New Market Study Published: United Arab Emirates Infrastructure Report Q2 2011

Fast Market Research recommends "United Arab Emirates Infrastructure Report Q2 2011" from Business Monitor International, now available
 
April 18, 2011 - PRLog -- BMI View: We have revised our 2010 estimates slightly and are pencilling in near zero growth and a moderate rise in nominal industry value. Steep deflation in the construction sector over 2009 due to the fall in raw material and labour prices has distorted real growth figures for the year, but we believe that this anomaly has been corrected with the normalisation of raw materials prices. We anticipate that 2011 will be the year the UAE's industry shakes off the effects of Dubai's downturn, and the value of the infrastructure and construction sector returns to a normalised growth trajectory. Growth will be moderate and sustained mainly by investments in Abu Dhabi.

Our core views regarding the UAE remain the same. While we have become more bearish in our estimates, we still maintain that the fundamental driver of growth will be Abu Dhabi. We also believe there are opportunities for continued growth in water, power and large industrial construction. South Korean firms have established a strong presence in the UAE and recent moves have ensured that they have strengthened that foothold.

* The first tangible steps towards the implementation of the Union Railway freight project were taken with the award of the consultancy contracts. So far the project has not experienced any delays in procurement, a positive sign for its overall planning.
 * The financial closure for the Shuweihat 3 independent power project (IPP) further reinforces Abu Dhabi's position as a major growth market for utilities. The Japanese sponsors are going to bring the project online in 2014 adding another 1,600MW to Abu Dhabi's power capacity.
 * Abu Dhabi firmly remains at the forefront of infrastructure developments, with the implementation of the long-term Vision 2030 plan fuelling the growth of the infrastructure sector.
 * Building materials prices normalised over 2010 as suggested by declining deflation in the construction sector.


In BMI's 'Q211 UAE Infrastructure Report' we forecast that industry value will reach AED71.6bn (US$19.48bn). This growth will be fuelled largely by Abu Dhabi and to a lesser extent by transport infrastructure projects in Dubai, such as the Green Line metro project, the Al-Maktoum International Airport and the expansion of Dubai Airport. However, the collapse of the Dubai property market is still leaving a mark on the construction companies most active in the emirate. Australia's Leighton had to take a US$535mn impairment charge in the value it carried for Al Habtoor Leighton (it's ME JV) in its books.

Official annual data for 2009 are yet to be published, but a study from the Abu Dhabi statistics centre found that steel prices in Abu Dhabi witnessed an average decline of 44% and concrete prices fell by 13.5% over 2009. This reinforces our estimates for 2009, which indicate that construction industry value real growth slowed quite abruptly over the same period.

The Risk/Reward score in BMI's Middle East Business Environment Ratings for the UAE remains favourable, in spite of the fall in score in the Industry Rewards category following the downgrade in forecasts. On a structural level, the development of the emirates' infrastructure has left a highly positive legacy, having promoted sophisticated local players and a highly competitive base which is ripe for development, a factor that is quantified by very strong scores for the Industry Risks category. However, BMI is wary of the health of the domestic credit market, which is still reeling from the aftershock of Dubai World near collapse, and the economic recovery that is in part predicated on global macroeconomic factors. As such, the UAE is losing points in terms of Country Rewards and Country Risks.

For more information or to purchase this report, go to:
-  http://www.fastmr.com/prod/130658_united_arab_emirates_in...


Partial Table of Contents:

SWOT Analysis
- UAE Infrastructure SWOT
- UAE Infrastructure Project Finance SWOT
- UAE Economic SWOT
- UAE Political SWOT
Market Overview
- UAE
Building Materials
- Global Materials
- Building Materials: Global Demand to Hit New Highs In 2011
- Asia to accelerate in 2011
- Table: World's top steel producing countries (million metric tonnes - mmt)
- Middle East Overview
- Key Markets To Bolster Building Materials Demand In 2011
Industry Forecast Scenario
- Table: UAE Construction And Infrastructure Industry Data, 2007-2015
- Table: UAE Construction And Infrastructure Industry Data, 2012-2020
- Construction And Infrastructure Forecast Scenario
Transport Infrastructure
- Transport Infrastructure Overview
- Key Projects - Transport Infrastructure
- Table: Major Infrastructure Projects - Transport
Energy And Utilities Infrastructure
- Energy And Utilities Infrastructure Overview
- Key Projects - Energy And Utilities
- Table: Major Infrastructure Projects - Energy & Utilities
Residential/Non- Residential Construction and Social Infrastructure
- Residential/Non-Residential Construction and Social Infrastructure Overview
- Key Projects - Residential/Non- Residential Construction and Social Infrastructure
- Table: Major Infrastructure Projects - Residential/Non-Residential Construction and Social Infrastructure
Business Environment
- UAE Business Environment
- Rewards
- Risks
- Regional Overview
- Middle East Infrastructure Business Environment Ratings
- Table: Regional Infrastructure Business Environment Ratings
Project Finance Ratings
- UAE Project Finance Ratings
- Design And Construction
- Commissioning And Operating
- Overall Project Finance Rating
- Regional Overview
- Project Finance Ratings: Outlook For Middle East
- Table: Design And Construction Rating
- Table: Commissioning And Operating Rating
- Table: Overall Project Finance Rating
Macroeconomic Outlook
- Table: United Arab Emirates - Economic Activity
Political Outlook
- Domestic Politics
- Long-Term Political Outlook
- Regional Politics
Company Monitor
- Arabtec Construction
- Dutco Balfour Beatty Group
- Al Habtoor Leighton Group
-

Full Table of Contents is available at:
-- http://www.fastmr.com/catalog/product.aspx?productid=1306...

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets.  BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports.  Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports.  View more research from Business Monitor International at http://www.fastmr.com/catalog/publishers.aspx?pubid=1010

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

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Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.
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