.69 percent throughout 2021-2026. Abdullah Al Hameli, the Head of the Industrial Cities and Free Zone Cluster at AD Ports Group, said: "The building material sector has been making a huge come back in the emirate as a result of the ongoing incentives offered by the government in line with the leadership’s vision to drive the sector forward." "The emirate has been attracting more construction and building material businesses that aim to seize the opportunities in this growing sector and target local and regional markets," he noted. AD Ports Group said, "It has witnessed an increasing interest from industry leaders in its Industrial Cities & Free Zone Cluster that covers over 550 sq km of industrial and commercial land and is home to over 1,500 local, regional, and international companies." The cluster comprises Kizad, the largest integrated trade, logistics, and industrial hub in the region, and ZonesCorp, one of the largest operators of purpose-built economic zones in the UAE. Zones Corp CEO Mohamed Al Khadar Al Ahmed said: "We have witnessed increased interest from the sector to leverage the strategic location of our industrial zones in the cities of Abu Dhabi and Al Ain and cater to an ever-growing real estate market in the region." ZonesCorp and Kizad are currently home to some of the biggest building material companies like EGA, Emirates Steel, Emirates Float Glass, Exceed Group, Xtramix group, Talex, and Porcellan Tiles, among others.
Tags : post INTERNATIONAL construction economy growth UAE Abu Dhabi Building Materials' Sectors Solid