Dubai’s iconic skyline welcomed several new additions in 2020, despite the Covid-19 pandemic leaving its mark on the construction sector, experts said.
Dubai’s world-famous skyline is joined by several new additions in the year 2020, rather than the fact that the whole world is facing a pandemic, it leaves its mark in the construction sector, experts advise.
Research by Council on Tall Buildings and Urban Habitat revealed that 12 buildings with a height of over 200m were recorded to be completed in 2020- which is the highest in comparison to any other country in the world. Experts concluded that this achievement indicates the strength of Dubai’s construction sector along with the interest from investors.
As stated by the Council on Tall Buildings and Urban Habitat’s 2020 in Review report, 2020 has given 106 completions of buildings whose recorded height was about 200m or more than this, which is lower than that of 2019 where the count was 133. The report noted that the decline in the count is not surprising in light of the Covid-19 pandemic, which took hold in the first quarter and then caused problems to a large number of projects all around the globe at various stages. The tallest building that was to be finished in 2020 was Central Park Tower in New York City at 472 meters. It was the first time in the last five years that the tallest building was not completed in China.
While reviewing it was stated in the study that China alone completed more than half of the total buildings. With about 56 skyscrapers, the country was leading according to the study. The UAE, which has completed twelve 200-meter-plus buildings, takes second place; then comes the United States with 10, and also the United Kingdom with 5.
The tallest building which was completed in 2020 was SLS Dubai with a 336m height. After which comes Amna Tower with 307m height and Jumeirah Gate with 308m height. Dubai still has its crown of being the city with the tallest building in the world- a position which it earned in 2010 with the construction of 828m Burj Khalifa. Then comes the second tallest building in the city which is Marina at 425m height and also Princess Tower with 413.4m height.
Over the last few years, Dubai has done wonders in raising the vertical limit of construction with innovative projects,” said Josef Kleindienst, chairman of Kleindienst Group, developers of the iconic The Heart of Europe destination. “It is home to some of the best creations. The construction sector in Dubai has been and will continue to remain robust, as developers continue to invest in new projects while others are finishing the existing projects. Due to Dubai’s attractiveness, investors will continue to buy assets in Dubai that will continue to drive demand for properties. As a result, construction will continue to dominate economic activities.”
Farhad Azizi, CEO of Azizi Developments, said that the UAE as a whole, and especially Dubai’s real estate sector, is “outstandingly resilient” to the impacts of the Covid-19 pandemic, thanks to the guidance of the nation’s agile and forward-looking leadership, as well as the innovation and cooperation of all industry stakeholders.
He also added, “In 2020, Dubai has seen the highest number of 200-plus-meter building completions since 2011, highlighting its resilience and unwavering progress. We now look forward to 2021 – the year of resurgence where pre-pandemic demand levels are reached and surpassed – with many exciting projects manifesting from visions into reality. Riviera, our French-Mediterranean lifestyle community in MBR City will see many of its first handovers in the early months of 2021 – this represents a new landmark destination, adding distinguished value to the emirate’s real estate landscape. Demand from both local and international investors is substantial too, with over 75 percent of our ongoing projects already being sold”.
Kleindienst added that Dubai is not only a city of towers but also a hub for architectural wonders and iconic destinations such as The Heart of Europe, which will continue to attract more people to Dubai. “Project development and construction are some of the key sectors that drive economic growth of Dubai. We are also expecting to see the market show upward trends. These skyscrapers were the result of the intense construction activities all the developers had during the second half of 2020. Most developers were finishing the projects as planned for Expo 2020.”
According to GlobalData, the establishment output growth predicted for the Middle East and North Africa(Mena) region for the year 2020 is to shrink by 4.5 percent in 2020, before recovering with an increase of 1.9 percent in 2021 and 4.1 percent in 2022. Global Data still maintains its prediction about the construction output growth in the UAE with a rebound in 2021 of 3.1 percent and also a promising medium-term outlook.
Yasmine Ghozzi, the economist at GlobalData, pointed that the construction sector will have a backdrop in 2021 with the slow recovery, but the pace of recovery will blow all around the globe in the region. “The recent approval of a new Dubai Building Code is a positive development for the UAE. The new code outlines a revised set of construction rules and standards, and seeks to reduce construction costs by streamlining building rules.”