BrazilFive tips for delivering construction and infrastructure projects
With over $2 trillion in future construction and infrastructure projects planned across the Gulf Cooperation Council (GCC) in the coming years, successfully delivering projects will be one of the key success factors for realising the Vision 2030.
Led by the Vision 2030 giga-projects including Neom, Qiddiya entertainment city, the Red Sea Project, and Diriyah Gate, Saudi Arabia is home to by far the largest portfolio of construction and infrastructure projects in the GCC. As it stands, over $1 trillion has already been planned, and over $60 billion is currently being tendered.
Some $505 billion of construction and transport projects are planned in the UAE, according to the latest available date from MEED, with about $17 billion in the tender phase, similar to the value of construction contracts being tendered in Qatar. Meanwhile, in Abu Dhabi, new developments are being driven by mega-projects energy and petrochemicals, and housing and real estate.
A 2020 study however found that across the Middle East, only 33% of all large construction projects are successful, well below the global average. At the same time, another study by McKinsey & Company found that while mega-projects are notorious for their complexities and pitfalls, a structured and scientific-backed approach to delivery could (significantly) lift the odds of success, in the process unlocking a huge benefit to project sponsors.
So how can builders and consultants in the GCC ensure projects are delivered on time and on budget? In the below video, Christopher Nicolas, a Director at project management consultancy TBH, and Sean McQue, a Director of Construction at Dubai-based construction engineer ALEC, share five tips which they believe are valuable for any type of project, from large to small.
According to a recent report by Deloitte, GCC's construction industry still is reeling from Covid-19’s economic impact, although recent months have shown signs of a strong rebound.
