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
Construction think tank recommends 15 actions for a more productive and sustainable construction industry in the UAE
Addressing the barriers to growth facing the UAE’s construction industry, the UAE Construction Think ...
READ MORE
The emirate plans to create a national champion by merging two contractors, while the future of Arabtec hangs in the balance
Coming on the same day that Arabtec Holding announced plans ...
READ MORE
Acwa Power’s Paddy Padmanathan explains how the firm is driving the development of alternative energy
Another milestone in the global transition towards renewable energy was reached on 9 October with the ...
READ MORE
The Middle East’s power sector is on a transformational path, with governments working to shore up energy security and delegate responsibilities to the private sector
Demand growth for additional generation capacity ...
READ MORE
As part of a wider partnership, MEED and Mashreq are proud to announce the launch of our construction networking clubs. Over the next 10 months, we will invite construction leaders ...
READ MORE
The state-backed Abu Dhabi Company for Onshore Petroleum Operations (Adco) is ready to sign the contract for the Bab Integrated Facilities Project Expansion, one of the largest planned oil and ...
READ MORE
Construction outlook downgraded as Covid-19 puts pressure on government revenues this year
The construction output growth forecast for Egypt has been reduced to 7.7 per cent in 2020, with further downward revision ...
READ MORE
The contract for substructure works at Al-Maktoum International airport is estimated to be worth $2.7bn
Dubai Aviation Engineering Projects (DAEP) is reviewing updated offers for the estimated AED10bn ($2.7bn) substructure contract for Concourse ...
READ MORE
A consultant will be appointed to carry out study on border fields
Kuwait and Iraq are planning to appoint consultants to study the development of shared oil fields, Kuwait’s Oil Minister ...
READ MORE
The client received prequalification entries for PV solar plant earlier this month
Emirates Water & Electricity Company (Ewec) is planning to issue the request for proposals (RFP) for a planned 1.5GW ...
READ MORE
UAE Construction Think Tank recommends actions to improve
Abu Dhabi moves to fix construction with consolidation
Leading the transition to renewable energy
The transformation of regional power
MEED and Mashreq launch construction networking clubs
Adco ready to sign Bab expansion contract
Egypt construction growth to slow in 2020
Dubai reviews updated bids for its largest construction
Kuwait and Iraq to study developing shared oil
Abu Dhabi sets target tender date for 1.5GW
13 December, 2017 | .By RICHARD THOMPSON
