(MENAFNEditorial) (MENAFN- MENAFNPress) Challenges faced by EPC projects and how they can be overcomed to be the theme for the first edition of EPC Contracts Management Summit 2015.
Driven by heavy spending on mega infrastructure with recommencement of several major development projects that were stalled during the 2008 economic downturn with 6 mega infrastructure projects worth Dh 202 bn the future of the construction sector in UAE looks promising. Experts say that UAE's construction sector is expected to grow by 9.3 per cent in 2015 compared to 2014 which saw a growth of 5.5 per cent.
Reports published by Business Monitor International states that majority of construction projects in the UAE involve 38% of the total projects to be finalised in energy and utilities 31% in construction 29% in transport and 2% in social infrastructure. Factors driving growth in the sector are demographic growth political commitment to invest in domestic infrastructure strong fiscal reserves and economic diversification due to Dubai Expo 2020 & Qatar 2022 FIFA World Cup.
However hefty investments pose a huge challenge for EPC contractors ranging from timely completion of projects regulatory bottlenecks statutory clearances difficulty in getting long term and working capital funds. EPC Contracts Management Summit to be held in Dubai on 26 - 27 January 2016 will present an overview of what it takes from drafting a successful contract to successfully managing pre-contract negotiations to post-contract evaluation. Dubai is expecting Dh25 billion in total investment in infrastructure related projects in run-up to Expo 2020.
Supported by Ministry of Works Municipalities Affairs & Urban Planning (Bahrain) Chartered Institute of Procurement & Supply(Middle East & North Africa) The Chartered Institute of Building and Developers & Builders Alliance the launch event will feature presentations on contracting of mega projects by owners and contractors. The summit will be presided by Mohanad Alwadiya (Wolf of Real Estate) Managing Director of Harbor Real Estate Instructor & Advisor at DREI Content Producer & Presenter of MEMAAR TV Show.
Experts from Majid Al Futtaim Properties LLC Drake & Scull International Abu Dhabi Sewerage services Company Saudi Binladin Group Dubai Properties Group RasGas Company Limited to name a few will share their knowledge and practical examples on contracts drafting effective negotiations during contract stage claims management dispute avoidance post-contractual evaluation among other topics.
The summit will be a new opportunity for managers and heads from contracts procurement legal and compliance department to come together network with their peer group and walk away with effective and practical solutions.
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