MEED reported that a new survey revealed a shift in business to Saudi Arabia and Qatar. As per the new survey, fewer opportunities will be available for construction and real estate companies in the UAE during 2009.
Gulf Construction Outlook Survey has also indicated that more contract business will shift from Dubai to countries such as Qatar and Saudi Arabia. Focusing on four key categories of market outlook, client/contractor relations, construction management and construction costs, the closed door survey was launched at the Arabian World Construction Summit 2009 held in Abu Dhabi earlier this month.
The findings of the survey are based on the responses of more than a third of senior representatives, including CEOs from leading construction companies in the GCC region. The survey also revealed 96% of respondents expect to see an increase in concerns between construction clients and contractors across the GCC in 2009.
Mr David Yaw regional MD for Halcrow said that “The Arabian World Construction Summit 2009 is a pre eminent forum for construction professionals and offers an invaluable opportunity to gain the perspective of industry peers.”