Built to inform

Sign up for the daily newsletters

No, Thank you

FIDIC finds takers in 'mature' Middle East market

An industry expert told Construction Week that the development of certain Middle East markets has increased their uptake of FIDIC guidelines

Maturing Middle East markets are increasing their deployment of FIDIC. [Representational image]
Maturing Middle East markets are increasing their deployment of FIDIC. [Representational image]

A maturing Middle East construction sector is increasingly accepting the FIDIC system of contract formulation to meet project goals, an industry expert said. 

FIDIC (International Federation of Consulting Engineers) publishes international standard forms of contracts for works and for clients, consultants, sub-consultants, joint ventures and representatives.

The organisation also produces related materials such as standard pre-qualification forms and training manuals.

Greg Kane, operations director at WSP l Parsons Brinckerhoff, said the deployment of FIDIC highlights the growth trajectory of construction work in the Middle East. 

"The use of internationally recognised contracts such as FIDIC is generally more prevalent in mature construction markets.

"This is because they are accepted as being reasonable and equitable for all parties, and not necessarily related to funding," Kane continued. 

Remarking on whether FIDIC will find more acceptance if regional funding is reduced, he added: "Funding sources could be a factor where parties such as contractors or international investors bring finance to projects.

"However, some of the construction markets in the Middle East have developed and matured substantially in recent years and we are seeing more use of standard types of contracts such as FIDIC.

"The use of such equitable contracts, ultimately, can only benefit the project," Kane continued. 

 

Most popular

Awards

New category open for consultancies at CW Awards 2019 in Dubai
Sub-Consultancy of the Year to be crowned for the first time at the gala ceremony

Conferences

Leaders UAE 2019: Pinsent Masons confirmed as Gold Sponsor
Law firm is among the major construction industry players confirmed as sponsors for Leaders UAE's
Leaders in Construction UAE Summit returns in Sept 2019
Dubai conference to see top officials discuss the people, trends, and challenges that will power

Latest Issue

Construction Week - Issue 746
Jul 20, 2019