Funding constraints and poor management appear to be slowing down a number of construction projects in the GCC, including in Qatar and the UAE, a new survey by PricewaterhouseCoopers has found.
A whopping 80 percent of respondents said a project they were working on had suffered a delay, with nearly half (46 percent) saying deadlines had been pushed back more than six months.
About a third (36 percent) said their project was completed on time or under budget, Arabian Business reports:
Over half of respondents said that their projects had been delayed, scaled down, or cancelled due to funding constraints, the report added. Furthermore, two in three respondents expect restrictions to continue into 2013…
“Governance, accuracy and completeness of reporting will dominate the areas of focus of senior management for 2013. Whilst reporting is regular, there appear to be concerns around its transparency and accuracy”, said Charles Lloyd, a partner at PwC.