Friday, November 8, 2024
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By 2024, the Pipeline Value of Middle Eastern Projects will Surpass $3.9 Trillion

The Middle East’s construction project market is still expanding due to development activities in the region’s biggest construction markets, which include Saudi Arabia, the United Arab Emirates, Oman, Qatar, and Egypt. According to a recent report by Jones Lang LaSalle (JLL), the value of the UAE’s construction project pipeline as of the first quarter of 2024 was US$590 billion (Dh2.16 trillion), or 15% of the regional total.

The report stated that mixed-use projects will account for US$232 billion (39%), while residential developments will account for US$125 billion (21%). The UAE’s economic diversification and investment have advanced significantly, as seen by the US$87 billion in granted projects in 2023 compared to US$31 billion in 2022.

To support the $3.9 trillion (Dh14.3 trillion) Middle Eastern construction projects, Build Well, a construction and building materials company that specialises in the supply and installation of fire-rated steel doors, architectural hardware (ironmongery), and other high-quality building materials for the construction industry, is expanding its presence with eight offices in the Middle East and globally.

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Friday, November 8, 2024

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