New Thinking for the New Normal
13 December, 2017 | By RICHARD THOMPSON
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
CEO of UAE bank says fall in oil prices has exposed problems in GCC construction practices
Construction industry clients and contractors in the GCC must change the way they do business ...
READ MORE
New downloadable report from MEED, in partnership with Mashreq, examines the opportunities presented by blockchain for the construction sector
Why blockchain could be the solution to several of the challenges facing the construction ...
READ MORE
Some projects are now struggling to attract sufficient bids from contractors
These are difficult times for the construction industry. Four years of lower oil prices have starved the market of cash ...
READ MORE
Doha has found alternative suppliers of construction materials and equipment
The Washington-based IMF says Qatar has mitigated delays to key infrastructure projects caused by the trade embargo that was introduced by ...
READ MORE
Firms sought to conduct feasibility study for a wind project at Hatta
State utility Dubai Electricity & Water Authority (Dewa) has invited consultants to submit proposals for the contract to provide ...
READ MORE
Environmental, social and governance (ESG) principles can become a way for Abu Dhabi real estate to differentiate its offerings at a global scale
This article is the second in a series ...
READ MORE
Government entities allowed to extend contracts and exempt penalties for delays due to coronavirus
Saudi Arabia will provide contract extensions and waive penalties for work delayed due to the Covid-19 pandemic ...
READ MORE
The construction market in Jordan has been subdued since the 2014 fall in oil prices, which saw most major market-changing schemes cancelled
Despite being an oil importer, Jordan has not managed ...
READ MORE
Home healthcare is defined as care provided at home by licensed healthcare professionals who cater to medical treatment needs or by professional caregivers who provide daily assistance to ensure that activities of daily ...
READ MORE
Government decision to avoid cost overruns exposes contractors to project losses
The Dubai government’s decision to put future projects on hold is unsurprising as Covid-19 weighs down on global economies.
While the government ...
READ MORE
EXCLUSIVE: Construction industry must change its ways
Blockchain for construction
Cautious contractors grow wary of bidding
IMF says Qatar has mitigated project delays
Dubai seeks consultants for first wind power project
Abu Dhabi real estate pivots to green
Saudi Arabia to extend contracts amid Covid-19
Jordan’s construction segment sees lull in big projects
Home healthcare services in the GCC
Dubai spending cuts are unsurprising amid Covid-19
13 December, 2017 | .By RICHARD THOMPSON