Top 10 ongoing residential projects plug USD 21.6 BN into UAE construction market
The top 10 ongoing projects in the residential building sector are contributing an estimated USD 21.6 billion to the local construction market, according to the latest Ongoing Residential Building Projects in The United Arab Emirates report prepared by the BNC Network, for the largest construction event in the Middle East – The Big 5. Six out of the 10 listed projects are being developed in Dubai, with others adding great value to Emirates such as Abu Dhabi, Sharjah and Ras Al Khaimah.
The BNC report reveals UAE residential projects in order of estimated value, showing Dubai as the highest ranking contributor:
1. The Villages - Dubai South
The USD 6.8 Billion Dubai South residential villages stand at the top of the BNC list in value. With completion estimated in late 2022, the five community-based settlements will feature around 20,000 units. The project will also include educational, retail, and healthcare facilities in addition to a botanical garden and farms.
2. Aljada Residential City - University City
With an estimated completion of early 2025, the USD 6.5 Billion Sharjah based project involves the construction of a mixed-use development spread across 2,200,000 square meters. As well as an exclusive business park which will be built for the community, the central district will feature a children’s adventure complex, skate parks, an extreme sports centre and more.
3. Jebel Ali Gardens
Valued at USD 2 Billion and due for completion in early 2020, the mixed-use development from developer Nakheel will include 42 buildings and three mosques accommodating a total of 3,000 people. The project will also include 102,193 square metres of green, landscaped parks.
4. Mina Al Arab
The Ras Al Khaimah based project is expected to be completed in the third quarter of 2019. Valued at USD 1.3 Billion, plans include beach and waterfront apartments, villas and townhouses with a private beach clubhouse, dining and entertainment venues.
5. Entisar Tower
With an estimated completion date of mid-2020, the Entisar Tower is the only listed project to feature a boutique hotel – which will offer 444 services apartments. The mixed-use tower will stand 113 floors tall and alongside the hotel will house office and retail spaces. The project will also include a spa, indoor running track and tennis courts, multiple pools and Sky Gardens.
6. Meydan Heights South - Nad Al Sheeba 1
The USD 800 Million community has the earliest estimated completion date and will accommodate the general public as well as Emirates Airline pilots. The total 720,000 square meters covered will support 2,200 two-storey villas.
7. The Residences - Marina Gate
Due for completion in late 2019, the USD 796 Million projects involves the construction of three residential towers offering a total of 1,200 units. Tower 1 and 2 offers 881 residential apartments, 19 Penthouses and 18 duplex Marina Villas.
8. North Wathba District - Phase 1
The project in Abu Dhabi, valued USD 794 Million, involves the construction of a mixed-use development which will support 240 villas, three neighbourhood mosques, a dedicated Friday mosque, three schools, four neighbourhood parks and a retail community centre.
9. Staff Village - Dubai Logistics City (DLC)
Estimated to be completed by the close of 2018, the project involves the construction of 152 residential complexes reach comprising a basement level, a ground floor, mezzanine floor and five additional floors that will accommodate 52,000 staffs.
10. Villa Complex - Al Helio 4
Worth USD 750 Million, the Ajman-based community project will consist of 1,504 villas each comprising a ground floor and 2 additional floors. The complex will offer a choice of two, three, four and five bedroom villas.
Portfolio Exhibitions Director for The Big 5, Josine Heijmans, evaluates that “Dubai alone accounts for over half the recorded developments in the UAE. With the UAE itself making up approximately 45% of on-going builds in the GCC, there is increased demand for the products and solutions that will be on show The Big 5 next month. The 2500+ construction industry suppliers coming to the exhibition from around the world have been attracted by the growing market in the region, and the potential which it offers.”
Running from 26 to 29 November at the Dubai World Trade Centre, the 38th edition of The Big 5 showcases 360-degree building solutions across five dedicated product sectors: Building Interiors & Finishes, Building Envelope & Special Construction, Construction Tools & Building Materials, Construct Technology & Innovation, and an MEP Services sector featuring an all new HVAC-R dedicated hall.
Additionally, the event offers a broad education agenda including the Excellence in Construction Summit, the 2017 Big 5 Innovation in Precast Summit, and over 70 free to attend and CPD-certified Big 5 Talks broken down into six themes to correlate with product categories: Business, Sustainability, Project Management, MEP, Architecture, Technology.
Organised by dmg events Middle East, Asia & Africa, last year’s edition of The Big 5 was the largest to date, attracting over 78,579 participants and 2,586 exhibiting companies from 59 countries.