Dr Anil Pillai says UAE to remain a very attractive economy for international investors
Dr Anil Pillai, chairman and founder of Airolink Construction Group, the Dubai-based EPC contractor, has said that he remains optimistic about the UAE’s construction market in 2020, and for years to come, due to the policies and procedures put in place by the country’s leadership.
Speaking during an interview with Big Project ME, Dr Pillai said that he believed the UAE remains a very attractive economy for international investors due to its favourable business environment, excellent infrastructure, strong connections to international markets, and highly dynamic private sector.
“The Dubai Chamber of Commerce, in one of its recent briefings, released a new analysis which assures that the Dubai Expo 2020 and Government-led infrastructure projects will continue to play a key role in driving the growth of Dubai’s construction sector over the coming two years as well, like it did for 2018 and 2019.
“According to KPMG’s annual Global Construction Survey, the construction sector in the UAE is expected to grow between 6% and 10% in 2020,” he added. “Even post 2020, the construction has a promising outlook, thanks to various government initiatives such as the Ministry of Education Strategic Plan 2017 – 2021, National Strategy of Higher Education 2030, the Energy Strategy 2050, the Sheikh Zayed Housing Programme, and Dubai Tourism Strategy.
“These initiatives expect investment in the residential, energy and utilities sectors, as well as in infrastructure and commercial construction projects,” Dr Pillai said, adding that he believed that there will never be a shortage of work in the construction sector for disciplined contractors.
He pointed out that by taking a systematic approach and enabling superior project management techniques, contractors can continue to stay competitive in the market, despite the various challenges facing them.
“In my opinion, banks are our biggest financial advisors and there should be no grey areas while dealing with them. Construction companies should never take any liabilities other than those related to construction projects, to ensure a healthy financial situation.
“In the current market, if you look at the contractors who have taken a hit on their finance front, it is evident that they have deviated from the above concept. One should be capable of making the right decisions at the right time, in a matured and pragmatic manner.
“Choosing the right kind of clients also plays a vital role in the long-term success of a contractor. Professionalism and ethics from all parties are the key to a healthy business environment,” he concluded.