What makes the UAE and particularly Dubai so special?
Dubai is a global city. A thriving business hub. The shopping capital of the Middle East. A place where doing business is a cakewalk. Above all, Dubai is one of the safest cities in the world. A lot more can be said about the city of gold.
Speaking of the economy, Dubai is one of the world’s fastest-growing economies.
The city has all the necessary features and much-needed optimism. And that is why the growth engine has always been roaring and gaining the attention of the entire world.
The oil industry has laid a strong foundation. Construction, tourism and many other industries have seen exponential growth in recent decades. The city attracts companies, investors and the workforce from every corner of the globe.
Do you know that 25% of the total number of construction cranes in the world is operating in Dubai?
If there is an industry which has always been in a boom, then it is the construction sector in Dubai. If it sounds like a ‘tall’ claim, take a look at the list given below.
• The world’s tallest tower – Burj Khalifa
• The world’s largest shopping mall – Dubai Mall
• The world’s largest fountain – The Dubai Fountain
• The world’s largest hotel – Gevora Hotel
No wonder the entire world looks up to Dubai.
• Dubai Metro Red Line extension
• Container Terminal 4 of the Jebel Ali Port Expansion project
• The Royal Atlantis Resort and Residences
• Dubai Harbour Creek project (20 million square feet)
With Dubai preparing to host Expo 2020, a universal exposition, billions of dollars have been poured into the construction industry.
Also, by 2020, there will be a great demand for residential and commercial spaces. All segments of the construction industry right from residential, commercial, lifestyle, hospitality and transport are thriving with huge potential.
For sure, the industry will witness exponential growth in the coming years. The government has also been taking the necessary steps to reduce delays in approval processes.
Speaking of the statistics, in the Gulf region, projects worth of $79 billion has been awarded in the year of 2018 in which, around $37 billion worth of projects have been awarded in the UAE. The country holds the lion share of construction contracts; that is around 33%.
Experts say, after having gone through ups and downs in the recent decades, the industry has become matured and achieved stability. With little or no price fluctuations, one can expect sustainable long-lasting growth.
The region, which has traditionally been known for oil, now the construction industry has become the biggest contributor to the economy. The city has emerged as the most promising destination for investors.
If you are an investor, the city is the prudent choice for you.
If you are in the construction business, the city welcomes you with open arms.
If you are a worker, then the city holds a bright future for you.
What are you waiting for?