Leaders UAE 2018 Preview: 'Fair and reasonable' contract admin needed
Ensuring that contract administration is carried out "in a fair and reasonable manner" is a key priority for UAE construction, a legal expert says
Mark Raymont, partner at Pinsent Masons, reveals some of the legal challenges and opportunities that lie ahead for the UAE’s construction sector. To learn more about the Construction Week: Leaders in Construction UAE Summit 2018 and how you can attend the exclusive conference in Dubai, click here.
What are the main challenges facing the construction industry in 2018?
Sustaining a decent pipeline of work is one of the major market hurdles, as are cash flow issues related to accessing payments on time. The impact of value-added tax is also challenging some firms. The most important challenge remains ensuring that contracts are administered in a fair and reasonable manner.
What excites you most about the UAE construction industry in 2018?
The market must be hopeful about better liquidity in the months to come. There are project opportunities in the market that could contribute to driving growth during the year.
What topics do you expect will be discussed at the CW: Leaders in Construction Summit UAE 2018?
Some topics I expect to hear about include innovation; Expo 2020 Dubai; public-private partnerships; and the increased impact of ‘infratech’ on the construction sector, as well as challenges and opportunities presented by it.
Why is it important for Pinsent Masons, and for you, to support and attend the CW: Leaders in Construction Summit UAE 2018?
Pinsent Masons is a brand leader in the construction sector, and it is important for us to be at this event, which draws in the very leading figures in the regional industry.
What are the latest developments that your company has unveiled this year, and what’s lined up for the future?
Innovation is a key driver for our new projects, which include upgrades to our ‘smart delivery’ initiative that marries technical innovation to solving and analysing common construction challenges and problems. We are continuing to grow our legal service offering in the region, especially in relation to construction services, with the hire of a leading team in the energy and oil and gas service sectors.