Construction experts are to examine the state of the industry in the Middle East in light of the economic downturn during a conference in Abu Dhabi next month. The three-day Arabian World Construction Summit 2009, which opens at the Emirates Palace hotel on Feb 9, will see 60 speakers and more than 500 delegates debate the future of the region's projects amid what the conference's sponsor, MEED (formerly the Middle East Economic Digest), is calling "the industry's toughest crisis in more than 10 years".
"The construction industry in the region has enjoyed dynamic growth over the past few years, but we have witnessed demand stagnating for the first time in a decade following the global economic situation," said Richard Thompson, the editor of MEED. "This is compounded by master developers placing projects on hold to focus more on riding out the current conditions and meeting tight deadlines for developments already under way."
Among the industry experts who will lead panel discussions are Abdul Majeed al Fahim, the chairman of Pearl Dubai, Mounir Haider, the chief executive of Sorouh Real Estate, Sami Asad, the chief operating officer of Aldar Properties, and Ali Kolaghassi, the vice president for corporate business development at Saudi Oger. gmcclenaghan@thenational.ae
