Construction Sector in UAE
When it comes to listing some of the flourishing economies in the world, one just can’t ignore the United Arab Emirates. As per a statistical data, UAE has an economic freedom score of 71.4, placing it on the 28th position in a list of free economies in the 2014 index. The country offers a better labor freedom, business freedom, and monetary freedom. This freedom quotient is completely free from the declines in the control of government spending and freedom from corruption.
The wealthier Oil & Gas sector and economic diversification initiatives to promote non-oil sectors or the private companies have been on a roll and thereby the idea has pulled in a lot of foreign investors. These investors have incurred in a lot of money in building up the private sectors and giving rise to a better employment market.
Apart from the regular Oil & Gas sector, there is Construction & Real Estate sector that has led to heavy revenue generation and a source of better job prospects for both expats and nationals. Let us discuss the prosperity factor of the industrial sector:
Global Reports & News Pieces on UAE Construction sector
A recent news published on a portal catering to market intelligence service provider, the construction industry in the UAE is set to flourish at a good pace in the upcoming quarters of 2014. The government of UAE has inked several treaties and has come up with a number of projects that will catapult the infrastructural facet of UAE, completely.
The same news piece also revealed that the construction industry has left behind other flourishing sectors like Oil & Gas and Power with total construction projects reaching a whopping $38 billion in 2013. The good news here is that the number of projects is likely to increase by good number in the coming quarters of 2014 as well.
Government Policies on Construction sector
The government of the UAE has dished out favorable policies that have given permission to the non-UAE national freeholds. This has in turn paved a way for Foreign Direct Investment (FDI) in the construction sector and the investors are showing interest in signing projects with UAE and thereby acquiring properties across the country, thereby contributing to the growth of the construction sector.
UAE Employment Market: Is It the Next Big Thing?
Apart from the fact that foreign investors taking interest, it’s the high migration rate that has pushed the construction domain to new heights. The city is experiencing infrastructural makeover at a very high pace. This has created a lot of employment opportunities for site engineers, workers and shop-floor employees.
Another contributing factor that will create a plethora of jobs in here is the World Expo Bid win by Dubai. In order to make the event successful, the construction domain is ‘burning the midnight oil’ to structure better infrastructure, roads and housing facilities for the guests of honor from different countries who will be visiting Dubai, UAE to participate in the mega event.
As per a report published in favor of the upcoming world expo on a global recruitment consultancy website, the bid is expected open doors to welcome some of the excellent employment opportunities in UAE in the construction industry. Moreover, the report also reveals that these upcoming favorable jobs in construction domain will offer seekers a salary surged by 20%.
If you are a job seeker with engineering or designing background and are ready to relocate to any country; then UAE is the best deal here. The construction industry is surely going to offer some of the high-paying jobs in UAE and that too with revised and surged salary slabs.
Vineeta Tiwari is a professional writer and blogger, who closely follows the global employment markets and economies. Currently, she is focusing on of GCC and Middle East job market. Her articles offer insights to readers who are set for a career change or switch in such regions and provide them researched information on how to achieve that.