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UAE’s construction sector has shown robust growth via a 54% increase in activity in Q2 of this year
DHG Properties, a Swiss real estate developer renowned for its legacy of over three decades, has completed 15% of construction for its latest development, Helvetia Residences, in Jumeirah Village Circle (JVC).
This progress places the firm on track to deliver its project in Q2 of 2026 with more than 50% of the 430-unit development already sold.
The UAE’s construction sector has shown robust growth via a 54% increase in activity in Q2 of this year.
With the value of awarded projects rising from $31 billion in 2022 to $87 billion in 2023, it reflects a significant boost in economic diversification and investment. In 2024, the sector is expected to grow by 4.6%, strengthened by substantial private investments in housing and large-scale projects; with government support also being one of the key catalysts, with an 8.3% increase in 2024 budget allocation for UAE’s infrastructure totalling $708 million.
Looking to the future, the construction industry is projected to achieve an average annual growth of 3.8% from 2025 to 2028 , backed by continued investments in sectors such as housing, transport and renewable energy projects.
As an off-plan development, growing interest in Helvetia Residences aligns with recent market data that showcases a surge in activity across Dubai’s real estate market. In August 2024, total overall real estate transactions in the emirate reached AED 8.6 billion and the off-plan segment maintained its dominance; contributing AED 5.93 billion, or 69.2%, of all activity.
In contrast, ready properties accounted for AED 2.63 billion, equivalent to only 30.8% of the total transactions. |
