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 ...

BRIEFING PAPER: Uncharted Territories

Regional producers reel from the economic impact of Covid-19 as global oil demand takes the slow path to stabilisation As battered economies in the Middle East and North Africa (Mena) region climb the slippery slope ...

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 ...

Clean energy to head agenda in 2020

Governments are forging ahead with renewable energy programmes, fuelled by the rapid fall in the cost of developing solar and wind power Despite a slowdown in the value of contract awards ...

Egypt rail projects require sustained political will

Historical indecision does not automatically inspire optimism among rail contractors The plan to build, finance and maintain two urban monorail systems and a high-speed railway network in Egypt has moved rapidly between January, when consultants ...

Adnoc exemplifies gains from asset divestment

The recent agreement to sell a minority stake in its gas pipelines business represents one of the largest global energy infrastructure transactions By raising $10.1bn from a 49 per cent divestment ...

Pandemic drives Gulf governments to debt markets

Foreign currency bonds worth about $40bn have been issued so far this year, with more to come as Gulf governments try to bridge large budget deficits This year has seen a ...

The road ahead for UAE manufacturing

Manufacturing and industrial growth are quickly emerging as flagbearers for the UAE’s long-term economic diversification ambitions Enabling a flourishing local industrial and manufacturing economy has long been a strategic priority for ...

Coronavirus executive briefing (24 June)

Understand the Covid-19 outbreak, its impact on the global and regional economy, and initial implications for specific sectors Click here to download the full document

Reengineering Construction – MEED Mashreq Construction Partnership Newsletter: Connect Series and Market Talks – November 2020

The MEED Mashreq Construction Partnership is a knowledge-sharing initiative that was started in 2017. The aim is to provide a platform for senior industry executives to discuss and address the ...