- UAE holds 24 per cent of GCC’s total building construction projects
- Construction spend to hit USD 25 billion in 2011
- Demand for aluminium extruded products to hit 122,445 metric tonnes by 2015
With local projects representing 24 per cent of the entire GCC’s building construction activities, the UAE continues to rank among the region’s top construction markets. Contracts worth around USD 27 million were awarded in 2010, with 2011 expected to see actual building construction spending hitting the USD 25 billion mark. The UAE’s construction sector is expected to further increase at a compound annual growth rate (CAGR) of 10 per cent to USD 21 billion in 2015.
Total active building projects across the UAE from 2010 to 2015 are expected to be worth around USD 102 billion. Most developments are being undertaken either in Abu Dhabi or Dubai, with the construction sector accounting for at least 10 per cent of the GDP of both emirates.
Similar to many other countries in the Gulf, the construction sector is elevating demand for aluminium and aluminium extruded products in the UAE. Demand for modern real estate projects is especially driving the aluminium trade, which is poised to post a 9 per cent CAGR from USD 555 million in 2010 to USD 838 million in 2015. Demand for aluminium extruded products will most likely grow at a CAGR of 9.7 per cent from 70,853 metric tonnes (MT) in 2010 to 122,445 MT in 2015; demand by volume for the same period is expected to swell from 3.5 million sqm to 5.3 million sqm in 2015.
Available and future opportunities in the UAE’s vibrant aluminium market will be outlined during the 2nd ALUMINIUM Dubai exhibition running from May 9 to 11, 2011 at Sheikh Saeed Halls 2 and 3 of the Dubai International Convention and Exhibition Centre. Regarded as the Middle East’s leading aluminium trade show, ALUMINIUM Dubai 2011 is the local version of the global series of aluminium events organized by Reed Exhibitions in major markets which also include India, China and Germany.
“The UAE’s aluminium needs are getting larger and more quality-driven given the multitude of construction projects lined up in the country. ALUMINIUM Dubai seeks to create order to the dynamic market by presenting key opportunities, best practices and UAE-specific partnership strategies to investors and industry players alike. Given the UAE’s extensive regional and international construction ties, the show promises to be an effective platform for firms keen on expanding their business,” said Tarek Ali, Show Manager, ALUMINIUM Dubai, Reed Exhibitions.
ALUMINIUM Dubai 2011 will once again bring together global aluminium products and technology suppliers, international buyers and regional investors. This year’s event will welcome more than 150 companies to build on the success of the 2010 show which gathered 165 exhibitors from 23 countries and over 3,000 visitors from 61 countries.