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.

Is this the end of public-private partnerships in the GCC?

A look back at the history of attempted PPP projects in the region highlights a catalogue of failures When looking back on the history of the GCC projects market, we can ...

Expo site preparations enter home stretch

With just over a year to go until Dubai Expo 2020 opens its doors to the world, the site is rapidly approaching its final form The build up at the Expo ...

Oversupply continues to challenge Dubai office market

Supply and demand imbalance is resulting in less office space being built and property owners offering tenants generous incentives Dubai’s office market continues to be oversupplied, resulting in less office space ...

Bahrain’s construction goals shift rather than shrink

Manama focuses on critical infrastructure and engagement with the private sector amid fiscal tightening Unlike its Gulf neighbours, Bahrain does not have a trillion-dollar initial public offering or an upcoming world ...

Optimising value from oil assets with tertiary recovery

Enhanced oil recovery represents the leading front for oil extraction capacity expansion in the Gulf Enhanced oil recovery (EOR) in the Middle East took a leap forward in November with the ...

Regional unconventional agenda gains momentum

By encountering first gas from the Ruwais Diyab unconventional play, Adnoc has taken a leap forward towards its 2030 gas production goal Abu Dhabi National Oil Company (Adnoc) has encountered gas in Abu ...

EXCLUSIVE: Saudi Arabia launches railway privatisation

The invitation covers existing railway assets and future projects Saudi Arabia’s Public Transport Authority (PTA) has launched the privatisation of its railways by inviting companies to express interest in private sector ...

BRIEFING PAPER: The Quest for Gas

Natural gas production maintains steady incline Middle East producers are boosting natural gas output to meet rising energy demand About $33.5bn-worth of gas exploration and production projects are under execution across the ...

Coronavirus executive briefing (31 May)

Understand the Covid-19 outbreak, its impact on the global and regional economy, and initial implications for specific sectors Click here to download the full document

Saudi Aramco tightens capital expenditure

Aramco’s supply chain community is trying to assess the impact of subdued capital spending in 2020 on their businesses Most analysts had predicted Saudi Aramco would register lower profits in 2019 than the ...

Is this the end of public-private partnerships in