According to projects tracked by GlobalData, there are more than 600 high-value projects in the UAE (with a contract value of more than GBP 19.1 million) currently in execution, with a combined value of GBP 717.6 billion. The total value of the UAE’s entire project pipeline, including projects at early stages of development, is GBP 860.1 billion.
COVID-19 has accelerated the impact of the issues in UAE’s construction industry and there has never been a greater need to find solutions. The pandemic has not changed our world – it has simply expedited the need to find solutions to pre-existing challenges. These solutions now require investment in technology such as 3D printing, more efficient ways of thinking, different ways of procuring or the sourcing of cheaper and more environmentally friendly materials are some of the underlying issues challenging the industry that are in urgent need of change.
UK companies that can find solutions to the challenges quickly are going to emerge as winners out of the COVID-19 situation and local construction companies are trying to adapt, evolve, streamline, cut costs, collaborate more with their clients. As a result of the hit the economy and the sector as a whole has taken, contracting companies are proactively working with their clients to develop a delivery process to lower the cost of the end product. This further presents opportunities for UK companies able to provide cost-effective streamlined delivery process solutions.
These trying times have brought about some welcome changes in the sector where we are seeing higher rate of adoption in the use of technology and reduction on the reliance on manual labour in the construction process. Automation where possible is yet another innovation that is gaining traction like modular construction, is being embraced with fervour which allows for flexibility and creativity in the workforce management as well as that of internal supply chain.
Outdated construction practices, working methods, working hours, dress codes – all of these are now being questioned where everyone in the business has been encouraged to approach things differently and embrace change. After all, as we are beginning to realize that the end results are what is important.