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27 February 2024

Construction sector set to consolidate

By Sona Nambiar

The UAE construction sector will witness restructuring and consolidation this year amidst stiff competition and slowdown in growth, top industry players told Emirates Business.

David Savage, Managing Director of Al Habtoor Leighton Group, said: "Joint ventures may increase as more people will pursue smaller volumes of work and competition will increase."

Imad Al Jamal, Vice-Chairman of the Higher Technical Consultative Committee at the UAE Contractors' Association, said: "The main issues will be more competition and more constraint on finance."