Leading contractors in the UAE have voiced concern that the robust pace of construction in the region is straining their resources and ability to property implement projects, despite the financial profitability of the recent real estate boom. As a result, many contractors are forced to reject projects for lack of resources to take new jobs.
"We reject a lot of projects because we are stretched to the limit," explained Mohammad Al Habtoor, chief executive of the Al Habtoor group, according to Gulf News. Al Habtoor Engineering said it is currently handling Dh14 billion worth of construction projects across the UAE and simply does not have enough men and machines to accept additional work.
The group added that it expects its construction division to continue to have from Dh10 billion to Dh15 billion worth of projects for other clients at any given time.
Managing director of Al Jaber Engineering and Contracting company, Kez Taylor, confirmed Al Habtoor’s reports, saying that the ongoing construction activity is keeping contractors busy.
"Our company is in a position to take new projects, but the market is very busy at this point of time," Taylor said, adding that he expects construction activity to continue at the current pace for up to five years.
Some of projects currently being handled by Al Jaber are at Dubai Marina Mall and Burj Dubai, part of Emaar's $20-billion Downtown Burj Dubai development.
