90% of construction specialists in the UAE and KSA are confident in the property market

• 80% of construction decision-makers in the UAE and KSA have increased investment in technology
• ZāZEN Gardens is fully sold out with 40% of the development’s construction complete

ZāZEN Properties, a leading sustainable property developer in Dubai, cites that approximately 90% of construction decision-makers in both the UAE and KSA are confident in market conditions and the prospect of their projects increasing in value over the next 12 months. The rapid enhancement of technology and accelerated digitalization in the region, alongside mainstay factors such as economic strength, convenient geography, and the increased implementation of sustainable initiatives are spurring the sector’s confidence and the region’s upward trajectory.

The rise of ChatGPT, which registered one million users in its first five days of launching, has unveiled a new way of living and working across the world. Its impact across all industries is being increasingly realized and this is a driving force behind why construction in the UAE and KSA are poised to undergo a digital renaissance over the coming years, as well as decades. This transformation has already begun with 80% of construction decision-makers in the UAE and KSA saying they have ramped up investment in future technologies over the past three to six months.

The growing use of technology is expected to save developers costs, especially in the realm of off-plan projects. Sustainable integration in real estate projects is seeing an uptick for this same reason, specifically in Dubai. With global data showing that $5.2 trillion is needed through 2032 to decarbonize the built environment and green real estate, the UAE has displayed its global excellence by mandating several sustainable initiatives including the Dubai 2040 Urban Masterplan and UAE Net Zero 2050. These objectives are not only nurturing the sustainable agenda of the country but also the world.

Through such forward-thinking efforts, and the UAE’s ability to consistently demonstrate stability for its residents and citizens, expatriates have begun migrating to the country in increasing numbers. With the European Union reporting that global average temperatures in early June breached a 1.5 degree Celsius increase (when compared with pre-industrial times) to be logged as the highest recorded since the 1950s, the UAE’s prioritization of sustainability will play a key role in mitigating the challenges of global warming, as well as attracting investors and expats alike.