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
Global pandemic heralds project market declines across the board in the Gulf, as regional spending cuts and falling business confidence hit hard
Data shows value of projects planned or under way ...
READ MORE
The Gulf region’s highest-quality projects were announced at the 2018 MEED Projects Awards in association with Mashreq.
“Recognising quality projects is not just about winning an award, but a means by which ...
READ MORE
The largest contracts awarded in the GCC during the first half of 2018 have been in Saudi Arabia
The total value of contract awards in the construction and transport sectors increased ...
READ MORE
This is article is the fourth in a series from the MEED-Mashreq Healthcare Business Leaders Forum held on 23 February in Dubai. The event saw leading industry experts gather to ...
READ MORE
The Mena region is expected to be hit harder and recover more slowly in 2021 than the global average in the IMF’s baseline scenario
The Washington-based IMF has projected a GDP growth ...
READ MORE
Construction companies face supply chain and payment challenges as Covid-19 disrupts markets
Dubai-based Mashreq Bank is working to support the construction sector as contractors come under additional strain due to fresh ...
READ MORE
Recent discoveries will make the Abu Dhabi-led drive for gas self-sufficiency a shared endeavour with the emirates of Sharjah and Dubai
With natural gas now firmly established as the global power ...
READ MORE
Spanish/local joint consortium submits lowest price for EPC contract
Dubai Electricity & Water Authority (Dewa) has received nine bids for the contract to build a new desalination plant in the Jebel ...
READ MORE
A consultant will be appointed to carry out study on border fields
Kuwait and Iraq are planning to appoint consultants to study the development of shared oil fields, Kuwait’s Oil Minister ...
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
Gulf Projects Index plunges amid Covid-19
Winners of MEED Projects Awards, in association with
GCC construction contract awards rebound in 2018
Futureproofing the UAE healthcare sector
Middle East economy to shrink 3.3 per cent
Mashreq to assist contractors with coronavirus risks
UAE’s gas discoveries bring self-sufficiency goal closer
Dubai receives nine bids for Jebel Ali desalination
Kuwait and Iraq to study developing shared oil
UAE mid-market firms must plan for inflation
13 December, 2017 | .By RICHARD THOMPSON
