MARKET INSIGHTS

  • The GCC steel production sector, with sheet fabrication as its largest segment, manufactured 3.3 million tons of steel in 2020, with a value of around US$3.1 billion
  • UAE set to invest $3.2bn in development projects by 2023
  • US$111.8 billion worth of construction contractor awards expected in the Gulf region in 2022
  • The US$13.6 billion UAE Railways Programme to extend the existing rail network via Dubai to the port of Fujairah
  • US$3.2 billion investments in nearly 130 state-funded development projects by 2023 in the UAE
  • ADNOC to invest US$127 billion in 2022-26 as the UAE's oil, gas reserves rise
  • UAE and Saudi Arabia lead global water desalination projects; US$4.3 billion investments expected into MENA desalination projects
  • Etihad Rail and Spainís CAF have signed a Dh1.2 billion agreement for designing, manufacturing, supplying, and maintaining passenger trains for the rail project in UAE
  • The UAE to invest US$163 billion in clean, renewable energy by 2050