UAE construction sector needs to show more patience | GulfNews.com:
"Contractors in the UAE shouldn’t look to the new year and an Expo 2020 project ramp-up for an immediate lift in industry fortunes. Whatever gains there are will emerge in a more measured way, says a senior industry source. “At the moment, it doesn’t feel like a whole barrage of projects,” said Colin Timmons, CEO at Al Naboodah Construction Group. “There will be work other than Expo 2020.
“Tenders are coming through, (but) the process from tendering to winning takes a lot of time. Clients want to look at value engineering for the most economic solutions.”
For more than a year now, the construction sector had been waiting on an Expo 2020-induced boost to get ample funds to once again flow into the sector and ease pressure on payment delays and profitability."
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