by Antonios Dimitracopoulos
As a result of the termination or indefinite suspension of projects en masse, over the last two to three months, irate contractors were seeking urgent advice from their lawyers on their legal position, as well as on the process and cost of dispute resolution options. …
Dithering trends in case of suspension or terminationRead More »
I believe the economic slowdown is not a bad thing at all, but a golden opportunity for Dubai to start anew. In order to survive these tough market conditions, I’ve listed five essential strategies that developers must adopt. …
Survive the crisis: five top tactics for developersRead More »
By Jim Delkousis
The UAE has seen a major slowdown of construction projects in recent months, particularly in Dubai. The situation is far from being ideal for players in the construction market.
Trapped with stagnating projects, developers and contractors are facing a recurrent question. What can we do when a project is frozen? Do we take drastic measures such as cancellation of the project? Or shall we wait until conditions improve? …
UAE law provides security in construction deal risksRead More »
A long term view for Credit Crunch
by Omar Al Saadoon
Senior Associate Omar Al Saadoon.Construction & Engineering Practice – Al Tamimi & Company
This article might deter short term speculators or pessimists (so called realists) in reading further and if so no hard feelings. I too have noticed a reduction in crane activity and generally less traffic on the Sheikh Zayed Road. I also understand and appreciate the world we have lived in is rapidly changing and the credit crunch is likely to have a profound impact on global construction industries for the foreseeable future. …
by Shikha Mishra
In light of the current economic downturn, contractors will have little legal recourse if payments for on-going projects get delayed, legal experts say.
The recent cancellation of the US $1.25 billion contract between Dubai-based Meydan and the Arabtec-WCT JV has led to concerns in the market over similar situations arising in the future and the legal recourse available to contractors. …
By Samer H Skaik
Organizations have realized that deep understanding of management theory and practice is a must to ensure continuous improvement to their operations. Management theories were solely or primarily adopted in organizations to help get the job done and find ways to efficiently manage the organization and enhance financial rewards (Grey, 2005). …
By Natasha Marrian
Dubai: Commercial arbitration is likely to be sought increasingly as parties face an uphill battle to meet commitments in the face of a bruising global financial meltdown, director of the Dubai International Centre, Dr Hussam S. Al Talhuni, said on Friday. …
by Michael Stanleigh
Risk Management is the process of identifying, analyzing and responding to risk factors throughout the life of a project and in the best interests of its objectives. Proper risk management implies control of possible future events and is proactive rather than reactive. …
