Iran and Iraq will be major target markets for Dubai’s newest engineering consultancy, Whitby & Mohajer, says the company’s MEP director.
While the usual target markets of Saudi Arabia, Qatar and the UAE will still be areas of interest, Louise Collins told MEP Middle East said that the intense competition for MEP contracts in those markets was a deterrent.
“A lot of the bigger companies are wary of Iraq right now, but it’s got a lot of money and is looking to rebuild. The Americans are already in there, it seems to be the British and European companies that are hanging back, (being) a little bit more insecure. But there’s certainly a lot of money out there,” she said.
Whitby and Mohajer are currently working on two major projects in Iraq, one a six hundred bed hospital and the other the Council of Ministers building.
“There’s a lot of iconic stuff in Iraq, but we have to be careful how many projects we take in that region. In Iran, it’s the same thing. But you’ve got to spread your risk when you’re going into those kinds of places.”
“Kuwait and Saudi Arabia are flying along and we’re getting a lot of fit outs here in Dubai, so that’ll sustain smaller companies (like us) for a while. There’s going to be a lot of fighting for big projects in Abu Dhabi by the bigger companies, but that’s not going to pick up for a while,” Collins said.
(Source: Construction Week Online)