Badar Rashid AlBlooshi
UAE construction sector ‘to grow to $50.4bn by 2029’
DUBAI, July 19, 2024
UAE’s construction sector, which has shown 23% growth in Activity Index and achieved $87 billion in project awards in 2023, is projected to grow from $41 billion in 2024 and to $50.40 billion by 2029, with a CAGR of 4.26%.
Despite global challenges, the sector is seeing significant growth, particularly in residential and mixed-use projects, accounting for $125 billion and $232 billion respectively, said 3DXB Group, a pioneering leader in 3D printing solutions for the construction industry.
3DXB Group is poised to capitalise on the UAE's resilient construction market, which remains firmly positive with a project pipeline valued at $590 billion.
Innovation and sutainability
3DXB Group's commitment to innovation and sustainability is at the forefront of this market expansion. The company's advanced 3D printing technology significantly reduces construction time and costs while enhancing environmental sustainability by utilising eco-friendly materials and minimising waste.
“Our dedication to pushing the boundaries of construction technology positions us to contribute significantly to the UAE's ambitious infrastructure and sustainability goals,” said Badar Rashid AlBlooshi, Chairman of 3DXB Group. “The positive market outlook further reinforces our efforts to lead the industry towards a more sustainable and efficient future.”
In alignment with the UAE's substantial infrastructure investments, such as the $2.7 billion Sheikh Zayed double-deck road project and the proposed $5.9 billion hyperloop, 3DXB Group is prepared to support these transformative projects with its cutting-edge technology.
Largest 3D-printed villa
The company's recent achievements, including setting a Guinness World Record for the largest 3D-printed villa, demonstrate its capability and readiness to meet the demands of the growing market.
The sector’s trajectory provides a promising landscape for 3DXB Group to further expand its innovative and sustainable building practices.
Additionally, the integration of advanced technologies such as AI, BIM, and construction management software further enhances 3DXB Group's project efficiency and management capabilities. This technological prowess is pivotal in driving the sector towards a more innovative and sustainable future.
--TradeArabia News Service
