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UAE construction industry faces challenging times
June 13, 2011
By prameelav
The UAE construction industry that registered a huge growth rate from 2006-10 inspite of a timid performance in 2009 and 2010, is expected to face challenging conditions in the immediate future.
Though it is predicted to grow with a CAGR of 5.9%, the industry is likely to face trouble in attracting and retaining a skilled workforce and due to the rising prices of construction materials including cement and steel. The UAE's foreign workforce consists of nearly 43% Indians and improved career opportunities and higher wages back home are luring the workers back at a steady rate.
Opportunity wise, the infrastructure construction market seems to be poised to become a key driver with an expected CAGR of 6.9%. The industry is shifting towards public-private initiatives as opposed to sole government initiatives and redevelopment projects across several infrastructure sectors are expected to drive growth to a reasonable level.
All these and many more facts and figures in addition to an in-depth analysis can be found in the report: The Future of Construction in UAE to 2015 published by World Market Intelligence (WMI).
To access the complete report, please visit our premium subscription Construction Intelligence Center product www.worldmarketintelligence.com/ic/construction
Posted by prameelav on June 13, 2011 11:31 AM
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