Pantheon Development, based in the United Arab Emirates, claimed it was in talks with major global experts in the 3D construction business about building a 10-story tower in the country.

The company's decision comes as 3D technology is increasingly used in designing and building construction projects, according to a statement.

Chairman Kalpesh Kinariwala confirmed the 3D project idea, saying, "Talks are underway with three businesses from the United States and Europe to obtain their offers for a 10-story structure."

"But first and foremost, we must ensure that the idea is scalable, because without it, constructing a single stand-alone structure would be prohibitively expensive and commercially unviable," he explained.

"The benefits given by the technology are encouraging a growing demand for creating 3D dwelling units around the world," he added.

According to Kinariwala, the global 3D printing in construction industry was valued at $7 billion last year, with a projected compound annual growth rate (CAGR) of 91.5 percent through 2028.

"The accuracy and quality it gives, as well as the cost reductions it brings, are driving the increased usage of 3D technology in designing and implementing a wide range of construction projects," he added.

Furthermore, 3D printing could assist solve housing shortages, provide relief to individuals afflicted by natural disasters, and even alleviate the construction labour deficit in some developing countries, according to the report.

Kinariwala stated that the UAE, particularly Dubai, is well-positioned to be a global leader in the use of 3D technology in the building industry.

"As part of its goals to be a regional and international hub for 3D printing technology, the emirate has actively supported 3D printing in construction, with an objective of having 25% of its structures produced using the technology by 2030," he added.