Home to the world’s tallest building, tallest hotel and the world’s tallest residential tower, Dubai skyscrapers undoubtedly enjoy a competitive edge over most other major cities. Within a short span of time, we have watched in awe as a strip of desert has evolved into a bustling metropolis, and things are on an upward trajectory with Dubai winning the Expo 2020.
Gulf construction companies are also experiencing a new era after the emirate’s property market crash of 2008-2009. New projects and contracts that have been sidelined are back in action enhancing potential growth in the regional building and construction sector. Developers are confident about capitalizing on the renewed industry momentum and now with all roads leading to the expo, the future looks immensely bright and promising too.
According to a research done by Bank of America Merrill Lynch, it is anticipated that the Dubai government will spend about $6.8bn on building works to improve infrastructure in the run-up to 2020.
The emirate also expects creation of 277,000 jobs in UAE as a result of the Expo 2020 and forecasts visitors of 25 million, an optimistic figure compared with the 10 million visitors last year. As a result, we can safely assume heightened construction of hotels and offices in Dubai, an emirate that spans a mere 4100 sqkm. It wouldn’t be wrong to predict that building skyscrapers within the space available will be the best way to accommodate the current and the future requirements.
High rises like Burj Al Khalifa, Princess Towers and many more not only solves the issue of space in the region but also elevates the country’s identity on an international platform. Dubai being tourism hub of the Middle East, strives to create such landmark structures that can become a melting point for tourists from across the globe.Moreover, Dubai Multi Commodities Center also announced earlier this year plans to build the world’s tallest commercial tower Burj 2020 as a part of free zone business park expansions (107,000 square meters) catering to the increased global demand from multi-nationals and regional corporates for large scale commercial space in Dubai.
The market also saw sharp rise in steel and concrete prices in Abu Dhabi as construction activity continues to expand within the country.Being one of the largest global ceramic tile brands, RAK Ceramics finds the GCC region as one of the most important markets for the company. GCC countries, including the UAE, contribute more than 50 percent of the RAK sales. Abdallah Massaad, CEO RAK Ceramics said that he was optimistic about the future outlook for the UAE and regional building and construction sector and that the momentum of the local real estate market would have a trickle -down effect.
In an expo on construction held in Dubai last month, Gulf News Properties reported that $15.5 billion in construction contracts awarded in the UAE in the first half of 2013 were a 66 per cent jump on those awarded in the second half of 2012.
With construction industry evolving faster than ever before and buildings being developed sky-high, the country needs sustainable solutions that will support the safety of these massive structures. Looking at the need of the hour, Dubai will be hosting Smart Skyscrapers Summit 2014, conference on high rise buildings on 28th and 29th April, 2014 at Sofitel Dubai The Palm Resort and Spa attracting over 300 senior architects, engineers, policy-makers, developers, contractors and building managers from across the Middle East. The conference will see presentations and case studies from local and international thought-leaders, a showcase of the most innovative building technologies and solutions from around the world.
Expotrade Conference Producer Charlene Corrin believes that the summit will offer transformative benefits to all the delegates attending and extend high-level networking opportunities within the industry. She quoted, “With the recent announcement of Dubai’s successful Expo 2020 bid and positive investor sentiment this is the ideal time for the construction industry to share best practice and discover the solutions which will assist Dubai in achieving its ambitious targets”.
Expotrade is a global conference and event organizer with its head office based in Melbourne, Australia and regional office in Dubai, UAE. Expotrade has delivered some of the largest, most successful B2B industry conferences and events that are amongst the best patronized in the calendar.
Authored by Dept.Of Marketing and Communications, Expotrade Global