Around 90 percent of construction decision-makers in the United Arab Emirates (UAE) and Saudi Arabia feel optimistic about the market conditions, according to a Dubai-based property developer ZaZEN Properties.
They expect their projects to increase in value within the next year. These optimistic sentiments are fueled by technological advancement, digitalization, strong economic performance, favourable location, and a focus on sustainability.
Technology, particularly ChatGPT, has significantly impacted all industries, transforming how people live and work worldwide.
In the construction sectors of UAE and KSA, it is driving a digital renaissance that will continue to shape the industry in the coming years. Construction decision-makers in both countries are already increasing their investments in future technologies, with 80 percent reporting such investments in the last few months.
The widespread adoption of technology is expected to bring cost savings for developers, especially in off-plan projects. UAE has taken a leading role in promoting sustainability by implementing initiatives like the Dubai 2040 Urban Masterplan and UAE Net Zero 2050.
These initiatives aim to reduce carbon emissions and encourage green real estate. They support the country’s sustainability goals and contribute to global efforts.
UAE’s focus on sustainability is crucial given the recent rise in global average temperatures, which have surpassed a 1.5°C increase.
Via Arabian Business
