NIP to enhance competitiveness of UAE's construction sector

A regional hub for manufacturing companies, NIP strengthens the UAE’s Dh314 billion construction sector



In 2021, the construction sector generated more than 13.3 per cent of the UAE's total revenue, contributing over Dh314.41 billion to the national economy.
In 2021, the construction sector generated more than 13.3 per cent of the UAE's total revenue, contributing over Dh314.41 billion to the national economy.
by

Muzaffar Rizvi

Published: Tue 6 Dec 2022, 2:27 PM

The construction sector is one of the most significant contributors to the UAE’s economy by generating thousands of jobs in the country, a senior official says.

Citing data from Kamco Invest, Abdulla Al Jasmi, head of NIP, said, the construction sector will continue to support the UAE economy as projects worth approximately Dh540 billion are in the pipeline.

Referring to latest data, he said in 2021 the construction sector generated more than 13.3 per cent of the UAE's total revenue, contributing over Dh314.41 billion to the national economy.

"The sector is by far one of the most vital contributors to the UAE’s economic growth. Its performance significantly impacts the progress of various other sectors," he said.

Legal compliance

Al Jasmi said the construction industry relies heavily on legal framework and efficient engagement with regulatory authorities.

"By providing building material companies operating in NIP with mainland licences, we enable them to execute their projects while complying with the law of the land," he said.

He said NIP serves as a regional hub for manufacturing through a state-of-the-art infrastructure favourable for construction businesses to carry out operations.

"Backed by a strategic location, and DP World’s logistics and trade corridors; building materials and construction companies are offered unmatched connectivity and are governed by local market regulations. Companies operating in NIP can capitalise on product delivery from factory to last mile with direct access to UAE local market without intermediaries, distribution partners, etc," Al Jasmi concluded.

— muzaffarrizvi@khaleejtimes.com


More news from Business