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
Medical tourism is when a person travels to another country for medical care[1]. Key factors driving medical tourism are lower costs, better quality of care, lower waiting times, availing unavailable ...
READ MORE
A look back at the history of attempted PPP projects in the region highlights a catalogue of failures
When looking back on the history of the GCC projects market, we can ...
READ MORE
Local developer Emaar has received fresh bids for the contract to build the world’s tallest man-made structure in Dubai.
It is understood that at least two groups bid for the contract ...
READ MORE
This is article is the first in a series from the MEED-Mashreq Healthcare Business Leaders Forum held on 23 February in Dubai. The event saw leading industry experts gather to ...
READ MORE
Plunging oil prices triggered a SR34.1bn deficit in Saudi Arabia’s first quarter budget
The region’s largest economy has the most to gain, or lose, depending on how quickly the Covid-19 pandemic is contained ...
READ MORE
Construction companies in the region must become more agile in their approach to business development
The Covid-19 pandemic is having a deep impact on the region’s projects market and its legacy ...
READ MORE
The privatisation of state oil companies shows the desire to reform outdated economic models is genuine.
The fight between the London and New York stock exchanges to secure the listing of ...
READ MORE
Surge in activity has come amid increased gas production
Egypt’s petrochemical projects market has more than doubled in less than four years, with the value of active projects in the sector ...
READ MORE
GlobalData downgrades Mena growth outlook amid oil market uncertainty and Covid-19
GlobalData has cut further its construction output growth forecast for Middle East and North Africa (Mena) region for 2020 to - ...
READ MORE
There has been a growing number of bond calls as market conditions for the construction sector deteriorate
The UAE Central Bank says it will not interfere with the growing number of ...
READ MORE
Growth of medical tourism in Dubai
Is this the end of public-private partnerships in
Emaar receives bids for world’s tallest tower in
UAE healthcare sector responds to digital call
Saudi Arabia balances economics and safety
Oiling the Wheels of the Economy
Egypt’s petrochemical projects market triples in value
Mena construction outlook drops to -2.2 per cent
UAE Central Bank will not interfere with construction
13 December, 2017 | .By RICHARD THOMPSON
