United Arab Emirates Infrastructure Report Q4 2010
Business Monitor International, September 2010, Pages: 88
The United Arab Emirates Infrastructure Report provides industry professionals and strategists, corporate analysts, infrastructure associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the United Arab Emirates' infrastructure industry.
Our core views regarding the UAE remain the same. While we have become more bearish in our estimates, we still maintain that the fundamental driver of growth will be Abu Dhabi, while we also see opportunities for continued growth in water, power and large industrial construction. South Korean firms have established a strong presence in the UAE and recent moves ensure that they strengthen that foothold.
- Abu Dhabi firmly remains in the forefront of infrastructure developments, with the implementation of the long-term Vision 2030 plan fuelling growth for the infrastructure sector
- With the absence of any tangible official data since 2008, estimates and forecasts remain bearish, underpinned by BMI’s bearish outlook for wider macroeconomic activity and therefore the fixed investment prospects over the coming quarters
- The precedent-setting Mafraq- Ghweifat road tender, the first of its kind in the UAE, is expected to be concluded by the end of 2010
- A memorandum of understanding (MoU) signed between the First Gulf Bank (FGB) and the Construction Association of Korea (CAK) is the latest evidence of South Korea's growing presence in the region. Meanwhile KEPCO said it will begin the construction of the nuclear power plant in December 2010.
In BMI’s ‘Q410 UAE Infrastructure Report’ we have decreased our forecast for industry value real growth for 2010 to 0.66% from a previous forecast of 3.3%. As such, we forecast that industry value will reach AED71.6bn (US$19.48bn). This growth will be fuelled largely by Abu Dhabi and to a lesser extent by transport infrastructure projects in Dubai, such as – the Green Line metro project, the Al-Maktoum International Airport and the expansion of Dubai Airport.
Official annual data for 2009 are yet to be published, but a study from the Abu Dhabi statistics centre found that steel prices in Abu Dhabi witnessed an average decline of 44% and concrete prices fell by 13.5% over 2009. This reinforces our estimates for 2009, which indicate that construction industry value real growth slowed quite abruptly over the same period.
Executive Summary
SWOT Analysis
UAE Infrastructure SWOT
UAE Infrastructure Project Finance SWOT
UAE Economic SWOT
UAE Political SWOT
Market Overview
UAE
Table: A Strong Performance
Industry Gears Up For Infrastructure Expansion
Cement Glut In The Gulf Coming?
Industry Forecast Scenario
Table: Economic And Construction Data
Construction And Infrastructure Forecast Scenario
Transport Infrastructure
Transport Infrastructure Overview
Major Projects – New And Ongoing Projects
Airports
Ports
Roads
Railways
Major Projects Table – Transport
Table: Major Infrastructure Projects – Transport
Energy And Utilities Infrastructure
Energy And Utilities Infrastructure Overview
Major Projects – New And Ongoing Projects
Power Plants
Oil And Gas Pipelines
Water
Major Projects Table – Energy And Utilities
Table: Major Infrastructure Projects - Utilities
Business Environment
UAE Business Environment
Rewards
Risks
Regional Overview
Middle East Infrastructure Business Environment Ratings
Table: Regional Infrastructure Business Environment Ratings
Project Finance Ratings
UAE Project Finance Ratings
Design And Construction
Commissioning And Operating
Overall Project Finance Rating
Regional Overview
Project Finance Ratings: Outlook For Middle East
Table: Design And Construction Rating
Table: Commissioning And Operating Rating
Table: Overall Project Finance Rating
Macroeconomic Outlook
Table: UAE – Economic Activity
Political Outlook
Long-Term Political Outlook
Company Monitor
Arabtec Construction
Dutco Balfour Beatty Group
Al Habtoor Leighton Group
Veolia Water
Suez Environnement
Global Overview
Core Views
BMI's Core Views For Infrastructure Sector
Methodology
Industry Forecasts
Construction Industry
Data Methodology
Construction
Capital Investment
Construction Sector Employment
Infrastructure Business Environment Rating
Table: Infrastructure Business Environment Indicators
Project Finance Ratings
Table: Design And Construction Phase
Table: Commissioning And Operating Phase – Commercial Construction
Sources
- Arabtec Construction
- Dutco Balfour Beatty Group
- Al Habtoor Leighton Group
- Veolia Water
- Suez Environnement
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