New Thinking for the New Normal

The region-wide fiscal rebalancing triggered by the fall in oil prices since 2014 has had a profound effect of the region’s construction industry.

Many of the issues that have dogged the industry for years such as late payments, unequal contracts, and disputes over project variations, have been exacerbated by the slowdown in new projects. And contractors say that cash flow is the biggest challenge that they are facing today.

But just as the region’s governments have responded to lower oil prices with-ranging reforms, the drop in oil prices also presents an opportunity for the UAE construction industry to change and to get rid of some of its entrenched, self-harming practices.

In New Thinking for the New Normal, a construction industry research report from MEED in partnership with Mashreq, senior stakeholders from across the UAE construction industry set out their views on the challenges facing the UAE construction industry today. And on the opportunities for change.

Download New Thinking for the New Normal now to find out about the opportunities and challenges facing UAE construction. 

Related Posts
Reforms expected to boost start-ups
Mena start-ups attract $203m in funding in the first half of 2018 Government initiatives such as the UAE visa regulation and Saudi Arabia foreign ownership structure reforms are expected to help start-ups across the Middle ...
READ MORE
Adnoc and ExxonMobil sign R&D agreement
The two energy companies will explore joint technology research and development (R&D) partnership opportunities across the oil and gas upstream value chain Abu Dhabi National Oil Company (Adnoc) has signed a ...
READ MORE
MARKET TALK: Sector focus helps Mashreq service clients better
Understanding specific industries means the Dubai-based bank can understand and address the issues the construction industry faces MEED: How have Mashreq’s operations evolved to meet the needs of the changing market? Mohammad ...
READ MORE
Egypt upstream gas exploration gathers speed
Rising output from the mammoth Zohr gas field, coupled with ambitions to augment its reserves, have helped Cairo regain its gas exporter status after a five-year hiatus Italian energy major Eni’s ...
READ MORE
Abu Dhabi turns its attention to efficiency
As Abu Dhabi’s groundbreaking $1.6bn Strategic Tunnel Enhancement Programme (STEP) nears completion, the emirate’s wastewater company is now turning its focus to improving and rehabilitating existing infrastructure. “We have spent the ...
READ MORE
Financial close for world’s largest RO desalination plant targeted in June
Taweelah IWP will have a capacity of 200 MIGD The project owners for the planned $915m Taweelah independent water project (IWP) in Abu Dhabi are targeting financial close in mid-June, according ...
READ MORE
Abu Dhabi closes Adnoc Oil Pipelines infrastructure deal
Adnoc has been able to close the transaction ahead of the expected closing date in the last quarter of this year Abu Dhabi National Oil Company (Adnoc) has announced it has ...
READ MORE
Retrofitting key to sustainable construction
Retrofitting built structures is an efficient way to meet national net zero carbon targets With Covid-19 impacting businesses and altering the way we work and live, it is imperative that the construction ...
READ MORE
Construction sector adjusts to the new normal
Sentiment in the GCC’s construction market has improved since 2016 The GCC’s construction sector has adjusted to the new normal of lower oil prices and reduced government spending, according to Pinsent ...
READ MORE
Saudi sovereign wealth fund to build Jeddah free zones
Fund plans to build sports and medical cities north of Jeddah airport A contract to build an airport city adjacent to the airport was awarded in August 2016 Fund to buy Al-Jowharah ...
READ MORE
Reforms expected to boost start-ups
Adnoc and ExxonMobil sign R&D agreement
MARKET TALK: Sector focus helps Mashreq service clients
Egypt upstream gas exploration gathers speed
Abu Dhabi turns its attention to efficiency
Financial close for world’s largest RO desalination plant
Abu Dhabi closes Adnoc Oil Pipelines infrastructure deal
Retrofitting key to sustainable construction
Construction sector adjusts to the new normal
Saudi sovereign wealth fund to build Jeddah free
13 December, 2017 | .By RICHARD THOMPSON