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
Normalisation of relations with Israel through the Abraham Accords offers UAE and Bahrain the chance to boost their economies in key sectors
When UAE Minister of Foreign Affairs & International Co-operation ...
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
The AED100bn ($27bn) Targeted Economic Support Scheme (Tess) was launched in March
The UAE Central Bank has extended its economic stimulus package until the end of the first half of next ...
READ MORE
Construction companies in the region must become more agile in their approach to business development
The Covid-19 pandemic is having a deep impact on the region’s projects market and its legacy ...
READ MORE
Experts from Clyde & Co provide insight on force majeure clauses and laws for the construction sector in the wake of Covid-19
Findings from Mashreq Construction Club Connect Series episode I
The ...
READ MORE
Some packages in the next stage of Etihad railway will link the UAE’s major ports
The procurement process for the next stage of the UAE’s Etihad railway is now in full swing. Contractors ...
READ MORE
Regional airline carriers can expect a slow and painful post-pandemic recovery
The Covid-19 pandemic has had a significant impact on the dynamics of the GCC’s aviation industry since March 2020, but ...
READ MORE
Enforcement of awards has become a key issue as arbitration becomes a more popular method of resolving disputes
Attitudes to dispute resolution are changing in the UAE, particularly since the launch ...
READ MORE
While the Covid-19 crisis and drop in oil prices have led to a collapse in government revenue and short-term project spending, regional project plans remain in place
The combination of the ...
READ MORE
Chairman and chief executive of Emirates Airline & Group comments on the challenges facing aviation
Climate change and rising costs are huge challenges for the aviation sector. Responding effectively to them ...
READ MORE
UAE and Bahrain eye $550m Israel opportunity
Saudi Arabia seeks interest for urban rail PPP
UAE central bank extends stimulus package
CONNECT SERIES: Force majeure and other options in
Etihad railway to drive logistics growth
Future of region’s aviation sector still up in
UAE arbitration process faces challenges
Project opportunities to watch out for
Ten Minutes into the Future of Aviation
13 December, 2017 | .By RICHARD THOMPSON
