UAE construction to climb 9.5% CAGR

The UAE construction sector is going through a phenomenal growth phase with a score of ongoing projects, investment into green open spaces, and the strong government support. Further, the country is witnessing massive investments in the construction Industry from both public and private enterprises coupled with the increased foreign direct investment over the past few years.  In their latest research report, UAE Construction Industry Outlook 2016, RNCOS analysts identified the speedy economic developments that are driving construction activities and infrastructure development in the UAE. The market, which is estimated at US$39.4 Billion in 2012, is expected to grow at a CAGR of around 9.5% during 2012-2016. Further, analysts have also identified the major emerging trends and the key challenges confronted by the industry.