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

Construction industry conversations around digitisation must evolve
The Middle East construction industry’s approach to tech must evolve and focus on how can

Conferences

CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this
CW In Focus | Leaders in Construction Summit UAE 2019
A roundup of Construction Week's annual summit that was held in Dubai this September

Latest Issue

Construction Week - Issue 754
Nov 23, 2019