Dubai Construction Payment Delays Becoming Problematic -Report

Dubai Construction Payment Delays Becoming Problematic -Report

The construction sector in Dubai is facing increasing problems with payment delays which reach six months as a norm, reported Gulf News on Monday.

“The practice of late payments is becoming an epidemic in some parts of the sector, placing additional pressure on contractors,” said Sachin Kerur, Head of Pinsent Masons M.E., in the report.

The report also stated that as aforementioned delays usually reached six months now, up from the 90-120 days previously.

Serur called these delays a “monumental concern,” since cash was the lifeblood of the industry. Recently delays in payments have sent several major construction companies in Saudi Arabia tumbling, including industry giants such as Saudi Oger and Saudi Binladin Group.


Welcome! Login in to your account

Remember me Lost your password?

Don't have account. Register

Lost Password