Page 45 - Magazine Jan 2025

AED 2.16 Trillion:

The Value of Current Construction Projects in UAE

2024 ربوتكأ 07
The Middle East has become the focus of materials company specializing in the “As a construction-focused company,
the world’s attention, as the construction supply and installation of fire-resistant we are keen to provide the latest building
market is witnessing a huge boom driven steel doors, architectural tools (iron), and materials, innovative and sustainable
by ambitious development visions in various high-quality building materials for products and technologies that enhance
leading countries such as the Kingdom of the construction industry, is expanding its the life cycle of buildings and reduce the
Saudi Arabia, the United Arab Emirates, business across the Middle East and the carbon footprint.”
the Sultanate of Oman, Qatar and world through eight offices, with the aim
Buildwell primarily focuses on targeting
Egypt, which are considered the largest of supporting the $3.9 trillion (AED 14.3
large contractors (i.e. its dealings are with
construction markets in the Middle East. A trillion) worth of construction projects in
companies), especially those working on
recent report issued by Jones Lang LaSalle
Current construction commercial, industrial and residential
(JLL) revealed that the value of ongoing
projects in the UAE projects.
construction projects in the United Arab
represent 15% of the Buildwell serves major contractors,
Emirates alone reached 590 billion US
total value of projects in architects, business contractors, developers
dollars (2.16 trillion dirhams) during the
first quarter of 2024, which represents the region. and government agencies involved in major
15% of the total value of projects in the the Middle East. construction projects. The company offers
region. a range of state-of-the-art fire-rated steel
Buildwell currently has bases in Lebanon
doors, which are certified to meet the
Residential projects are expected to and Kuwait, while expanding its regional
highest safety standards, highlighting the
reach 125 billion US dollars (21%), while reach by opening offices in Saudi Arabia,
mixed-use projects are expected to reach Qatar and the UAE, in addition to its global company’s unwavering commitment to
232 billion US dollars (39%). Reflecting offices in the UK and the USA. safety, product quality and compliance with
the significant progress in diversifying the regulatory requirements.
“The current growth in construction
economy and investment in the country, “With the market opportunities
services driven by the growing demand
the number of projects awarded in the UAE increasing due to the growth in
in the infrastructure, housing and real
reached $87 billion in 2023, compared to construction activities, we are witnessing
estate sectors has prompted Buildwell
$31 billion in 2022. an increase in the number of new large-
to expand its operations in the GCC by
The Middle East Economic Digest opening multiple offices, with the aim of scale projects in Dubai and other parts
magazine revealed that the GCC countries meeting the growing need for high-quality, of the Middle East. The main challenge is
have a huge portfolio of projects worth durable and cost-effective products, while the fierce competition within the market
more than $2.7 trillion, with Saudi Arabia taking into account the environmental from other suppliers of fire-rated steel
alone accounting for $1.5 trillion of this requirements and sustainability standards doors and architectural hardware,” said
total value. in the Middle East,” said Raji Maalouf, CEO Raji Maalouf, an architect and businessman

Build Well, a construction and building of Buildwell. with over two decades of experience.

Contractors News | January 2025 Issue 30