Tactical opportunities remain for UAE construction – MEED

Tactical opportunities remain for UAE construction – MEED

Ras al-Khaimah's tourism sector has performed strongly thanks to UAE residents taking staycations

Over supply and the Covid-19 pandemic have dampened the ambition of projects in the UAE. In place of the sprawling masterplanned projects of the past promising an abundance of work, tactical opportunities are now driving the market, and while they are smaller in scale, they are producing real opportunities.

One example of a tactical opportunity is Ras al-Khaimah’s tourism sector. Over the past year, hotel properties in the Northern Emirates have performed well thanks to people living in the UAE taking staycations because they are unable to overseas. This has propped up occupancy rates and driven up room rates, which has given developers the confidence to move ahead with projects.