The UAE construction market size, estimated at $94 billion in 2023, is expected to grow at a 3 percent annual average growth rate (AAGR) during 2025-2028, a report said.
The growth is attributed to the increase in investments in transport and renewable energy infrastructure, with improvements in the electric vehicle market, according to the report by GlobalData, a data analytics and consulting company.
Residential construction captured the highest share of the UAE’s construction market last year.
The report also indicated that the real estate sector in the country continued its growth momentum with expectations that the sector will maintain good growth rates in 2024, supported by the launch of qualitative infrastructure projects and investments by the government and the private sector.
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