‘Cost is a key disruptor in construction’

Jeffrey Stouffer

Dubai, UAE, 14 October 2018: “Cost is a key disruptor in construction,” said Jeffery Stouffer, Executive Vice President, HKS, on the sidelines of the Building in Healthcare Conference, while analysing the various factors influencing the construction industry, globally and in the Middle East. He said that, today, there is an under-reliance on technology in construction and in the future, there will be a greater dependence on technology in construction projects. Elaborating on construction technology, he said that today pre-fabrication is carried out in new projects, for instance, mechanical ductwork is being done off-site; this ensures universal quality.

Commenting on the likely implications of the financial situation in the Middle East on the construction sector, Stouffer said, “Financial pressures are immense; however, the economic situation must be seen as an opportunity to do things better that adds value.” Elaborating, he said, that today there are United Kingdom-based finance groups willing to support new and promising projects, however, this requires mutual accountability and trust between the parties. Construction projects in the Middle East, he said, have good construction quality but often underperform. He added, “We have a lot of progress to make and the financial situation is the best time to create something of value.”