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Middle East and Africa Construction Industry Databook Series – Market Size & Forecast (2016 – 2025) by Value and Volume (area and units) across 40+ Market Segments in Residential, Commercial, Industrial, Institutional and Infrastructure Construction – Q1 2021 Update

Middle East and Africa Construction Industry Databook Series – Market Size & Forecast (2016 – 2025) by Value and Volume (area and units) across 40+ Market Segments in Residential, Commercial, Industrial, Institutional and Infrastructure Construction – Q1 2021 Update

Bonafide Trust 15-02-2021 1700 Pages Figures : 1910 Tables : 1910
Region : MEA Category : Manufacturing & Industry Construction & Building Materials

The construction industry in Middle East was affected due to the suspension of economic activities to contain the spread of the coronavirus outbreak. The onset of the coronavirus and subsequent decline in the oil prices had a negative impact on the construction sector. Although construction activities were affected, the work continued but with reduced productivity while keeping social distancing norms in mind. However, the sector is expected to recover in 2021 with various upcoming construction projects across Middle East. Despite the coronavirus outbreak, the Ministry of Energy and Infrastructure was able to meet the housing demand in the UAE. On the commercial front, Al Taif Investment, a joint venture between Dubai Investments and Fujairah Investment Establishment, announced the completion of Al Taif Business Centre within Fujairah City. The business center features two towers of 19 floors each and includes mall and office tower, and hotel and hotel apartments’ tower. The hotels and hotel apartment are expected to conclude Q2’21. On the infrastructural front, Egypt announced plans to develop roads and railway systems to connect nine African countries, February 2021. The infrastructure project will help create a route from Salloum, Egypt to Benghazi, Libya. Around 35 projects costing US$953 million are expected to be unveiled in the coming months. Nine projects costing US$19 million have already been concluded. Based on Saudi Vision 2030, the country is undertaking several multi-billion dollar infrastructure projects. In the next 20 years alone, the country is expected to spend US$1.1 trillion on the infrastructure sector. Some of the major infrastructure projects include the US$500 billion NEOM project, US$20 billion Diriyah Gate Development, US$10 billion Red Sea Development, and US$5 billion Qiddiya Entertainment project. All of these projects are expected to post a strong recovery for the infrastructure sector in 2021. FIFA World Cup 2022 has provided the biggest boost towards the growth of the construction sector in Qatar. It is expected that more than one million visitors will attend the 2022 World Cup. Therefore, the country has been on a spree to build a network of new hotels for guests descending during the mega event. As per Qatar National Tourism Council (QNTC), a total of 107 hotels with 21,577 rooms under construction at various stages of development. Due to COVID-19, there were delays in launch of hotels in 2020. However, in 2021 the situation has improved. Further, Qatar is planning to build 16 floating hotels with more than 1,600 rooms. The expected influx of visitors creates the opportunity for the development of commercial units, such as various shopping malls around Qatar. The Qatar National Vision 2030 which was launched in October 2008 aims to diversify economy and reduce dependence on hydrocarbons. As part of the vision, the country plans to spend on infrastructure and real estate projects which could boost the commercial construction growth in the coming years. This report from the publisher provides data and trend analyses on middle eastern and african construction industry, with over 100 KPIs. This is a data-centric report and it provides trend analyses with over 1,500+ charts and 1,200+ tables. It details market size & forecast, emerging trends, market opportunities, and investment risks in over 40 segments in residential, commercial, industrial, institutional, and infrastructure construction sectors. It provides a comprehensive understanding of construction industry sectors in both value and volume (both by activity and units) terms. The report focuses on combining industry dynamics with macro-economic scenario and changing consumer behavior to offer a 360-degree view of the opportunities and risks. This offering from the publisher is a bundled offering, combining 10 country reports: Egypt, Kenya, Nigeria, Oman, Qatar, Saudi Arabia, South Africa, Tanzania, Turkey, United Arab Emirates.

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