Industry

Manufacturing is playing an increasingly important role in the emirate as it pushes ahead with efforts to build a long-term growth path that is less dependent on hydrocarbons. In 2013 manufacturing contributed 5.7% to the emirate’s GDP, up from 5.3% in 2012 with the sector accounting for 12.6% of the country’s non-oil GDP in 2013. Meanwhile Abu Dhabi’s petrochemicals industry has a number of competitive advantages, such as the emirate’s vast crude oil reserves and gas resources, the UAE’s location and significant local demand. Local producers of construction materials are set to benefit from the upcoming construction projects in the emirate, which include projects in the oil and gas, infrastructure, transport and chemical sectors. Retail construction is also on the rise with Abu Dhabi’s retail stock growing strongly in recent years, from 1.7m sq metres of gross leasable area in 2011 to 1.8m in 2012 and 2.2m in 2013. Growing competition in the sector is expected to see players start to diversify their retail mix as more malls open in the coming three to four years.

This chapter contains an interview with Suhail Mubarak bin Athaeeth Al Ameri, CEO, Senaat.