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.

BRIEFING PAPER: Navigating modern supply chains

How ESG is paving the way for procurement and distribution As the demand for sustainable business practices reaches a fever pitch, organisations worldwide are increasingly faced with the need to reassess ...

ENERGY CLUB 3: Renewables on the rise in Mena

The third Mashreq Energy Club focused on the rise of renewables in the region The falling costs of clean energy technologies is driving the shift towards renewable energy across the Middle ...

Dubai receives Shindagha Road Corridor construction bids

The lowest bidder is the local Al-Naboodah followed by another local company DBB Dubai’s Roads & Transport Authority (RTA) has received bids from contractors for the contract to build the next ...

GCC projects market slumps in 2018

Latest data from MEED Projects shows a continuing decline in the value of new contracts awarded The value of projects awarded in the GCC last year fell by 22 per cent ...

Oversupply continues to challenge Dubai office market

Supply and demand imbalance is resulting in less office space being built and property owners offering tenants generous incentives Dubai’s office market continues to be oversupplied, resulting in less office space ...

Rethinking PPP in power and water

Procurement in the GCC’s utility sector needs to move away from the current lowest cost bid mentality and towards better system efficiency and demand management Ask most utility planners what the ...

Besix opens 3D concrete printing studio in Dubai

Besix 3D is already working on a variety of projects for government and private companies Belgian contractor Besix has opened a 3D concrete printing studio in Dubai to help develop the ...

Crisis leaves some public-private partnerships in limbo

Healthcare and school PPPs appear to have the greatest chance to move ahead Some of the most visible public-private partnership (PPP) projects across the region were already facing an uphill battle prior to ...

The case for environmental sustainability in the GCC

GCC governments have the chance to turn the region into a sustainability pioneer by regarding sustainable solutions as an opportunity rather than a cost Environmental sustainability is becoming the norm around ...

Abu Dhabi moves to unify UAE utilities production

The shift towards renewable energy and the decoupling of power and water have made the case for a unified approach much stronger Abu Dhabi’s utilities sector has undergone unprecedented changes in ...