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UAE

Profile

Country data

Iran 2008 2009 2010 2011 2012f 2013f 2014f
Nominal GDP ($bn) 315.5 254.8 287.4 348.6 383.8 390.0 403.9
GDP per capita ($) 39.075 31.074 34.778 40.951* 43.774 43.185 43.424
Real GDP growth (annual change, %) 3.2 -4.8 1.7 3.9 4.4 4.0 3.9
Government revenue (% of GDP) 39.0 27.1 29.6 34.3 35.1 34.3 33.6
Government total expenditure (% of GDP) 17.5 27.6 25.0 23.3 21.8 23.3 22.7
Total government debt (gross, % of GDP) 12.5 23.9 22.1 17.4 16.6 16.7 16.8
Current account balance (% of GDP) 7.1 3.1 2.5 14.6 17.3 15.2 15.6
Value of oil imports 0 0 0 0 0 0 0
Value of oil exports 103 68.1 74.6 111.6 116.8* 116.4 113
Inflation (%) 6.6 1.2 0.9 0.8 1.1 2.0 2.5
Click to see full economic data (2005 - 2018 forecast)
Source: International Monetary Fund, World Economic Outlook Database; Last updated: June 2014

Doing business in...

A guide to doing business in the UAE

MEED’s guide to doing business in the UAE

An essential companion for anybody seeking to do business in or with the federation of the United Arab Emirates

UAE trends

All sukuk outstanding and International sovereign sukuk issuance

Islamic bonds gain in popularity Subscription

18 September 2014 | By James Gavin

Government issuers in the Gulf have caught on to the advantages of raising financing using Islamic bonds, making sharia-compliant debt issuance a compelling proposition this year

Selected global sovereign sukuk issuance and Saudi domestic bond issuance

Dubai nurtures Islamic ambitions Subscription

17 September 2014 | By

The UAE emirate has been working on encouraging the development of sharia-compliant banks and is also leading the way as a location to list Islamic bonds

GCC oil and gas awards

GCC oil and gas spend hits long-term high in 2014 Subscription

16 September 2014 | By

Six-country bloc has invested $29bn to date driven by resurgence in Kuwait projects

Islamic banks maintain strong growth Subscription

15 September 2014 | By

Sharia-compliant lenders in the GCC are enjoying success in winning greater market share from their conventional counterparts, buoyed by government support

Mohammed bin Rashid al-Maktoum Solar Park

Dubai commits to sustainability Subscription

10 September 2014 | By

As one of the only renewable energy programmes to have made any real progress in the Middle East, Dubai is taking great strides with its integrated strategy

Point man: Western policymakers have formed increasingly close ties with the UAE crown prince (centre)

Abu Dhabi enters the fray Subscription

10 September 2014 | By James Gavin

The UAE’s decision to deploy its air force in Libya signals it is replacing its traditional role as a mediator with a more assertive approach

Professional launderers have frequently used the UAE to launder criminal proceeds. Often this takes the form of individuals arriving in the UAE with suitcases stuffed with cash, intended to buy real estate, thereby laundering illicit proceeds

Clamping down on hot money Subscription

10 September 2014 | By James Gavin

The UAE authorities are becoming increasingly aware of the growing threat money laundering poses to the country’s reputation as a regional financial centre

The Al-Etihad Credit Bureau will track consumers’ debt obligations and patterns in payment behavious for the past two years

UAE credit bureau gets down to work Subscription

10 September 2014 | By

The new Al-Etihad Credit Bureau aims to encourage more responsible lending and borrowing, and has been broadly welcomed by the financial sector

Abu Dhabi received bids for the contract to build the Guggenheim Museum in August this year

The UAE's cultural challenge Subscription

10 September 2014 | By

Although several landmark museum projects have been launched in Abu Dhabi, Dubai and Sharjah, few have been completed

Gulf Petrochem is looking to expand oil storage capacity at Fujairah to accommodate its planned refinery

Gulf Petrochem eyes downstream expansions Subscription

10 September 2014 | By

After almost doubling its annual revenue target in in 2013, the Sharjah-based group is planning several major expansions including a new bitumen refinery in Fujairah

