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
Etihad Rail last week awarded AED4.4bn-worth of contracts for packages B and C to a Chinese/local team
Etihad Rail has received bids for Package D of the second stage of the ...
READ MORE
Momentum in Dubai’s construction cycle has slowed
The Gulf construction market is at a challenging turning point and many construction companies are becoming increasingly concerned about where the next opportunities are ...
READ MORE
The economic stimulus package approved in June has been followed by a flurry of tendering activity
Abu Dhabi’s construction sector was given a boost in early June when Crown Prince Sheikh ...
READ MORE
The economic stimulus package approved in June has been followed by a flurry of tendering activity
Abu Dhabi’s construction sector was given a boost in early June when Crown Prince Sheikh ...
READ MORE
Egypt leads value of deals signed
Egypt helped the Middle East record the highest value of deals let to date in 2018, with the country’s $7.8bn of contracts signed forming the ...
READ MORE
While its robust internal political discourse may sometimes frustrate, Kuwait’s measured diplomacy provides a reassuring presence
Amid ongoing political tension and heightened geopolitical risk in the Gulf, Kuwait’s longstanding pursuit of ...
READ MORE
Contract awards have failed to keep pace with the large volume of projects that are now being completed
Dubai’s construction market retreated sharply during the second quarter of this year, with ...
READ MORE
The projects market in the Middle East and North Africa (Mena) region fell for the second year in succession in 2017. According to MEED Projects, the value of contract awards ...
READ MORE
Faced with tough market conditions, steel producers need greater transparency and a clearer voice if they are to stay strong
Q: How would you describe the structural steel market in the ...
READ MORE
If six-month rolling averages are considered then the market has shown signs of bottoming out this year
The total value of construction and transport contract awards in the GCC fell for ...
READ MORE
Abu Dhabi receives bids for next Etihad rail
The next steps for construction
Resurgent Abu Dhabi creates new challenges for construction
Resurgent Abu Dhabi creates new challenges for construction
Middle East contract awards: September 2018
Kuwait’s agenda turns to critical infrastructure
Dubai’s construction market dropped sharply in second quarter
Muted projects activity to continue in Mena region
MARKET TALK: Steel experts discuss competition
GCC construction and transport awards drop again in
13 December, 2017 | .By RICHARD THOMPSON
