By CW staff
Construction Week’s Power 100 annual ranking of the most influential people in the middle east’s construction industry
The Construction Week Power 100, now in its seventh year, is an annual ranking of the most influential individuals currently working within the Middle East’s construction sector. It's also a celebration of the people who are transforming both the industry and the regional landscape.
There’s no denying that the past 12 months have been challenging for the Middle East’s construction community. Although the oil price has seen gradual gains of late, it’s still a far cry from its 2014 peak of $110 per barrel.
As a result, GCC governments have had to compensate for lowered national incomes, and national construction budgets have been adjusted accordingly.
Nevertheless, the industry’s most influential players, who populate this list, have reacted in the best possible way: by optimising their regional operations and pushing ahead with some of the most ambitious projects on the planet.
True to its roots, this year’s Power 100 is dominated by contractors. However, a healthy selection of consultants and developers are also present.
Moreover, although the GCC region accounts for the lion’s share of represented individuals’ operations, many are also active across the wider Middle East and even on the international stage.
The sectoral and geographic spread of the 2016 Power 100 is a positive indicator of the industry’s long-term health. The individuals who have made the cut this year are those who have reacted to the oil-driven slowdown – diversifying their service offerings and portfolios and, in doing so, safeguarding their companies against further market fluctuations.
Challenging though the current economic climate may be, the moves that those on the list have made during the past year should serve to secure the future prosperity of both their businesses and the Middle East’s construction industry at large.
The individuals recognised by the 2016 Power 100 – and their respective positions – have been selected in line with publicly available information and details submitted directly to CW.
The editorial team has spent months discussing (and arguing over) who should be included, and in what order. Ultimately, the final rankings are based on the best information available. That said, this list is also based on our collective perspective of the industry’s most influential construction professionals. We have striven to remain as objective as possible, but it’s important to note that other opinions are available.