The UAE construction market, which was estimated to be worth $94 bn in 2023, is projected to experience a 3 percent annual average growth rate (AAGR) from 2025 to 2028, Invest-Gate reports.

This growth can be attributed to increased investments in transport and renewable energy infrastructure, along with advancements in the electric vehicle market, according to the report by GlobalData, a British data analytics and consulting company.

In terms of market share, residential construction accounted for the largest portion of the UAE’s construction market last year.

The report also highlighted the ongoing growth momentum in the country’s real estate sector. It anticipates that the sector will maintain robust growth rates in 2024, supported by the launch of high-quality infrastructure projects and investments from both the government and the private sector.