The UAE real estate sector is expected to grow as the consumer confidence is increasing in the property market. Furthermore, there is good news that the economy has stabilized which will increase the demand for property in the UAE. The growth of specific sectors such as hospitality industry also contributes to the increase in the real estate market. The economy has transformed the country into a regional trading powerhouse. Many international and local companies have established their bases in the country due to the low taxes and investment friendly environment. This helps to enhance the profitability and growth of the real estate sector in the country.
The consequences for engineering companies will be that there is increased number of projects. Commercial, office, residential, and hotel sectors are the ones that are likely to grow. Engineering companies need to have the proper licenses and strategies to ensure that they can profit from the growth. Additionally, the engineering companies in UAE need to have optimum strategies for long term growth and development. The use of integrated approaches will ensure that high levels of success can be attained within short time period.
The growth of the real estate sector is beneficial to the economy as it allows foreign investment to come to the country. The growth in trading and business will facilitate the transformation of the country. It is through optimized strategies that long term growth and success can be attained within short time. The engineering companies in UAE need to be augmented so that they will be able to contribute towards the growth. They must have adequate marketing plans that can successfully respond to problems in a decisive manner.
