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
Tim Taylor, QC, discusses the impact of Covid-19 on the UAE's legal landscape and disputes market
During a crisis, the legal expectation is ‘deals down – disputes and restructuring up’. While this ...
READ MORE
Engineering Contracting Company’s CEO Kareem Farah says construction companies bring expertise that helps reduce project costs
It is becoming increasingly important for developers and contractors to deliver quality projects efficiently as ...
READ MORE
Dubai Metro Green Line extension expected to boost Dubai Creek Harbour development
Dubai’s Roads and Transport Authority (RTA) expects to procure the 11 stations of the planned Dubai Metro Green Line ...
READ MORE
Government-led projects will be the focus for construction across the region in 2019 while public-private partnership schemes remain in vogue
The region’s construction market over the past five years has been ...
READ MORE
Growth holds despite negative inflation and weaker project activity
READ MORE
First Hyperloop TT section to cater to Alghadeer on the border of Abu Dhabi and Dubai
Abu Dhabi-based Aldar Properties has signed a memorandum of understanding (MoU) with US-based Hyperloop Transport ...
READ MORE
Governments have been quick to cut spending after two years of launching stimulus projects
The big challenge for the region’s construction sector over the coming year will be dealing with the ...
READ MORE
The tenders for The Tower and the shopping mall at Dubai Creek Harbour evoke memories of 2004, when contractors competed for the deals to build what would become Burj Khalifa ...
READ MORE
A team of China State Construction Engineering Corporation and South Korea’s SK Engineering has been awarded the first package for Stage 2 of the federal railway
The award of the first ...
READ MORE
Continued investment in transport infrastructure will see the UAE’s spending focus shift to rail and airport projects
The UAE’s status as a global travel and logistics hub is underpinned by the ...
READ MORE
The pandemic’s potential impact on disputes
Early contractor input is crucial for successful projects
EXCLUSIVE: Dubai to procure metro extension package as
The region’s project pendulum swings
UAE maintains its economic course
Abu Dhabi developer plans to implement hyperloop
Cost cutting on stimulus projects is a paradox
Tendering in 2017 reflects tightening margins for developers
Etihad Rail award is strategic for UAE, Gulf
UAE takes steps to maintain global hub status
13 December, 2017 | .By RICHARD THOMPSON
