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.
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 ...
Deteriorating market conditions are threatening the delivery of major projects in the emirate
As the trading conditions for construction companies continue to deteriorate, there are growing calls from contractors for more ...
The UAE is seeing muted growth in 2017, estimated at less than 1.5 per cent, as low oil prices and production cuts weigh on the economy.
The non-hydrocarbons sector is faring ...
Much has been made in recent weeks of measures taken by the authorities in the UAE to boost economic growth.
A series of announcements have been made that promise to change ...
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 ...
Various stages in an asset’s lifecycle present the potential for waste generation which need to be minimised from the outset of the project
Click here to download the infographic
Waste is ...
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 ...
Cost pressures diminish economic boost from project spending
The UAE’s construction sector should be brimming with optimism as tendering starts for the construction of the next phase of Etihad Rail and ...
From long-range e-bikes to intelligent bathrooms with future-proof taps, the expo will showcase energy-efficient technological marvels from across the world when it finally opens its doors in October next year
Etihad Rail last week awarded AED4.4bn-worth of contracts for packages B and C to a Chinese/local team
Etihad Rail has received bids for Package D of the second stage of the ...
North Africa is a challenging market with huge
Dubai contractors look for regulation to counter conspiring
A disappointing year for growth in the UAE
Claims, not payments, are the big problem in
UAE takes steps to maintain global hub status
Waste management in construction
Middle East economy to shrink 3.3 per cent
Project spending no longer turbocharges economy
Expo 2020 provides launchpad for innovation
Abu Dhabi receives bids for next Etihad rail
13 December, 2017 | .By RICHARD THOMPSON