The Middle East construction industry is flourishing on a high rate. The UAE has the most outgrowing construction sector. Dubai has gone under a tremendous transformation in recent times. The emirate with the most amusing Skyline is Dubai. Dubai, with its humongous tall buildings, skyscrapers and beautiful constructions, makes the emirate the most visiting tourist destination.
Dubai, with its increase in economical rate and development, is a hub for all Business setups. With its significant eye-catching sites and infrastructures, Dubai is the UAE’s most attractive Emirate. Many new business construction and high-tech city projects are evolving in the coming years.
With Expo2020 close at hand, Dubai is even busier with the construction and building activities. Many new projects are launched to for the grand opening of Expo 2020. A new pipeline of the technology-inspired project has been initiated. This has been creating an excellent range of opportunities for all investors. All the local as well as international contractors and investors are looking forward to striking this opportunity. The corporate setup and the residential property market is also immensely growing.
Advantages of Setting up a Construction Business Dubai
Dubai is one of the fascinating countries in the world. With its rich cultural heritage, it has been an active tourist spot in the world. With its number of activities and events coming around, it is a heaven for all the investor's constructors who want to start up their construction business in Dubai. It has the most strategic location for all the constructors who wish to set up their construction business. It has the most beautiful sites for residential and corporate infrastructures.
The construction sector not only includes the building of infrastructure but it also focuses on other aspects. Interior design, facades, curtains, mechanical engineering and plumbing (MEP), 3-D printings these all can be included in the construction industry
Dubai has many mega construction projects coming ahead of them shortly. According to the reports, the highest project valuation in all the Gulf Cooperation Council is accounted for approximately 319.1 billion USD. The ongoing projects related to Expo 2020 alone accounts for around AED 11 billion, that is USD 3 billion. The government of Dubai has approved a plan of USD 7.8 billion for the expansion of the Dubai International Airport. It has also adopted a redevelopment project worth USD 6.8 billion, of the Abu Dhabi International Airport.
The government has put a lot of effort to the increase in diverse construction projects. In the next five years, the construction industry will face a drastic growth in its investment sector. It is expected to have an annual growth rate of 4.64 per cent during 2019-2023. Dubai is expected to reach USD 101.2 Billion by the coming year 2023.
Government Initiatives that can cause a considerable rise in the Construction Industry in the coming years in Dubai:
- Ministry of Education Strategic Plan 2017-2021.
- The National Strategy for Higher Education 2030.
- Education 2020 Strategy.
- The Energy Strategy 2050.
- The Sheikh Zayed Housing Programme.
- The Dubai Tourism Strategy.
Dubai also hosts one of the most significant construction events in the Middle East. Here all the countries across the globe can come to present their construction ideas under one roof. One of Dubai's most prominent construction events is “The Big 5”. This year the show will be hosted from 26 to29 November. In the last year’s show, Dubai welcomed nearly 2,600 exhibitors and 79,000 participants. It is one of the reasons why you should invest in the construction business in Dubai. If you are thinking to start a construction company, then Dubai is the best location for your business.
All You Need to Know About a Construction Company in Dubai
With its tremendous scope for business, Dubai is the most emerging emirate to start a construction company. With Dubai's goal to achieve a smart and sustainable city, it is a prominent place to start your construction company. To set up a construction company in Dubai, you have to follow specific steps.
- Decide on a location
- Verification from the Department of Economic Development (DED)
- Obtain a commercial license and building permit
- Evaluation of the place of construction
- Assessment of soil and construction site
- Obtain building license from Dubai Municipality for any development in mainland
- Obtain G+1 permit for any structure in the free zone
- Other required licenses
- Civil works permit
- Permit from roads and transport authority
- All the construction drawings and designs must be approved from the concerned authority
- No Objection Certificate from the Dubai Civil Defence
- Building completion certificate, which allows the use of building after construction
Dubai has the most booming sector for the construction industry. If you are planning to set up your construction business in Dubai and want to know how to proceed with the formalities, then we are here to help. We at commitbiz help you solve all your queries. Contact us we are here to help.
