UAE construction sector surges with 23% growth in activity index, achieving $87 billion in project awards in 2023 compared to $31 billion in 2022.
UAE based 3DXB Group is poised to capitalize on the UAE’s robust construction market, which boasts a project pipeline valued at $590 billion. Despite global challenges, the sector is experiencing significant growth, particularly in residential and mixed-use projects valued at $125 billion and $232 billion, respectively.
In 2023, the UAE’s construction sector saw a 23% increase in the Construction Activity Index, with project awards reaching $87 billion compared to $31 billion in 2022. This growth underscores the importance of innovative solutions in meeting rising demand and overcoming financial constraints, high energy prices, and labor costs.
3DXB Group’s focus on innovation and sustainability drives this market expansion. Their advanced 3D printing technology reduces construction time and costs while enhancing environmental sustainability by using eco-friendly materials and minimizing waste.
“Our commitment to advancing construction technology positions us to contribute significantly to the UAE’s infrastructure and sustainability goals,” said Badar Rashid AlBlooshi, Chairman of 3DXB Group. “The positive market outlook further supports our efforts to lead the industry towards a more sustainable and efficient future.”
Aligned with the UAE’s substantial infrastructure investments, including 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. The company’s recent achievements, such as setting a Guinness World Record for the largest 3D-printed villa, showcase its capability to meet the market’s growing demands.
Badar Rashid AlBlooshi, Chairman of 3DXB Group. Image source: 3DXB Group
The UAE construction market is projected to grow from $41 billion in 2024 to $50.40 billion by 2029, with a CAGR of 4.26%. This trajectory offers 3DXB Group an opportunity to expand its innovative and sustainable building practices.
Furthermore, the integration of advanced technologies such as AI, BIM, and construction management software enhances 3DXB Group’s project efficiency and management capabilities, driving the sector towards a more innovative and sustainable future.
