Ahead of the 13th CW Awards, Marcus Truscott, managing director of Multiplex, speaks to Construction Week about the regional construction sector.
Multiplex is a Category Sponsor for the CW Awards 2017.
The winners of this year’s event will be presented with their accolades during a gala dinner and awards ceremony at Rixos Premium Dubai on Wednesday, 6 December, 2017.
Why is it important that you support the CW Awards 2017?
CW Awards is one of the most prominent industry events in the region. It brings together the region’s top performers and encourages innovative ideas and best practices across the industry.
It is always great to see companies being acknowledged for putting value on their employees, the community, and the projects they work on. Multiplex is honoured to be part of this event; the recognition we have received through awards has helped us to better appreciate our people who continually strive very hard to deliver exceptional results.
What do you think are the main challenges that the regional construction industry may face in 2018?
While we have seen a focus on economic diversification in the region recently, market activity is likely to be effected if oil prices continue to stay at current rates.
Investment spending could still be constrained, leading to fewer projects and tougher competition between contractors.
Value-added tax (VAT) is still an unknown, but we are hoping that this impact will be minimal.
How would you rate the GCC construction industry’s performance in 2017?
Overall, it has been a challenging year for the entire construction industry. We have seen a slowdown in capital spending, delays in payments, and significant [postponements] in the determination of variations, which has greatly affected contractors’ cash flow.
The supply chain has suffered significantly because of these issues, which is making it very difficult to deliver projects.
Please list the top three categories that you will look out for at the CW Awards 2017.