According to a PwC survey, there is renewed optimism in the Middle East regarding spending in the construction sector, thanks to mega projects like the Qatar FIFA 2022 World Cup and Expo 2020 in Dubai,
PwC’s Middle East capital infrastructure survey, whose respondents included the region’s developers, contractors and project owners, found that 75% expect an increase in funding for infrastructure and capital projects over the next 12 months. The UAE, Qatar and Saudi are seen as top targets for investment.
However, the survey also revealed that capacity constraints are beginning to impact project delivery and 95% of respondents saw a delay in projects, with 45% having projects delayed by over six months. Decision-making was also a challenge, and for 35% of contractors it was their greatest obstacle.
“These problems need to be urgently addressed if the region is to deliver on its ambitions,” said Stephen Anderson, PwC’s leader of Capital Projects and Infrastructure in the Middle East.
The survey also revealed that project owners and contractors found it challenging to find the right skilled people to manage their projects, and funding is also an issue. “There simply isn’t enough funding available,” added Anderson.
By Heather Jimaa
