Middle East project pipeline value exceeds $3.9 trillion in 2024

Construction project market continues to grow in the Middle East, driven by the development activities in Saudi Arabia, the UAE, Oman, Qatar and Egypt – that represent the largest construction markets in the Middle East. As of the first quarter of 2024, the construction project pipeline value in the UAE reached US$590 billion (Dh2.16 trillion), or 15 percent of the regional total, according to a recent report by Jones Lang LaSalle (JLL).

Residential projects are projected to account for US$125 billion (21%), while mixed-use projects represent US$232 billion (39%). In 2023, the number of awarded projects in the UAE reached US$87 billion compared to US$31 billion in 2022, demonstrating significant progress in the nation’s economic diversification and investment, it said.

According to the Middle East Economic Digest (MEED), the GCC alone has an astonishing projects pipeline in excess of US$2.7 trillion, with Saudi Arabia comprising US$1.5 trillion of this total.

Build Well, a construction and building materials company that specialises in the supply and installation of fire-rated steel doors, architectural hardware (ironmongery), and various high-quality building materials for the construction industry, is growing its footprint across the Middle East and the world with eight offices that will help it to support the $3.9 trillion (Dh14.3 trillion) construction projects industry in the Middle East.

Build Well currently has bases in Lebanon and Kuwait, while it expanded its regional footprint with offices in Saudi Arabia, Qatar and the UAE as well as its global offices in the United Kingdom and the United States.

“As the construction services business grows due to increased demand driven by infrastructure, housing and real estate sectors, Build Well has also expanded its operation in the GCC with multiple offices to cater to growing needs of high-quality, durable, cost-effective, green and sustainable products in the Middle East region,” Raji Maalouf, Chief Executive Officer of Build Well Co., says.

“As a construction-focussed business, we bring the latest environmentally-friendly innovative and sustainable building materials, products and technology that enhances the life cycle of the buildings and reduces carbon footprint.

Build Well primarily targets large business contractors (B2B), particularly those involved in commercial, industrial and residential projects.

Build Well serves large contractors, architects, business contractors, developers, and government entities involved in major construction projects. It brings some of the latest and innovative fire-rated steel doors that are certified to meet stringent safety standards, highlighting the company’s commitment to safety, product quality, and regulatory compliance.

Raji Maalouf, an accomplished architect and a business leader with more than two decades, says, “As market opportunities increases due to a growth in the construction activities, we see opportunities include the expansion of new large-scale projects in Dubai and other Middle East regions. The key challenge is the high level of competition within the market from other suppliers of fire-rated steel doors and architectural hardware.

“Build Well is focused on enhancing its market reputation by emphasizing its certified products, commitment to safety, and high-quality customer service. Build Well differentiates itself through its focus on product quality, certified fire-rated products, compliance with safety standards, and exceptional customer service.”