Last trends of the AECO sector
Infrastructure to comprise 21% of Dubai's largest budget in 2018
This means a 46.5% increase over corresponding values for 2017
The investment value of Expo 2020 Dubai is estimated at $6.8bn (AED25bn), while the expansion of Dubai Metro's Route 2020 – also a key point of focus in the 2018 budget – is expected to be worth $2.9bn (AED10.6bn).
Accordingly, Dubai Government's Department of Finance (DOF) has reached the final stage of a $1.5bn (AED5.5bn) financing agreement based on the export credit guarantee system.
Posting a year-on-year hike of 19.5% , the 2018 budget is in line with Dubai Strategic Plan 2021's targets and focusses on the requirements for Expo 2020 Dubai.
The increased value of infrastructure spending reflects the emirate's efforts to implement Expo 2020 Dubai projects according to a schedule that includes the site's main building, as well as support services projects such as roads, bridges, sewerage networks, and transport and metro lines, in addition to area preparation for post-Expo events and supporting tourism.
Dubai estimates public revenues will be worth $13.7bn (AED50.4bn) in 2018, a 12% hike over corresponding 2017 figures.
Commenting on the budget's items, Abdulrahman Saleh Al Saleh, director-general of Dubai's DOF, said: "Over the coming years, Dubai Government actively seeks to improve public budget performance continuously, in order to achieve financial sustainability, fulfill the emirate’s commitments, and realize the strategic objectives of Dubai 2021 Plan.
"Further, this aims to make the upcoming mega international event – Expo 2020 Dubai – one of the best in the history of Expo exhibitions, in line with the vision of our prudent leadership, aiming to make Dubai always ready to impress the world.
In the future, the Public Private Partnership (PPP) Law in Dubai is also expected to "contribute to the implementation of some public projects [...], which will enhance creativity and innovation [...and] enhance government efficiency", Dubai Media Office reported.
There is the feeling in Dubai that after years of fairly lax regulation on project management – which had undoubtedly resulted in a large number of substandard projects, not to mention delays and budget overspends – the use of BIM can only serve to benefit Dubai’s construction industry. "The main BIM advantage is resolving design clashes between different disciplines –mechanical, electrical, civil – resulting in major savings in time and redundancies,” said Khaled Awad, the founder of Greene and a consultant on the initial designs for Masdar HQ, in which he said that BIM was “indispensable”.
The Dubai regulations will only apply to buildings over 40 storeys or more than 300,000ft2, as well as government projects including hospitals, universities and schools. Its focus on big projects reflects the fact that BIM helps to streamline complex developments that utilize a range of stakeholders.