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
International consortium will build Hatta pumped-storage hydroelectric project
Dubai Electricity & Water Authority (Dewa) has awarded a AED1.437bn ($391.2m) contract to a consortium of Austrian firms Strabag and Andritz and Turkey’s ...
READ MORE
Key indicators point to a potential crash looming in Dubai’s projects sector, with significant consequences for the regional market
Architects are not prone to fretting, so when one recently described his ...
READ MORE
Heads of transport authorities in Dubai and Sharjah named among Etihad Rail board of directors
UAE President Khalifa bin Zayed al-Nahyan has issued a federal decree restructuring the Etihad Rail board ...
READ MORE
New downloadable report from MEED, in partnership with Mashreq, examines how the region’s oil producers are responding to changing energy demand.
The fundamentals of future energy demand look good for Middle East oil ...
READ MORE
The GCC’s rail industry has been concerned about the lack of new projects for three years
Five years ago, the rail industry was expecting the GCC to provide a steady stream ...
READ MORE
National Centre for Privatisation is the client
Saudi Arabia’s National Centre for Privatisation (NCP) has invited firms to express interest by 1 October for the contract to provide technical advisory services for the ...
READ MORE
State oil producer had already shown signs of a change in partnership strategy
Lower oil prices over the last three years have forced national oil companies (NOCs) in the Middle East ...
READ MORE
Saudi Arabia will need to convince its fellow Opec and non-Opec members, in particular Russia, to deepen oil production cuts to salvage crude prices
Deepening the existing oil production cut agreement is no ...
READ MORE
Catalysed by the Covid-19 pandemic, the healthcare sector in the GCC and wider region is witnessing a change in the way services are delivered.
From regulation to insurance provisions, through to taking ...
READ MORE
Middle market companies in the UAE must prepare for a higher interest rate environment in 2022 and 2023, says latest briefing from Mashreq Bank
Businesses in the UAE must prepare ...
READ MORE
Dubai awards construction contract for GCC’s first hydropower
Signs of trouble ahead for Dubai’s construction market
UAE restructures Etihad Rail
The Future of Middle East Energy
Pipeline of GCC rail projects starts to look
Saudi Arabia seeks interest for urban rail PPP
Abu Dhabi oil opens up assets to global
Output cut becomes imperative for oil producers
GCCE Healthcare Industry Report 2022
UAE mid-market firms must plan for inflation
13 December, 2017 | .By RICHARD THOMPSON
