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
There has been a fundamental shift in the way that the economies of the region operate
There has been a fundamental change in the business landscape of the GCC since the ...
READ MORE
Insights on reducing waste and improving efficiency in construction in the UAE
Waste is one of the biggest challenges facing UAE construction. Poor planning, lack of skills and unfair contracts combine ...
READ MORE
A large youth base and a rapidly ageing population with prevalence of chronic diseases are expected to triple healthcare demand in the next 10 years.
Rising prevalence of chronic diseases, ...
READ MORE
More than 500 companies have invested in excess of AED65bn in Khalifa Industrial Zone Abu Dhabi since it began operating in 2010
Abu Dhabi Ports will waive the charges for over 75 ...
READ MORE
The Dubai Health Authority (DHA) has been working to make the payment process simpler for hospitals and insurance companies.
In this regard, DHA has started implementing the new insurance payment system, ...
READ MORE
High levels of contract awards over the past few years have allowed Egypt to regain its mantle as a construction market of regional importance, but there are fears the spending ...
READ MORE
Extension is a result of the Covid-19 pandemic
Kuwait has extended the bid deadlines for all oil, gas and chemical tenders that are issued through the Central Agency for Public Tenders ...
READ MORE
How Big Data and new technology are transforming project delivery
The construction industry has historically been reticent about technology investment, and the reasons are easy to understand. In the cut-throat world ...
READ MORE
The complex will accommodate 3,000 worshippers when it is completed
Italian firm Schiattarella Associati has been appointed to carry out the design work for a 22,500 square metre mosque project in ...
READ MORE
Public sector projects are driving growth, with the most notable progress being made on housing schemes
Contractors working in Kuwait are hoping for the green shoots of recovery in 2019. “There ...
READ MORE
Projects are now looking for investors not contractors
Removing waste from UAE construction
Healthcare market assessment of KSA
Abu Dhabi waives industrial zone fees
The Rising Importance of Revenue Cycle Management in
Capital expenditure boosts Egypt’s construction sector
Kuwait extends oil and gas tenders by three
Delivering innovation in construction
Italian firm to design Saudi mosque
New projects enter Kuwait’s stagnant building market
13 December, 2017 | .By RICHARD THOMPSON
