UAE building boom will spark 60% rise in electric capacity
The acceleration in the number of real estate projects across the UAE means that the country’s capacity for electricity will to have to increase by 60% in just four years
The acceleration in the number of real estate projects across
the UAE means that the country’s capacity for electricity will to have to increase by 60% in just four years, a report by the Emirates Industrial Bank (EIB) has concluded this week.
The surge in the number of projects, in particular the influx of mega-sized shopping malls, has meant that the current total capacity for electricity production in the UAE is now around 16,200mW, compared with just 9,600mW five years ago.
And power industry experts estimate that by 2010 the total capacity required will surpass 26,000mW.
“The UAE has the highest projected increase in demand, which is expected to continue to grow at a minimum rate of 10% per annum until 2010,” said the EIB report.
“Dubai has the greatest demand potential and is growing at about 12 to 14% a year when compared with other areas such as Abu Dhabi and Sharjah.”
Construction activity is currently running at its highest level for almost two decades and shows no sign of slowing down.
During 2005 there were over 1,800 construction projects being implemented within the GCC, with a large percentage of those in the real estate sector.