Grahame McCaig opens Construction Week conference

Says now is a time to reflect

The Construction Week Conference is being held in Dubai today
The Construction Week Conference is being held in Dubai today

Grahame McCaig, general manager of Dutco Balfour Beatty, has opened the Construction Week Conference saying the state of the Dubai property and real estate market wasn't in the best of shape, but there was still hope for the future.

Speaking in front of an audience at the Raffles Hotel, McCaig described 2009 as “a very tough year” for construction, saying the market had changed considerably for the worse.

“We’re now in a dog-eat-dog system for tendering. We’re working within a system that doesn’t benefit anyone,” he said.

McCaig said that the property market in particular had “crashed and burned” as liquidity had reached crisis levels.

“We can all agree on how bad it is. The other thing we can agree on is that it will end. Economics is cyclical, as is life itself. We can argue how long it’ll go on but we can agree that  the circumstances will change, and work out  how we will ensure we’re in the right position to take advantage,” he said.


Most popular


CW Oman Awards 2020: Meet the winners
A round of the thirteen winning names at the Construction Week Oman Awards 2020 that


Leaders UAE 2020: Building a sustainable, 'resilient' infra
AESG’s Phillipa Grant, Burohappold’s Farah Naz, and Samana's Imran Farooq on a sustainable built environment
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

Latest Issue

Construction Week - Issue 767
Sep 01, 2020