Dubai plots major projects comeback
18 August 2023
Commentary
Colin Foreman
Editor
The city may buzz with economic activity and a buoyant property market, but Dubai has endured a lacklustre few years for major projects.
The lull in major project activity followed the completion of the infrastructure for Expo 2020.
This dip in activity had been anticipated during the years leading up to the expo, and the unexpected addition of the Covid-19 pandemic disrupted any hopes of a swift return to form with the launch of major projects.
In the past year, there have been some significant contract awards from the real estate sector as developers keep selling off-plan and press ahead with new projects. These projects have mostly been secured by local players that over the past two decades have built up the capability to take on most building projects independently, without international partners.
Local players … have built up the capability to take on most building projects independently, without international partners
Although many internationals have scaled back their presence in Dubai to focus on other markets, they have a role to play in upcoming infrastructure schemes planned in the emirate. The most eagerly anticipated is the Blue Line project that will extend the Dubai Metro network. That multibillion-dollar scheme is expected to come out to prequalification by the end of this year.
The other infrastructure scheme is the Deep Tunnels Portfolio project, which involves the construction of a network of deep sewage tunnels and pumping stations. While not as glamorous as some of the iconic building projects that international contractors have delivered in the past, these projects will create real opportunities for international players.
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