Dubai Construction Gears Up for a Transformative Shift in 2024
Dubai's construction market is set for a significant shift in focus from real estate to public infrastructure projects in 2024, with an expected increase in construction spending.
The Dubai government plans to allocate 8% of total expenditures to construction projects, signaling its commitment to developing infrastructure and strategic development initiatives.
The shift follows years of emphasis on the real estate sector and off-plan residential projects. The change is evident in the budget statement for 2024, with AED6.328 billion ($1.72 billion) earmarked for construction, a 34% increase from 2023. Major projects include the Dubai Metro's Blue Line.
