In the United Arab Emirates (UAE) and the Kingdom of Saudi Arabia (KSA), around 90 percent of construction decision-makers feel optimistic about the market conditions, according to Dubai-based property developer ZaZEN Properties.
Their optimistic sentiments, fueled by technological advancement, digitalization, strong economic performance, favourable location, and a focus on sustainability, make them expect an increase in the value of their projects within the next year.
Transforming how people live and work worldwide, technology, particularly ChatGPT, has significantly impacted all industries.
It is driving a digital renaissance that will continue to shape the construction industry in the UAE and KSA in the coming years. Construction decision-makers in both countries, with 80 percent reporting investments in the last few months, are increasing their investments in future technologies.
Especially in off-plan projects, the widespread adoption of technology is expected to bring cost savings for developers. By implementing initiatives like the Dubai 2040 Urban Masterplan and UAE Net Zero 2050, the UAE has taken a leading role in promoting sustainability.
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.
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