Construction, realty to lead Dubai economy

The construction and real estate sectors are poised to become the lead contributor to Dubai's GDP by 2030, according to NEERAJ MISHRA*, Founder and CEO of UAE-based developer AMIS Development.

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THE real estate and construction sectors are on the cusp of surpassing long-established economic pillars like wholesale trade, potentially becoming the number one contributor to Dubai’s GDP in the next five years.

According to the latest data from the Dubai Statistics Centre, the construction sector alone represents 6.6 per cent of the city’s GDP, contributing AED7.17 billion ($1.95 billion). Real estate activities add a further 8.1 per cent, amounting to AED8.77 billion. Combined, these two sectors account for 14.7 per cent of Dubai's GDP, underscoring their growing importance in shaping the city’s economic future. This combined total now surpasses key sectors such as financial and insurance activities (10.3 per cent), transportation and storage (10.1 per cent), and manufacturing (8.6 per cent).

In contrast, wholesale and retail trade — including the repair of motor vehicles and motorcycles — which currently leads Dubai’s GDP at 26 per cent, is experiencing slower growth, registering just 3.4 per cent. While wholesale trade has long been a cornerstone of Dubai’s economy, its growth rate may have plateaued, with slower expansion compared to construction and real estate.