Emirates NBD’s latest report on GCC project spending reveals that the UAE’s project investment landscape remains strong, with a potential project pipeline valued at $659 billion. Drawing from MEED data, the report highlights that future spending in the UAE is primarily concentrated in Abu Dhabi and Dubai, which continue to spearhead the country’s growth in infrastructure and development.

A total of $336 billion is allocated to budgeted projects, while $323 billion remains in the planning stages, reflecting a robust pipeline of upcoming initiatives. Currently, $222 billion worth of active projects are underway, primarily concentrated in the two major emirates. The value of project contracts awarded in 2024 remained strong, with $83 billion in new contracts. This follows a similarly impressive performance in 2023 when the UAE saw $93 billion in contracts awarded.

The report also highlights a remarkable 99% year-on-year increase in project awards in 2023, signaling a significant acceleration in infrastructure and development activities. Energy and utilities projects dominate the pipeline, accounting for $388 billion of the total value, followed by major investments in transportation and real estate. The ongoing focus on energy transition is evident, with greenfield projects becoming more prevalent, particularly in the sustainable energy and utilities sectors.

Public-private partnerships (PPP) have gained momentum, with a notable shift toward collaboration between government entities and private sector players. The UAE is prioritizing a diversification strategy, with substantial investments to advance sustainability and environmental goals, in line with the global push toward greener infrastructure and energy sources.