Investment in construction industry is continuing in an upward
trend in the United Arab Emirates, after experiencing a slight dip
in the year 2020. Post this phase, which was also the direct result
of the covid-19 pandemic, the industry has gained further momentum
with the boost brought in by the UAE hosting the world expo. There
has been a considerable increase in the rising demand for
construction particularly from the tourism and hospitality sectors
and also an increase it the government spending on infrastructure.
The projected rebound for the construction industry as a whole is
therefor at a 3% to 4% rise.
FIDIC Governance:
When it comes to the legal standards predominantly relied upon
in construction contracts in the UAE, it is the International
Federation of Consulting Engineers or more commonly referred to
just as 'FIDIC''. Wherein, the FIDIC Red Book is common
for the traditional construction model of 'design, bid and
build'. While, the FIDIC yellow book
