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New Market Study Published: United Arab Emirates Infrastructure Report Q3 2011

New Construction research report from Business Monitor International is now available from Fast Market Research

 
PRLog - Jun. 23, 2011 - BMI View: We have revised our 2010 estimates slightly and are pencilling in near zero growth and a moderate rise in nominal industry value for the UAE's infrastructure sector. Steep deflation in the construction sector over 2009 - due to a fall in raw material and labour prices - has distorted real growth figures for the year..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 investment in Abu Dhabi.

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Full Report Details at
- http://www.fastmr.com/prod/171442_united_arab_emirates_infrastructure_report_q3_2011.aspx
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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 joint venture (JV) between Russia's Inter Rao and UAE-based Crescent Investments creates another player that will have the technical prowess and financial muscle to compete for a slice of the Middle East's US$131bn power project market.
 *  Abu Dhabi-based energy firm Masdar has secured US$615m of bank financing for its Shams 1 concentrated solar power (CSP) project, which will be one of the world's largest solar plants as well as the first of its kind in the Middle East.
 * The tender for the Midfield Terminal at Abu Dhabi's International Airport has been released. This tender was one of the most eagerly awaited in the UAE and the progress of the project reinforces BMI's view that the strength of Abu Dhabi's infrastructure will greatly enhance the prospects for the regional market.
 *  The Mafraq-Ghweifat highway public private partnership (PPP) hangs in the balance at time of writing, with reports in MEED that the government of Abu Dhabi is considering alternative procurement methods. This is the first PPP of its kind in the UAE, and the cancellation could be a blow for the prospects of major transport PPPs.


In BMI's Q3 UAE Infrastructure Report we have maintained the same construction industry value forecast for 2011 (AED69.2bn) as last quarter, but because BMI's inflation forecasts for 2011 have been revised downward our real growth rate has increased from 2.8% to 3.5%. 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) on 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.

The Risk/Reward score in BMI's Middle East Business Environment Ratings for the UAE remains favourable, in spite of the fall in the score for Industry Rewards 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.

Report Table of Contents:

SWOT Analysis
- UAE Infrastructure SWOT
Market Overview
- UAE
Building Materials
- Global Materials
- Middle East Overview
Industry Forecast Scenario
- Table: UAE Construction And Infrastructure Industry Data
- Table: UAE Construction And Infrastructure Industry Data
- 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: Middle East Infrastructure Business Environment Ratings
Company Monitor
- Arabtec Construction
- Dutco Balfour Beatty Group
- Al Habtoor Leighton Group
- Drake & Scull International
- Veolia Water
- Suez Environnement
Global Overview
Methodology
- Industry Forecasts
- Construction Industry
- Data Methodology
- New Infrastructure Data Sub-sectors
- Construction
- Capital Investment
- Construction Sector Employment
- Infrastructure Business Environment Rating
- Table: Infrastructure Business Environment Indicators

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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Tags:Infrastructure, uae, dhabi, abu, construction, dubai, implementation, airport, rewards, indicate
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