Filter UAE analysis by sector

MEED comment

Al-Maktoum International airport, in Dubai

UK in front for world's largest airport

18 September 2014 | By

New airport, not the Expo, is the largest Dubai construction scheme

Bahrain Financial Harbour

GCC states diversify their funding options

11 September 2014 | By

Bahrain and Sharjah look for new investors

It is too early to tell whether the late August air strikes targeting Islamist-linked Libyan militias portend a longer and deeper UAE engagement, but a precedent has been set

Abu Dhabi adopts assertive stance

10 September 2014 | By James Gavin

The UAE’s military intervention in Libya shows it is ready to act in defence of its regional interests

Dubai airport

UAE firms have edge for Bahrain airport

1 September 2014 | By

Dubai and Abu Dhabi-based firms will receive preferential treatment

Emaar Malls Group's Dubai Marina Mall

Mixed reaction to Emaar Malls Group listing

1 September 2014 | By

Emaar Malls Group intial public offering sets benchmark for Dubai’s capital markets

The Pentagon in the US

UAE cuts out the middle man in Libya

28 August 2014 | By

By bombing Libya, the UAE and Egypt open the door to backlash from both allies and enemies

Burj al-Arab, Dubai

Dubai opens door for more African business

28 August 2014 | By

International governments see Dubai as ideal springboard for Sub-Saharan Africa

Dubai Mall

Emaar’s position stays uncertain

7 August 2014

Analysts remain unsure about the firm’s strategy along with worries about Dubai’s property sector

More MEED commentary

Special Reports

Abu Dhabi, capital city of the UAE

UAE: Abu Dhabi adopts more assertive foreign policy

10 September 2014

Rapid development over the past 20 years has turned the UAE into an economic powerhouse in the Middle East

Region: Political stability a must to be able to go nuclear

Nuclear: Backing key to plans

7 August 2014

The highly regulated nature and requirements of the nuclear power industry means foreign support is key to the region’s ambitions

Sharjah

UAE: Dubai boom boosts northern emirates Subscription

29 May 2014

Spreading the wealth

GCC real estate

Real Estate: GCC property markets stabilising Subscription

18 March 2014

There is an uptick in demand for residential and commercial property across the region, with just one or two exceptions

More UAE special reports

Market presentations

Dubai creek

Managing the Boom: The Outlook for the Middle East Subscription

23 July 2014

Opportunities and challenges for businesses in the region created by the new projects boom

UAE

Webinar: Impact of Expo 2020 on Dubai construction Subscription

4 February 2014

Dubai is expected to spend more than $7bn on infrastructure in preparation for the World Expo

Middle East Outlook 2013

A region in transition: Middle East outlook 2013 and beyond Subscription

18 August 2013

Insight and analysis on the economic and projects outlook for the Middle East

Project Finance

Webinar: Middle East project finance outlook Subscription

17 June 2013

Market constraints to continue, with deals flowing to most stable markets in the region

Mena renewables 2013

Webinar: MENA Renewable Energy Subscription

12 May 2013

In this presentation, MEED discusses the trends and prospects for renewable power in the region

After the Uprisings webinar

After the Uprisings: The outlook for business in the Middle East in 2013 and beyond Subscription

4 March 2013

A webinar on the region’s business environment, providing current data and exclusive expert analysis drawn from MEED’s team of experts

Top 100 projects 2012

Top 100 projects: The Middle East market gains momentum Subscription

3 February 2013

This webinar examines projects market trends in the region and forecasts which countries and sectors will grow in 2013

