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Construction companies based in the Gulf countries are increasing their workforce as they expect an increase in their workload over the next year, according to a new survey by the Royal Institution of Chartered Surveyors (RICS).
The latest RICS Middle East survey results on construction and infrastructure show that, although respondents reported a decline in activity in the third quarter, they are optimistic about the likely increase in workload in the third quarter. over the next 12 months.
The majority of respondents in Saudi Arabia (71%) and the United Arab Emirates (55%), as well as a significant portion of Oman (45%), reported having hired new employees during the quarter to support future projects.
A sharp decline in profit margins in the third quarter and an increase in late payments were also highlighted in the survey conducted in the Middle East.
According to RICS, this can be attributed to the financial constraints that companies face, which has been described as a brake on activity by the majority of respondents and should persist despite forecasts of increased load working.
According to the survey, 81% of contributors in Oman indicated that financial constraints were a drag on activity in the country, while 88% cited competition as the main cause of the reduction in the number of people in Oman. 39; activity. The cost of materials and the shortage of materials have also been identified as one of the main factors curbing activity.
Compared to other parts of the world, there is no acute skills shortage in the Gulf's construction and infrastructure sectors, he added.
However, 47% of those surveyed in Oman and the United Arab Emirates pointed out the lack of managers of Building Information Modeling (BIM), and 42% in Saudi Arabia reporting a shortage of construction managers.
The infrastructure market has received nuanced reports from contributors in the region. Respondents in the UAE acknowledged that ports and ports would record the strongest growth in output over the next 12 months, while rail is expected to experience the strongest growth in production in Saudi Arabia.
The type of infrastructure investment uniformity required in the region has been the most consistent. Between 70% and 80% of contributors in the region believe that the need for new projects is greater than that of repairing and maintaining existing infrastructure.
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