Total allocation allocations in 2020 have reached $66. 4 billion to date, up from $57. 2 billion a year
Although this has been a difficult year for the UAE structure market due to the COVID-19 pandemic, the allocations market has noticed a really large increase in overall allocation allocations in 2020, just over $66. 4 billion from $57. 2 billion last year, a qualified leader said.
Dr. Deva Palanisamy, vice president of project intelligence for ProTenders, Dubai-based electronic tendering intelligence platform and structure, told Big Project ME that, in the absence of a colorful urban structure sector, marketing specialists and experts have begun using government infrastructure. as a source of new allocation opportunities.
“Water, electricity, road transport, and infrastructure are adapting more as corporations seek to get a smaller group of new business opportunities,” he says. “A total of 18169 projects (including pending projects) were active in the region. $15. 2 billion was announced in the first 3 quarters,” Palanisamy added.
The $29. 9 billion urban sector in the United Arab Emirates recorded costs in 2020 million, followed by the $26. 2 billion energy and infrastructure sector and $11. 7 billion in oil and fuel, he said.
“Projects in the design phase have slowed down than suspended and lately no genuine resolution has been taken to move forward with new projects. New projects will only be awarded if developers reduce original structure load estimates,” Explains Palanisamy.
“Contractors in the United Arab Emirates will have to begin the entire value trading procedure and point out value review contracts due to existing pandemic cases. Even recently awarded projects are subject to new prices. “
However, it is clear that some sectors such as water and renewable energy are growing. Oil and fuel spending in Abu Dhabi is also expected to increase in the coming year.
“While there are undeniable short-term demand situations due to COVID-19 and a fall in oil prices, the long-term situation remains healthy. In any case, the UAE market will remain one of the largest structured markets in the MENA region,” concludes Palanisamy.
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