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.

Etihad Rail award is strategic for UAE, Gulf and China

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 ...

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 ...

Further cuts to Mena construction outlook

GlobalData downgrades growth forecast as regional lockdown measures are extended until the end of May GlobalData has cut its construction output growth forecast for the Middle East and North Africa (Mena) region ...

Banking on the future

Abdul Aziz Al Ghurair, CEO of Mashreq Bank, on what to expect in the financial sector over the next decade What will be the future of banking? Will the financial sector ...

Besix opens 3D concrete printing studio in Dubai

Besix 3D is already working on a variety of projects for government and private companies Belgian contractor Besix has opened a 3D concrete printing studio in Dubai to help develop the ...

New work declines worry GCC contractors

The value of contract awards in the first nine months of 2020 has declined Tendering activity remains muted in the GCC's construction sector as clients adopt conservative spending strategies for the ...

Adnoc presses ahead with onshore projects

The state energy enterprise has been focusing on upgrading infrastructure at its onshore oil and gas fields this year, as market factors impede progress on cost-intensive projects With timelines extended and ...

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 ...

Power game: the region’s nuclear energy ambitions

While many of the public announcements emanating from the Middle East and North Africa’s utilities sector over the past couple of years have focused on launching renewable energy programmes, work ...

Dubai seeks consultants for floating solar plant plans

Emirate is planning to develop photovoltaic solar installations in the Gulf State utility Dubai Electricity & Water Authority (Dewa) has issued a request for proposals for a consultancy contract for studying ...

Etihad Rail award is strategic for UAE, Gulf