“The collapse of Arabtec is symptomatic of an industry that is in crisis. Lowest price competitive tendering, inequitable risk allocation, low profit margins, uncertain pipeline and late payments drag the construction industry down meaning that it is challenging for the sector to invest in building new skills and innovation that will boost productivity and improve delivery.”
-Kenny Linn, Partner, Capital Project Services Leader at PwC Middle East, commenting on construction giant Arabtec’s plan to liquidate and the implications for the region. [Arabian Business]
