New Thinking for the New Normal

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
UAE Technology Think Tank recommends ways to enabling future generations
UAE Technology Think Tank identifies 18 actions to establish the UAE as a centre of excellence for technology research and innovation A think tank of senior executives and academics from the ...
READ MORE
Egypt
The combined value of all projects planned or under way in the five North African countries is about $739bn The signing on 11 December 2017 of an agreement between Egypt and Russia ...
READ MORE
UAE construction rethinks capital spending plans
Covid-19’s impact on consumer spending demand and government finances may lead to greater challenges for the UAE construction sector in 2021 This article is extracted from the report 'UAE Construction After ...
READ MORE
Governments refocus on public-private partnerships
Tightening fiscal space broadens Middle East opportunities for public-private partnerships once again Outside the power and water sectors, public-private partnership (PPP) projects have had only limited success in the Middle East ...
READ MORE
Low bidder emerges for Hatta pumped-storage hydroelectric project
Three bids were received for 250MW project on 13 February A consortium of Austria’s Andritz and Strabag submitted the lowest bid of AED1.392bn ($379m) for the planned 250MW Hatta pumped-storage hydro ...
READ MORE
Green energy drive requires adequate financing
Banks and other financial institutions must step up to mitigate the inherent cost risks associated with clean energy projects The volume of investments earmarked by power and utilities players to develop ...
READ MORE
Egypt upstream gas exploration gathers speed
Rising output from the mammoth Zohr gas field, coupled with ambitions to augment its reserves, have helped Cairo regain its gas exporter status after a five-year hiatus Italian energy major Eni’s ...
READ MORE
Airport stake sale will test Saudi Arabia’s resolve
Major reforms required to make aviation sector more competitive While a formal appointment has yet to be made, it appears that US-based Goldman Sachs has been chosen to advise Saudi Arabia’s Civil Aviation ...
READ MORE
Resurgent Abu Dhabi creates new challenges for construction
  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
Saudi Aramco to invest $300bn in oil and gas projects over next 10 years
Investments will be made on oil and gas exploration and production programmes Saudi Aramco’s CEO says the state oil company is planning to invest $300bn over the next 10 years in ...
READ MORE
UAE Technology Think Tank recommends ways to enabling
North Africa is a challenging market with huge
UAE construction rethinks capital spending plans
Governments refocus on public-private partnerships
Low bidder emerges for Hatta pumped-storage hydroelectric project
Green energy drive requires adequate financing
Egypt upstream gas exploration gathers speed
Airport stake sale will test Saudi Arabia’s resolve
Resurgent Abu Dhabi creates new challenges for construction
Saudi Aramco to invest $300bn in oil and
13 December, 2017 | .By RICHARD THOMPSON