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DAE net profit up 36.2%

Revenues grew by 9 percent to $1.42bn from $1.31bn in 2023.

Borouge 2024 net profit $1.24bn

The company said it will maintain a $1.3bn dividend for 2025.

ADQ, Orion to establish JV

The partners commit to deploying $1.2bn in the next four years.

Alpha Dhabi acquires interest in NCTH

The deal increases NCTH's portfolio to 8 hotels with 1,500 keys.

Meraas awards construction contract

The $272m contract has been awarded for Bluewaters Bay.

UAE construction market soars to $94bn in 2023

The report says the UAE ranked ninth globally. (WAM)
  • According to a report, the growth is attributed to the increase in investments in transport and renewable energy infrastructure
  • The report added that residential construction captured the highest share of the UAE's construction market last year

Abu Dhabi, UAE–The UAE construction market size was $94 billion in 2023 and the market will achieve an AAGR of more than 3% during 2025-2028, according to a report released by GlobalData, a data analytics and consulting company, headquartered in London.

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.

According to the report, residential construction captured the highest share of the UAE’s construction market last year, which indicated that the real estate sector continued its growth momentum.

Residential construction captured the highest share of the UAE’s construction market last year, according to the report, which indicated that the real estate sector continued its growth momentum with expectations that the sector will maintain good growth rates during the current year 2024 supported by the launch of qualitative infrastructure projects and investments by the government and the private sector.