Nearly $2.39 trillion worth of projects are being planned and un-awarded in the GCC despite recent challenges, according to DMG events, organisers of The Big 5 construction show.
The region's construction sector alone represents 65 per cent of the future pipeline with projects valued at $1.56 trillion. According to The Big 5's Data & Research Partner, Meed Projects, despite the recent short-term upheaval, the longer-term outlook for the market remains largely positive.
Josine Heijmans, vice president – Construction at DMG events, said the data offers huge opportunities for the adoption of new technology and systems in the market. “The construction sector is a vital contributor toward economic growth across the region and smart construction is well poised to drive its strong rebound following the Covid-19 pandemic.”
Heijman said more than ever the industry now needs to take advantage of the increased efficiency, sustainability and improved quality that new technologies offer. “That's why The Big 5 puts the spotlight on technology this year with a wealth of features dedicated to promoting digital transformation of the industry.”
According to the exhibition organisers, the show running at the Dubai World Trade Centre from September 12 –15, focused on building technology in response to increased demand for smart construction. Promotion of smart construction has increased at The Big 5 this year, marking a positive shift towards digitalisation in the sector.
The Big 5 incorporates a technology focus through its broad offering of product showcases, high-level summits, and free-to-attend certified talks, including the all-new Digital Construction World, Intelligent Buildings and Offsite & Modular product sectors, Start-Up City, and the exclusive FutureTech Construction Summit.
One of the speakers at the FutureTech Construction Summit and Director at Heriot-Watt University's Centre of Excellence in Smart Construction, Dr Anas Bataw said that the Covid-19 pandemic forced the industry to slow down and provided the opportunity to reflect on the improvements required for the construction industry to rebound quicker and better.
“With the growth of the construction industry over the past few months, smart construction practices such as the use of digital technologies are particularly important as it will accelerate and automate the way we design, build and operate. In fact, the World Economic Forum estimates that full-scale digitalisation could unlock savings between $700 billion and $1.2 trillion in design, engineering, and construction industries within ten years,” said Bataw.
Other high-level summits at The Big 5 this year include the "Global Construction Leaders' Summit," and the "Future of Facades Summit," each designed to shed light on crucial developments in the construction sector and long-term opportunities on the horizon. The popular free and CPD-certified talk series will continue at the event, with 70 sessions set to cover vital industry topics.
The event witnessed participation from over 1,000 exhibitors from 45 countries and 20 country pavilions and has recently opened an online networking and meeting facilitation add-on to help organisations kick-start their experience wherever their location