With the demise of the boom times, an era of accountability and efficiency has begun for Dubai’s property sector.
'Everyone is doing value engineering studies; contractors, developers, you name it,' said Imad Jamal, the vice president of the UAE Contractors Association. 'We have conceded that to stay in business, we need to agree to this new style of business. Especially from the government or semi-government entities, the pressure is there.'
Contractors have started to cut costs by cutting staff, both labourers and skilled employees.