Countrywide growth seen for VT, while construction remains focused on Dubai.
Market Poised for Nearly 5% Growth
A projection from global market research company 6Wresearch foresees a compound annual growth rate (CAGR) of 4.7% in the U.A.E. vertical-transportation (VT) market through 2024, Trade Arabia reported in April. In a report titled “UAE Elevator and Escalator Market (2018-2024),” 6Wresearch cites several factors contributing to the boom: growing acceptance of elevators in the residential sector; the increasing height of buildings; and more than US$200 billion worth of infrastructure projects in conjunction with World Expo 2020. Also cited were increasing numbers of tourists, especially in Dubai, which has led to the construction of new hotels.
The U.A.E. VT market has seen sluggish growth over the past four years, the report said, because of government currency policies and a construction slowdown. Increased government spending and an inflow of foreign direct investment in the construction and retail sectors are expected to help boost the need for elevators and escalators, the report said.
Work on Fifth-Tallest Building to Start This Year
Construction is scheduled to begin in Dubai this year on what will be the world’s fifth-tallest building, ConstructionWeekOnline.com reported in March. The 122-story, 570-m-tall tower, being developed by Azizi Developments at a site on Sheikh Zayed Road, will house residential apartments, topped by 22 floors for a luxury hotel. The developer is in consultation with architectural firm Atkins to finalize the design and plans to begin construction in the third quarter.
The AED3-billion (US$816-million) skyscraper is scheduled for completion between 2021 and 2022, though Azizi is hoping to deliver the building on a fast-track basis, as quickly as 39 months.
Ground Prep Bids Sought for Palm Jumeirah’s Tallest
Dubai property developer Nakheel was seeking ground preparation proposals for PALM360, a two-tower luxury hotel and residential project that will be the tallest building on Dubai’s Palm Jumeirah, the Arab News reported in March. The 260-m-tall development will include Raffles The Palm Dubai Hotel and Raffles Residences PALM360, according to the developer. Among the amenities will be a sky pool — said to be the world’s largest — that will connect the two towers. The hotel will have 125 rooms, and there will be 331 Raffles-branded residences, including 16 penthouses that each will have an infinity pool, gym, home theater and 360° view of Dubai. A tender for construction of the development is to be released later this year, and completion is targeted for 2021.
Nakheel has been behind many of Dubai’s landmark developments, including the Palm Jumeirah itself and The World project, which features 300 manmade islands, just off the coast of Dubai, shaped to represent the continents.
Alimak BMUs for Centerpiece of Expo 2020 Dubai
Cimolai Rimond Middle East has placed an SEK32-million (US$3.8-million) order with Alimak Group for its CoxGomyl building maintenance units (BMUs) to maintain and clean the special fabric elements that form the external skin of Al Wasl Plaza, the centerpiece of Expo 2020 Dubai. Designed by Adrian Smith + Gordon Gill Architecture, the structure will be topped by a dome trellis structure 67.5 m tall and 130 m wide. When finished, it will consist of 13,600 m of intricate steelwork and weigh 2,265 mT. Alimak’s CoxGomyl will supply, install, test and commission the BMUs, with delivery anticipated by mid 2019.
40-Story Residential Tower in Dubai Forges Ahead
Shoring, piling and excavation have been completed for the 40-story MB Residence in Dubai’s Jumeirah Lakes Towers waterfront community, putting the project on track for completion in late 2019, ConstructionWeekOnline.com and Arabian Business reported. MAG Lifestyle Development, the development arm of MAG Group, in a deal with Ali Mousa & Sons Contracting, has completed 20% of construction since July 2017. MAG CEO Talal Moafaq Al Gaddah said that MAG’s “meticulous approach to timely project delivery” resulted in completion of the enabling works. When completed, MB Residence will have 472 apartments, as well as amenities such as a gym, sauna and outdoor swimming pool.