Four trends offering an optimistic outlook for the construction sector in 2022 – Construction Week Online

Four trends offering an optimistic outlook for the construction sector in 2022 – Construction Week Online

Following the challenges and uncertainty of 2020, the Middle East construction market showed strong recovery in 2021. Although the sector has not yet returned to pre-pandemic contract volumes, many projections for 2022 are very promising.

With oil prices starting the year above $80 a barrel for the first time since 2018, regional market sentiment is strong. In the construction sector, this is expected to ‘open the taps’ on several infrastructure and development projects in the region, particularly from the public and quasi-government sectors.  The largest markets remain the UAE and Saudi Arabia, with national plans such as Saudi Vision 2030 continuing to drive opportunities. And in the UAE, government initiatives have successfully attracted a lot of foreign investment into the country, particularly in the real estate sector. Coupled with this, Abu Dhabi continues to push forward with major cultural and leisure projects as part of its Vision 2030 with the notable award of the Guggenheim Museum at the end of 2021.

With plenty of reason for optimism in 2022, here are four key trends that I see shaping the industry in the year ahead.