The construction project market in the Middle East is experiencing robust growth, fueled by significant development activities in key countries such as Saudi Arabia, the UAE, Oman, Qatar, and Egypt. These nations collectively form the largest construction markets in the region. As of the first quarter of 2024, the construction project pipeline value in the UAE has surged to US$590 billion (Dh2.16 trillion), accounting for 15 percent of the regional total, as reported by Jones Lang LaSalle (JLL).
Residential projects are expected to constitute US$125 billion (21%) of this total, while mixed-use projects are projected to represent US$232 billion (39%). In 2023, the value of awarded projects in the UAE reached US$87 billion, a substantial increase from US$31 billion in 2022, reflecting the nation's progress in economic diversification and investment.
According to the Middle East Economic Digest (MEED), the GCC region alone boasts a staggering projects pipeline exceeding US$2.7 trillion, with Saudi Arabia contributing US$1.5 trillion to this total. Build Well, a specialized construction and building materials company, is expanding its presence across the Middle East and globally. With eight offices, the company aims to support the $3.9 trillion (Dh14.3 trillion) construction projects industry in the Middle East.
Currently, Build Well operates from bases in Lebanon and Kuwait, and has extended its regional footprint with offices in Saudi Arabia, Qatar, and the UAE, as well as global offices in the United Kingdom and the United States. "As the construction services sector grows due to increased demand from infrastructure, housing, and real estate sectors, Build Well has expanded its operations in the GCC with multiple offices to meet the growing demand for high-quality, durable, cost-effective, green, and sustainable products in the Middle East," says Raji Maalouf, Chief Executive Officer of Build Well Co.
"As a construction-focused business, we introduce the latest environmentally-friendly innovative and sustainable building materials, products, and technology that enhance the life cycle of buildings and reduce carbon footprint. Build Well primarily targets large business contractors (B2B), especially those involved in commercial, industrial, and residential projects. We serve large contractors, architects, business contractors, developers, and government entities engaged in major construction projects." Build Well offers some of the latest and innovative fire-rated steel doors certified to meet stringent safety standards, underscoring the company's commitment to safety, product quality, and regulatory compliance.
Raji Maalouf, an accomplished architect and business leader with over two decades of experience, notes, "As market opportunities increase due to the growth in construction activities, we see potential in the expansion of new large-scale projects in Dubai and other Middle East regions. The main challenge is the high level of competition within the market from other suppliers of fire-rated steel doors and architectural hardware." "Build Well is dedicated to enhancing its market reputation by emphasizing its certified products, commitment to safety, and high-quality customer service. We differentiate ourselves through our focus on product quality, certified fire-rated products, compliance with safety standards, and exceptional customer service."
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