Wastewater

Webinar: Project opportunities in GCC wastewater Subscription

15 May 2012

Join MEED for an exclusive online seminar looking at the Gulf wastewater sector

Barzan: The gas project raised $5.7bn

Rebuilding the Middle East: Prospects for the projects market 2012 Subscription

6 February 2012

MEED’s webinar looks at expected growth in the Middle East and North Africa

More MEED webinars

Top 10 projects

Rank

Rank Project Name Sector Contract value ($m)
1 Baraka Nuclear Power Plant: Reactor 3 Power 4,000
2 Upper Zakum Full Field: Early Production Facility: Offshore: EPC 2 Oil 3,790
3 Baraka Nuclear Power Plant: Reactor 1 Power 3,100
4 Abu Dhabi Airport Expansion: Midfield Terminal Complex Transport 2,960
5 Baraka Nuclear Power Plant: Reactor 2 Power 2,500
6 Ruwais Carbon Black and Delayed Coker Project Oil 2,470
7 Dubai Pearl: Towers Construction 2,400
8 Baraka Nuclear Power Plant: Reactor 4 Power 2,000
9 Sarb Full Field Development: Main Processing Plant: Package 4 Oil 1,880
10 Umm Al Lulu Field Development: Full Field Development: Phase 2: Package 2 Oil 1,690
Click through to the full data table on the UAE's biggest projects in construction
Click through to MEED's Q2 2014 Top 100 Projects report
Source: MEED Projects; Data compiled: September 2014; All projects are in execution

Project awards

Dubai

Hill wins Dubai Parks & Resorts role Subscription

9 September 2014 | By

US firm will construction manage attractions

Nakheel Mall site and Al-Ittihad Park on Palm Jumeirah

Trojan wins Palm Jumeirah construction contract Subscription

28 August 2014 | By

Nakheel appoints contractor to build residential block

The planned Al-Wasl Plaza of Expo 2020

HOK and Arup win more Dubai Expo masterplanning Subscription

27 August 2014 | By

Consortium worked on the concept for the bid in 2013

Nakheel

Nakheel awards Jumeirah Islands construction contract Subscription

21 August 2014 | By

Local contractor will build houses and retail centre

Lloyd's Register Energy will provide construction oversight and technical services for the Baraka nuclear plant

Lloyd’s Register wins UAE nuclear deal Subscription

11 August 2014 | By

UK consultant will provide construction oversight and technical services for Baraka plant

Sharjah in the UAE

Dolphin Energy plans gas pipeline to supply Sharjah Subscription

7 August 2014 | By

UAE group awards design deal to ILF Consulting Engineers and invites prequalification

Six Construct wins Ferrari World Abu Dhabi expansion

Six Construct wins Ferrari World Abu Dhabi expansion Subscription

31 July 2014 | By

Attraction already the world’s largest indoor theme park

Dubai Electricity & Water Authority

Dewa awards contract to improve water networks Subscription

16 July 2014 | By

Dubai Electricity & Water Authority project is aimed at boosting efficiency of emirate’s water transmission services

Solar panels

Dewa awards contract for solar centre Subscription

16 July 2014 | By

Innovation centre will be located at Mohammed bin Rashid Al-Maktoum Solar Park

NPCC and Petrofac lead UAE awards

NPCC awarded package one of Nasr field development Subscription

15 July 2014 | By

Local group considers remarkable run of contracts in Abu Dhabi offshore sector

Projects trends

Gulf projects index

Saudi Arabia sees biggest expansion Subscription

18 September 2014

Kingdom’s surge pushes Gulf Projects Index up by 1 per cent

Gulf projects index

Expansion in Saudi Arabia lifts market Subscription

11 September 2014

Projects announcements in Kuwait and Saudi Arabia give boost to Gulf Projects Index

Value of projects planned or under way ($bn)

Big decline for Iraq’s projects market Subscription

4 September 2014

Continued turmoil weighs on Iraq as its projects sector has worst week in 30 months

More Gulf Projects Index

People

Massimo Falcioni Subscription

10 September 2014

Massimo Falcioni is head of Middle East countries at Coface

Keither Fenner

Keith Fenner Subscription

10 September 2014

Keith Fenner is senior vice president, sales, Sage ERP Africa and head of Sage Middle East

John Abi-Hanna Subscription

27 July 2014

John Abi-Hanna is business development director, water, Middle East for Black & Veatch

Nomaan Raja Subscription

27 July 2014

Nomaan Raja is partner in Dubai at Latham & Watkins

Mazen Alami Subscription

27 July 2014

Mazen Alami is managing director, Middle East at Black & Veatch

Vishesh Bhatia Subscription

22 July 2014

Vishesh Bhatia is CEO Jumbo Group

More UAE biographies

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MEED events

Bentley Advantage Conference

Software and services for sustaining infrastructure across the lifecycle

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