$14.41 trillion global construction sector by 2030

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Riyadh Bsaibes, President and CEO of Amana Investment Group, said: “After hosting the highly successful Expo 2020 Dubai, the UAE is accelerating its steps towards economic prosperity, and its economy is expected to grow over the next ten years. While digitization is an essential pillar to harness future growth opportunities, technology plays a particularly key role in the construction sector due to its importance in the areas of planning, monitoring, staffing and ensuring that projects are delivered on time.”

Riyadh indicated that the value of the global construction and construction sector is expected to reach $14.41 trillion by 2030, achieving a compound annual growth rate of 7.3% from 2022 to 2030. The construction sector in the UAE is also expected to be impacted by 4.2% in 2022 due to Expo 2020 and investments in tourism, hospitality and public infrastructure projects.

In the construction sector, drones have helped significantly improve construction efficiency by reducing time, risk and the need for on-site manpower. As well as its role in drawing accurate maps and 3D models and improving the levels of safety and security for workers on construction sites.

But all this is just the beginning, as the success of the construction sector now depends mainly on the use of building technologies that are connected across the value chain, meaning that assets, people and operations are integrated through one smart and secure platform.

Currently, the construction sector is still loose, with many architects and contractors working alone and using traditional building and construction techniques. Which can sometimes affect the integration of the project, but on the other hand it can be an opportunity for wider adoption of digitization in this sector.

Respond to digital trends
Administrators need to explore smarter ways to take advantage of digital opportunities. Although financial constraints and lack of training may in some cases affect the sector’s march towards digitization, project managers should take advantage of the programs available to make their construction work more interconnected and resilient, both internally and externally.

Once they use the software, they will discover how the Internet of Things can simplify the acquisition, distribution and tracking of goods and services. Cutting-edge technology, such as Building Information Modeling (BIM), improves efficiency by saving time and reducing costs. It enables collaboration through cloud and network-based servers and improves coordination between teams and clients to get the project done.

Building Information Modeling (BIM) technology enabled us to design our major projects in Saudi Arabia for the Red Sea Development Company in an integrated manner. Our project delivery team worked with engineers in different offices and countries to design and build in real-time, which will enable us to deliver the project in record time.

Riyadh added: “Prefabricated modular construction is superior to conventional construction as it offers benefits that include reducing material waste by up to 30% and increasing worker safety levels by up to 70%, compared to conventional construction. But its role in reducing the need for manpower by up to 30% makes it the ideal solution to overcome the problem of labor shortage. Meanwhile, the central procurement unit within the factory eliminates the problem of cost overrun of building materials, improves delivery time and lowers logistics costs.

To make the most of the ecosystem of interconnected building techniques, the techniques mentioned above should be used to ensure a two-way flow of data to internal and external teams. Here, the importance of adopting techniques that strengthen the bonds of cooperation between different departments cannot be ignored, because of their effective role in improving operational efficiency and transparency, reducing errors and helping to complete projects successfully.

Connection in construction
Bsaibes emphasized that the construction sector must look beyond obvious benefits such as cost and efficiency. Bonding in construction offers many environmental benefits. EV and PropTech charging stations, smart home solutions, renewable energy sources, integrated facility control services and IoT and SaaS-based platforms improve the energy efficiency of existing facilities.

In particular, prefabricated construction ensures minimal disturbance to the surrounding environment compared to traditional building practices. For example, DuBox (affiliated with Amana Prefabricated Design and Off-Site Concrete Construction) has converted 80 percent of its traditional business activities into a controlled manufacturing facility, reducing the need for on-site manpower, an ideal post-COVID solution. -19.

In addition, regular, simplified and standardized plant operating procedures increase the levels of safety, health and hygiene in the work environment, and reduce waste rates as on the construction site. There is no doubt that such solutions can change the laws of the sector in the field of the construction of sustainable buildings and the preservation of the environment, because they significantly reduce carbon emissions.

As the GCC countries accelerate their transition to a carbon-neutral future, the construction sector plays the biggest role in achieving the circular economy agenda, as it accounts for a third of the world’s carbon emissions. Most importantly, industrial construction helps countries achieve their carbon neutral goals.

As the UAE looks to move forward at a steady pace, the construction sector is poised for massive growth in the future. Innovation, adoption of new technologies such as artificial intelligence and robotics, and a shift towards sustainable practices will put the construction sector on a fast track of growth, in line with the ambitions of the Gulf Cooperation Council countries to achieve the value of their economies . reach a trillion dollars by 2025 through sustainable urban development.


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