KPMG finds tech remains key despite time, budget hurdles
Survey finds 80% respondents think digital modular fabrication would pick up pace within next decade
Respondents from KPMG's Global Construction Survey said technology would play a "significant role" in the growth of the UAE construction industry, which most respondents said would continue to exhibit 'resilience' despite 44% of respondents stating that delivering projects on time and within budget were the “top hurdles” facing capital construction developments.
Senior executives from 223 engineering and construction companies, as well as project owners from a variety of sectors, took part in KPMG’s survey, with more than 80% of participants believing that digital modular fabrication would be be widely implemented across the industry within the next 10 years.
UAE industry leaders also said that the use of data analytics and predictive modelling would play an “important role” in the next five years.
However, KPMG Lower Gulf’s partner for building, construction, and real estate, Sidharth Mehta, said technological investment would be redundant without a strong workforce at the helm.
He explained: “Construction companies that continue to invest in people and implement a technology-enabled strategic road map will be well positioned to face industry disruption and improve their capital and program performance, putting them on the fast-paced track to growth.”
Other information derived from the survey showed that 44% of respondents ranked the delivering of projects on time and within budget as