The "Middle East & Africa Construction Industry Databook Series - Market Size & Forecast by Value and Volume (area and units), Q1 2024 Update" report has been added to ResearchAndMarkets.com's offering.

This report provides data and trend analyses on Middle East & Africa 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, top cities construction data, emerging trends, market opportunities, and investment risks in over 40 segments in residential, commercial, industrial, institutional, and infrastructure construction sectors.

The African and Middle East construction market is poised to record strong growth over the medium term. The growth will be driven by rising infrastructure investment in these regional markets. The European Commission, in January 2024, entered into a strategic partnership with the African Development Bank to increase investment in infrastructure projects in Africa. In the Middle East, UAE and Saudi Arabia, are projected to lead the sector growth in 2024.

The residential construction market outlook remains upbeat over the medium term in the Emirates. The Crown Prince of Abu Dhabi, Sheikh Khaled bin Mohamed, has given the go-ahead for the Yas Canal project at Al Raha Beach. In Saudi Arabia, the hotel construction activity is projected to gain strong momentum. The Kingdom, notably, has decided to invest US$800 billion into its tourism industry to attract a whopping 150 million visitors. Overall, the publisher maintains a positive growth outlook for the construction market over the next three to four years.

Investment in infrastructure construction projects will support the African market growth in 2024

The European Commission, in January 2024, entered into a strategic partnership with the African Development Bank to increase investment in infrastructure projects in Africa. The two have agreed to increase their financing to €972 million. This partnership will allow them to fund new infrastructure projects, focusing on areas like transportation, energy, and digital connectivity in Sub-Saharan Africa.

One major project includes the development of Lobito Corridor, which will help boost exports for Zambia, Angola, and the Democratic Republic of Congo. For the European Union, this partnership aligns with its Global Gateway initiative, which aims to strengthen connections with other regions. As part of this initiative, the EU plans to invest €150 billion in Africa between 2021 and 2027.

The South African government has also announced significant public infrastructure investment during its 2024 budget. Over the next three years, the government has announced a spending of R943.8 billion towards public infrastructure projects. This will keep supporting the growth of the broader construction market in the African region over the medium term.

The residential construction sector is expected to record strong growth in the UAE market in 2024

The Crown Prince of Abu Dhabi, Sheikh Khaled bin Mohamed, has given the go-ahead for the Yas Canal project at Al Raha Beach. The US$953 million worth of construction project will offer 1,146 villas for citizens. The project is slated for completion in Q4 2027.

The Abu Dhabi Housing Authority will lead the construction project in collaboration with the Abu Dhabi Centre for Projects and Infrastructure and the ICT Real Estate Development Company. Spread over 1.8 square kilometers, the construction project will feature villas, three mosques, a school, and a gym. Furthermore, there will be amenities and shops spread across a one-hectare area.

Aqua Properties, in December 2023, announced two construction projects valued at US$817 million in Dubai over the next six months. One of these projects involves the construction of a 50-storey tower along Sheikh Zayed Road, while the other includes the development of a 300,000-square-foot plot. Having already finished four residential and commercial ventures in the UAE, Aqua Properties currently has three more projects under construction. In Q1 2024, the firm has set a target of delivering more than 500 residential and commercial units.

These projects, coupled with the affordable housing policy in Dubai, mean that the residential construction market will lead the growth of the broader construction industry over the medium term in the UAE. The Crown Prince, in March 2024, approved the affordable housing policy that is aimed at facilitating over 100 innovative initiatives in its initial phase.

Qatar has announced an investment of nearly US$19 billion to transform the national infrastructure in 2024

In 2024, Qatar is planning to transform the national infrastructure with Ashghal and Kahramaa - two major government authorities - having announced plans to spend US$19.2 billion on various projects. These projects are aimed at improving infrastructure, making public services better, and boosting the economy.

Ashghal is taking the lead with about 116 different projects valued at around US$16.2 billion. These projects cover a wide range of areas, including developing new land, improving existing areas, upgrading the road network, and modernizing sewage and marine systems. A significant portion, about US$7.8 billion, will be used for 41 projects focused on developing land and upgrading roads. Another US$3.2 billion will be spent on 21 projects to build new sanitation systems and improve existing ones.

Kahramaa, on the other hand, plans to carry out 279 projects valued at approximately US$2.4 billion. These projects will focus on three main areas, including improving electricity networks, upgrading water networks, and enhancing corporate service departments. Of the US$2.4 billion, US$1.6 billion has been allocated for 83 projects for improving electricity networks, US$604 million for 41 projects to upgrade water networks, and the remaining funds, totaling US$263 million, will be used for improving service departments.

This title is a bundled offering, comprising 10 country reports. Each country report covers the following modules:

• Market Dynamics by Value, Volume, and No. of Units: Provides a comprehensive data-centric view of size and structure, industry dynamics, and end market opportunities in the building and infrastructure construction industry.
• Residential Construction Outlook: Provides market analysis by type of construction, development stage, price point, and key cities. KPIs include value, volume and number of units.
• Commercial Construction Outlook: Provides construction outlook by value and volume across office buildings, retail buildings, hospitality buildings, restaurant buildings, and sports facilities.
• Institutional Construction Outlook: Provides construction outlook by value and volume across manufacturing plant buildings, metal & material processing buildings, chemical & pharmaceutical buildings.
• Industrial Construction Outlook: Provides construction outlook by value and volume across manufacturing plants, educational buildings.
• Infrastructure Construction Outlook: Provides growth dynamics and market analysis by three key sections such as marine and inland, utility system and transport infrastructure construction.
• City Level Analysis: Provides outlook of top 10 cities by construction value for each country.

For more information about this report visit https://www.researchandmarkets.com/r/sey6zu

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