Is retrofit the only way that construction companies might survive future market conditions? If so, then some of the Middle East’s construction leaders will have to overcome their reservations about retrofitting projects.
This May, Jesús Gutiérrez, co-managing director of Dubai-based energy service company (ESCO) Smart4Power, said the UAE’s ESCO community is facing difficulty persuading other construction stakeholders, especially large mechanical, electrical, and plumbing (MEP) contractors, to take part in retrofit projects. He explained that MEP companies are hesitant to “jump into the [retrofit] business” because they view the typical project value as “much smaller” than a new construction project’s, and therefore not worth the “hassle” of having to deal with issues like financing.
In the latest episode of Construction Week Viewpoint, Oscar Rousseau and Jack Ball, deputy editor and senior reporter of Construction Week, explore why renovations, refurbishments, and retrofits are yet to gain traction in the Middle East – and why it is essential that they do.
Construction Week Viewpoint is a weekly podcast series examining the most important issues impacting the Middle East’s construction sector. As the podcast’s episodes span 15 minutes, they provide bite-sized facts and exclusive perspectives on the biggest business determinants for construction leaders – from dispute resolution and the decline of fatalities on site, to solar energy projects, and smart city concepts.
You can listen to a new podcast episode every Monday at noon to learn more about the biggest issues in the business. In previous episodes of the podcast, the CW team has looked at why Saudi Arabia is in a race to build more hospitals, and why saving the UAE’s architectural heritage is more important that ever before. The team has also examined the reasons behind the continued development of oil and gas megaprojects amid widespread energy diversification plans.
In addition to our weekly podcast series, a behind-the-scenes video of the podcast recording can be found on Construction Week’s YouTube channel.
